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Dot powerpoint

  1. 1.  The Tourism Act of 2009 (Republic Act No. 9593) Special Economic Zone Act (Republic Act No. 7916) The Omnibus Investment Code of 1987(Executive Order No. 226) Act Granting of Special Investors Resident Visa (SIRV)(Executive Order No. 63) The Foreign Investments Act of 1991(Republic Act No. 7042) Investors’ Lease Act(Republic Act No. 7652)TOURISM RELATED INVESTMENT LAWS
  3. 3. THE TOURISM ACT OF 2009 (R.A. 9593)Designation, operation and administration of incentives to theestablishment of tourism enterprise zones (TEZ)CRITERIA• Defined into one contiguous territory;• Must have historical and cultural significance, environmental beauty,or existing or potential integrated leisure facilities within its bounds orwithin reasonable distances from it;• Strategic access through transportation infrastructure, utilities,infrastructure systemTOURISM ENTERPRISE ZONES
  4. 4. • At least five (5) hectares and sufficient in size.• It is in a strategic location such as to stimulate thesustainable socio-economic development of neighboringcommunities.• The area must be situated where controls can easily beestablished to curtail illegal activities.TOURISM ENTERPRISE ZONES
  5. 5. THE TOURISM ACT OF 2009 (R.A. 9593)Incentives Available to Tourism Enterprises outside of designatedTEZsCRITERIA• Registered Tourism Enterprise undertakes a substantialexpansion/upgrade of facilities• Cost of expansion/upgrade of physical assets amounts to at least 50% ofthe original investment• There is a significant change in its category classification under theDOT’s accreditation systemTOURISM ENTERPRISE ZONES
  6. 6. Incentives to TEZs and tourism enterprises within thezone•Income Tax Holiday (6 years, extendible for another 6 years)•Net Loss Carry Over (Deduction from gross income for 6years)•Gross Income Taxation (5% GIT Rate)•Importation of Capital Investment and Equipment•Importation of Transportation Equipment and Spare Parts•Importation of Goods and ServicesTOURISM ENTERPRISE ZONES
  7. 7. • Tax credit• Social Responsibility Incentive• Employment of Foreign Nationals• Special Investor’s Resident Visa• Foreign Currency Transactions• Requisition of Investment• Lease and Ownership of LandTOURISM ENTERPRISE ZONES
  8. 8. Incentives to Tourism Enterprise located outside of TEZ•Income Tax Holiday (6 years, non-extendible)•Importation of capital equipment free of taxes and dutiesTOURISM ENTERPRISE ZONES
  9. 9. Classification of TEZs•Cultural Heritage Tourism Zone•Health & Wellness Tourism Zone•Eco-tourism Zone•General Leisure Tourism Zone•Mixed Use Tourism ZoneTOURISM ENTERPRISE ZONES
  10. 10. Ciudad De Victoria, BulacanNewport City, ParanaqueDESIGNATED TEZs.
  12. 12. SPECIAL ECONOMIC ZONE ACT (R.A. 7916)• MOA between DOT and PEZA Signed October 7, 2002• Guidelines for Registration of TEZs Effective November 12, 2002TOURISM ECONOMIC ZONES
  13. 13. SPECIAL ECONOMIC ZONE ACT (R.A. 7916)Registrable Activities• Tourism Ecozone Developers/Operators• Tourism Ecozone Locators Sports and Recreational Centers Accommodation Convention & Cultural Facilities Theme Parks Special Interest Attraction/Activities/EstablishmentsTOURISM ECONOMIC ZONES
  14. 14. SPECIAL ECONOMIC ZONE ACT (R.A. 7916)Registrable Activities• Enterprises establishing and operating airports,seaports/marinasTOURISM ECONOMIC ZONES
  15. 15. SPECIAL ECONOMIC ZONE ACT (R.A. 7916)Incentives to Tourism EcozoneDevelopers• Exemption from national and local taxes,in lieu thereof, 5% Gross Income RateTOURISM ECONOMIC ZONES
  16. 16. SPECIAL ECONOMIC ZONE ACT (R.A. 7916)Incentives to Tourism Ecozone Locators• Tax and duty free importation of CapitalEquipment• Income Tax Holiday• Employment of foreign nationals• Exemption from national and local taxes, in lieuthereof, 5% Gross Income Tax Rate• SIRV under E.O. 63TOURISM ECONOMIC ZONES
  17. 17. DECLARED ECOZONES UNDER PEZACamarines Sur Tourism ParkBoracay Eco-Cultural VillageResortIlawod Estates CabatuanIloiloPaseo Del Rio De CagayanCagayan De Oro City
  18. 18. SYMPOSIUM ON PROPERTY DATA BANKING FOR TOURISM INVESTMENTSTourism Investments Promotion GroupOffice of Tourism Standards and RegulationDepartment of TourismDECLARED ECOZONES UNDER PEZAEmbarcadero de LegazpiLegazpi CityPangulasian Island GreenTourism Economic ZoneBagong Nayong PilipinoEntertainment CityManila Bay Resorts
  20. 20. OMNIBUS INVESTMENTS CODE OF 1987 under (EO 226)Accommodation Facilities (P/NP)(Hotels, Resorts, Condotels ,Tourist Inns, Apartels/Serviced Apartments,Pension Houses, Motels,Private Homes for Homestay, Ecolodges, Bed &Breakfast facilities)• Convention and exhibition facilities (MICE)• Adventure and Eco-tourism facilities• Sport facilities and recreational centers• Agri-tourism farms and facilities• Theme parks/Amusement Parks• Tourist Transport Services• Development of Retirement Villages• Health/Medical Tourism Facilities (Spas, tertiary hospitals, ambulatoryclinics)• Tourism Training Centers/Institutes• Restoration/preservation and operation of historical shrines, landmarks andstructuresINVESTMENT PRIORITIES PLAN
  21. 21. OMNIBUS INVESTMENTS CODE OF 1987 (EO 226)PIONEER STATUS CRITERIA Hotel projects/apartment hotels/serviced apartments/condotelsclassified as First Class or Deluxe costing at least US $100,000 / roomResort projects classified as Class “AAA” with project cost of at leastUS $ 10 million per project Projects located in LDAs Modernization of hotels classified as First Class or De Luxe with a project costof at least US$ 10,000/room Amusement parks/theme parks with a minimum project cost of US$ 10million involving the development sites or attractions considered as novel inthe Philippines Adventure and ecotourism facilities/agri-tourism farms and facilities with aproject cost of at least the Philippine Peso equivalent of USD 5 million.INVESTMENT PRIORITIES PLAN
  22. 22. OMNIBUS INVESTMENTS CODE OF 1987 (EO 226)INCENTIVES TO TOURISM PRIORITYPROJECTS• Income Tax Holiday• Importation of Capital Equipment (pursuantto E.O. 70)• Employment of foreign nationalsINVESTMENT PRIORITIES PLAN
  23. 23. INCOME TAX HOLIDAY UNDER EO 226• New Projects (Pioneer) - 6 years• New Projects (Non-Pioneer) - 4 years• Expansion Projects - 3 years• Projects in Less Developed - 6 yearsAreas (regardless of status)• Modernization Projects - 3 yearsINVESTMENT PRIORITIES PLAN
  24. 24. IMPORTATION OF CAPITAL EQUIPMENT (pursuantto E.O. No. 70)• 0% duty on equipment granted to enterprisesregistered with BOI• Can be availed for five (5) years or until May2017.INVESTMENT PRIORITIES PLAN
  25. 25. INCENTIVES UNDERE.O. # 63
  26. 26. • Special Investor’s Resident Visa (SIRV)to investor, wife and unmarried minorchildren• Remittance of Earnings• Repatriation of Capital• Right of successionINCENTIVES UNDER E.O. # 63
  27. 27. • He has not been convicted of a crime involvingmoral turpitude• He is not afflicted with AIDS or any loathsome,dangerous or contagious disease• He has not been institutionalized for any mentaldisorder or disability• He is willing and able to invest at leastUS $50,000 in a tourism related projectQUALIFICATIONS:
  28. 28. TOURISM RELATED INVESTMENT LAWSFOREIGN INVESTMENTS ACT OF 1991 (RA 7042 AS AMENDEDBY RA 8179) Domestic market is open to foreign investors as long as theactivity is not restricted in the Foreign Investment NegativeList (FINL) Ownership of private lands (up to 40% foreign equity) Tourist Transport Operation (up to 40% foreign equity)Tourism Capability Building Seminar
  29. 29. OWNERSHIP OF PRIVATE LANDSGeneral Rule Nationality Requirement under the PhilippineConstitution up to 40% foreign equityTOURISM RELATED INVESTMENT LAWS
  30. 30. LEASING OF PRIVATE LANDS General Rule per PD 471 25 years - original 25 years - renewable Exception per RA 7652 or Investor’s Lease Act Minimum investment of US $5 million for tourismprojects 50 years - original 25 years - renewableTOURISM RELATED INVESTMENT LAWS
  31. 31. SUMMARYAt present, the Philippine tourism industry is verydynamic and fast growing .... more and moreinvestments are needed to sustain its growth...Focus on the National Tourism Development Clustersfor tourism investmentsInvest in Philippine tourism. When? NOW.
  32. 32. Investments. More fun in thePhilippines