INTEGRATED SHREDDING PROGRAM FOR MODERN AGRICULTURE
The Integrated Modern Agricultural Morcellement Scheme (IMAMS) was established in a context where food security is a major concern both locally and globally. The purpose of the Integrated Modern Agricultural Morcellement Scheme is to promote modern and innovative agricultural practices through the development of integrated farm facilities. Integrated agricultural facilities may include residential areas and other commercial facilities (storage, processing, packaging and sales facilities).
The goal of the IMAM project is to promote up to date and innovative farming practices through the development of integrated farming facilities. An integrated farm facility will be a mixed-use development that includes, among other things, a condominium, residential and commercial facilities that may include storage, processing, packaging and retail facilities. Under the integrated modern agricultural subdivision scheme, promoters will enjoy the following benefits:
- 8 years tax exemption on income (for producers)
- Exemption from registration fee when purchasing land (given to planters).
- Convert up to 15% of this property to residential or commercial use and exempt from paying property conversion tax (granted to developer/landowner).