Davao urged to help ease taxes on startups

Subscribe Now January 24, 2014 at 10:50am

A community of entrepreneurs have called on the city government to support startup companies by relaxing tax laws and "allow them to get on their feet and have traction."

Dulce Lada, coordinator of the startup community in the city, said other countries such as Singapore relax their laws for new companies to give them room to find funding and collaboration.

“The practice in Davao City is for the city to immediately tax starting companies even when they are just beginning,” Lada said. “In other countries, some companies are given up to six months so that they can get on their feet and have some traction.”

The startup community in Davao is composed of 10 startup companies with about 50 members. The community include internet-related startup facilities such as Pagesnapp and iCalamity, which have made headlines in i-tech news.

The Davao City Chamber of Commerce and Industry has announced putting up “The Cube” in its office to provide space for startups and people, who work on-line jobs and are tired of working in coffee shops to get decent internet connections. They are given unlimted internet access for a limited fee.

“The Philippines is emerging as one of the key players in the startup scene,” Lada said.

Source: manilastandardtoday.com

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