Proposed Incentives | San Vicente Palawan Master Plan
Updated: June 2017
The Tourism Infrastructure and Enterprise Zone Authority (TIEZA) has proposed Fiscal Incentives for identified Tourism Enterprise Zones (TEZs) in the country. Below is the
proposed fiscal incentives quoted from the website of TIEZA, www.tieza.gov.ph:
- Income Tax Holiday (ITH). TEZ Operators shall be exempted from income taxes
levied by the National Government on its registered activities for an initial period of six (6) years from start of business operations.
- Gross Income Taxation (GIT). In lieu of all national internal revenue taxes and local taxes, impost, assessments, fees and licenses, registered tourism enterprises shall pay a tax of five percent (5%) on its gross income from its registered activities. Real estate taxes and other fees that may be imposed by TIEZA are not included.
- Importations of Capital Investment and Equipment. TEZ operators shall be entitled to an exemption of one hundred percent (100%) of all taxes and customs duties on the importation of capital investment and equipment.
- Social Responsibility Incentive. TEZ Operators shall be entitled to a tax deduction
equivalent to fifty percent (50%) of the cost of environmental protection or cultural heritage, preservation activities, sustainable livelihood programs and other activities as may be determined by the TIEZA Board.
Please directly contact TIEZA to ask about the status of their proposed fiscal incentives for San Vicente, Palawan.