Industrial Estate vs Export Processing Zone Quiz
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Questions and Answers

What is an Industrial Estate (IE)?

  • A free trade area with no customs or tax regulations
  • A tract of land developed with infrastructure and utilities for a community of industries (correct)
  • A specialized export-oriented area located outside customs territory
  • An isolated area near a port for storing and manipulating imported goods

    • Which of the following best describes an Export Processing Zone (EPZ)?

  • A free trade zone with no customs or tax regulations
  • An area within a port for temporarily storing imported goods
  • A general industrial area with tax incentives for exporters
  • A specialized industrial estate oriented towards export production and located outside customs territory (correct)

    • What is a key characteristic of a Free Trade Zone?

  • It is an isolated area near a port or airport for handling imported goods (correct)
  • It is a specialized industrial estate for export-oriented industries
  • It is a general industrial area with tax incentives for exporters
  • It is a planned development with infrastructure for multiple industries

    • Which statement is true about goods moved from a Free Trade Zone to other areas in the country?

    <p>They are subject to customs and internal revenue rules and regulations</p> Signup and view all the answers

    Which of the following is NOT a characteristic of an Export Processing Zone?

    <p>Subject to customs and internal revenue rules for goods entering the country</p> Signup and view all the answers

    What is the primary purpose of a Free Trade Zone?

    <p>To temporarily store, repack, or manipulate imported goods without customs restrictions</p> Signup and view all the answers

    What does PEZA stand for?

    <p>Philippine Economic Zone Authority</p> Signup and view all the answers

    When was the PEZA created?

    <p>February 25, 1995</p> Signup and view all the answers

    What is the main goal of the law that created PEZA?

    <p>To promote exports by establishing economic zones with tax incentives</p> Signup and view all the answers

    What are the tax incentives available to businesses registered with PEZA?

    <p>Exemption from paying income taxes, VAT Exemptions, Customs Duty Exemptions</p> Signup and view all the answers

    What infrastructure facilities are provided in economic zones established by PEZA?

    <p>Warehouses, cold storage facilities, hazardous waste treatment plants</p> Signup and view all the answers

    How long can businesses registered with PEZA be exempt from paying income taxes?

    <p>Seven years within industrial estates, ten years outside industrial estates</p> Signup and view all the answers

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