February 15 2006, Cebu, Philippines – Exist Quest, Incorporated (EQuEST), a pioneer in Open Source software engineering in the country, has officially set-up its software design and quality assurance facilities in Cebu. EQuEST, is one of the newest locators welcomed by the Philippine Economic Zone Authority (PEZA).
As an accredited PEZA locator, EQuEST is now entitled to PEZA incentives such as Income Tax Holiday (ITH) for four (4) years; option to pay a special 5% tax on gross income earned after the ITH, in lieu of all national and local taxes, except real property taxes on company- owned land; and exemption from payment of import duties and taxes on imported equipment.
The registration agreement, signed by Michael Lim, President and CTO of EQuEST, and PEZA Director General Lilia de Lima, covers the facilities located in PIPC Bldg, Asiatown IT Park, Lahug, Cebu City.
The signing was witnessed by Exist CEO Winston Damarillo, Operations Manager Linnor Rapes, and VP-Sales and Marketing Jerry Rapes.