Proposal for tax incentives for tourism enterprises was recently approved by the Board of Investments (BOI). These aim to upgrade their facilities for safety and health purposes, Tourism Secretary Bernadette Romulo-Puyat announced on Wednesday.
This includes income tax holiday for three years and duty-free importation of capital equipment.
Eligible tourism enterprises include hotels and resorts, tourist transport companies, and MICE (meetings, incentives, conferences, and exhibitions) facilities.
Romulo-Puyat enumerated upgrades which may include the renovation of guest rooms, food and beverage outlets, function meeting rooms, and recreation areas as well as investments in new laundry and kitchen.
“Tourism isn’t just a headcount of visitors, more importantly, it is an industry that creates jobs and supports communities,” she said.
