In support of one of the major industries greatly affected by the health crisis, BOI has approved the investment incentives for tourism and tourism-related industries that are COVID-19-proofing their facilities and related services and adapting to the new normal to ensure the health, safety, and wellness of its people and clients.
To ensure the continuity of the tourism industry players’ business operations, BOI is granting an income tax holiday for a period of three years and duty-free importation of capital equipment, where value-added tax (VAT) will be paid for tourism projects that will renovate to enhance health and safety features and processes. The income tax holiday is also pro-rated according to the amount of upgrade/renovation.
If your business is engaged in hotels and resorts, meetings, international conventions, and events (MICE), facilities, and tourist transportation, you’re eligible to apply.
You may also wish to talk to our Investments Specialist to further discuss on how to avail. Book an Appointment with us through our Facebook Page.
The BOI will continue to work closely with the Department of Tourism in the review of our relevant policies to provide the necessary support to our tourism stakeholders and restore industry vigor and growth at the soonest possible time.
Bayanihan 2 Act: Helping the tourism sector recover
To prepare for the reopening of the sector, the government is supporting the tourism and tourism-related industries including micro-businesses, cooperatives and others in the informal sectors by:
- Providing loan interest subsidy. Find out the available loan programs you can access here.
- Construction of infrastructure projects by the Department of Public Works and Highways (DPWH) that will complement tourism activities in the country.
- Providing cash-for-work programs and financial assistance for displaced workers in the tourism sector.
- Providing grants for education, training, and advising for alternative livelihood programs.
- Utilizing technology to improve local tourism services.
- Establishing Covid-19 Testing Centers especially in popular tourist destinations in the country.
- Implementing relevant programs (e.g. infrastructure, subsidized domestic package tours) to mitigate the economic effects of Covid-19 to the tourism sector.
For more information, please coordinate with your concerned local government unit (LGU) or regional offices of the Department of Tourism (DOT). You may also book an appointment with a BOI specialist via our Facebook page.
Overseas travel for Filipino tourists
The Philippine government now allows non-essential overseas travel for Filipinos beginning 21st of October 2020. Those who intend to travel as tourists must present the following:
- Confirmed round trip airfare tickets.
- Valid and adequate travel and health insurance for Filipino travelers with tourist visas.
- Completed immigration declaration acknowledging the risks of traveling.
- Negative Antigen test result taken within 24 hours before departure. For more information on the Antigen test, click here.