Bataan Petroleum gets tax incentives

Bataan Petroleum gets tax incentives

Bataan Petroleum Terminal Inc., a petroleum storage joint venture of Mawab Resources Inc. and Andan Enterprises Inc., said it had received tax incentives from the Board of Investments that would help bring down its costs in importing petroleum products.

The incentives include a five-year income tax holiday and duty-free importation of capital goods.

The company’s terminal in Limay town in the province of Bataan, northwest of Manila, has a storage capacity of 10 million liters. It will serve the marketing and distribution operations of Mawab Resources and Andan.

Mawab is a Filipino independent importer of finished petroleum products.

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