D&L subsidiaries get 2-year tax break extension from PEZA

D&L Premium Foods Corp. (DLPF) and Natura Aeropack Corp. (NAC), subsidiaries of D&L Industries, Inc., have secured Pioneer Status from the Philippine Economic Zone Authority (PEZA), extending their Income Tax Holiday (ITH) for an additional two years.

The extended ITH will now run from July 1, 2023, to June 30, 2029, granting the companies a total of six years of tax exemption.

Following the ITH, DLPF and NAC will benefit from a 5 percent tax rate on gross income until December 31, 2034, as stipulated by the CREATE MORE Act.

D&L President & CEO Alvin Lao stated that this recognition highlights their dedication to innovation, advanced manufacturing technology, and global competitiveness.

The Pioneer Status was granted due to the companies' adoption of a state-of-the-art Distributed Control System, a first in the local production of specialty fats, oils, and related products, which automates and monitors production centrally.