The Tourism Infrastructure and Enterprise Zone Authority (TIEZA) has proposed Fiscal Incentives for identified Tourism Enterprise Zones (TEZs) in the country. Below are the proposed 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 the 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 their gross income from their 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.
You may contact TIEZA directly to ask about the status of their proposed fiscal incentives for San Vicente, Palawan.