Aurora Special Economic Zone Act

Established in Barangays Esteves, Dibet, and Dibacong, Municipality of Casiguran, Province of Aurora.
Covers approximately 500 hectares of public agricultural land.
Specific geographic boundaries detailed with metes and bounds.

Managed by Aurora Special Economic Zone Authority (ASEZA).
Developed as a decentralized, self-sustaining industrial, commercial, agro-industrial, tourist, banking, financial, and investment center.
Infrastructure and facilities to support investments and employment.
Foreign and Filipino enterprises may operate independently or jointly.
Zone boundaries may be adjusted with ASEZA and LGU consultation.
Goods manufactured may be sold domestically subject to taxes and regulations.
Negative list to protect domestic industries; prohibited local sales of certain industries.
National government retains coordination authority.

Income Tax Holiday (ITH) varies from 4 to 8 years depending on enterprise category and location.
Net Operating Loss Carryover (NOLCO) available except when availing ITH.
Fixed 5% tax on Gross Income Earned (GIE) replaces other national and local taxes (excluding real property tax on land).
Accelerated depreciation allowed up to twice normal rates.
Import tax and customs duty exemptions on capital equipment, raw materials, breeding stocks, and genetic materials subject to conditions.
Exemption from wharfage dues on exports.
Minimum Corporate Income Tax deferred until after ITH period.

Domestic sales from the zone are subject to standard tax laws.
Merchandise moving from the zone to customs territory treated as imported goods.
Exported products are subject to applicable import laws upon re-importation.
Raw materials and capital equipment importations treated under the Omnibus Investments Code.
Registered export enterprises have access to bonded warehousing.

Foreign nationals may be employed in supervisory/technical positions for up to 10 years.
Certain high-level positions may be retained beyond 10 years under ownership conditions.
Foreign nationals and immediate family are entitled to multiple-entry visas and exemption from certain clearances and permits.

Foreign investors investing at least US$150,000 permitted an investor's visa.
Visa holders entitled to reside during the investment period.
Requirements include age, no criminal record, no communicable diseases, and mental fitness.

ASEZA responsible for managing and operating the Aurora Ecozone.
Board of Directors composed of government officials, investors, and worker representatives.
Chairman serves as administrator; appointed by the President for a six-year term.
ASEZA empowered to issue rules, supervise enterprises, and manage utility and infrastructure services.
Authority to borrow funds and enter contracts, including under Build-Operate-Transfer schemes.
Environmental protection and sustainable development mandated.

ASEZA staffed with officers and employees appointed by the Board.
Governance adheres to civil service laws; officers prohibited from partisan political activities except voting.
Removal or suspension requires just cause.

ASEZA under policy direction and coordination of PEZA.
Collaboration with Regional Development Council for integration in regional plans.
LGUs retain autonomy except where ASEZA decisions prevail in zone matters.
COA provides full-time audit personnel.