Underperforming Philippines Extends Tax Breaks to Attract Tourism Investors
The Philippines is extending tax incentives for another decade to help stimulate investments in its tourism enterprise zones to help it achieve an ambitious goal of luring 12 million foreign arrivals by 2022.The incentives were to have expired by the end of this year. The zones are designated and supervised by the Tourism Infrastructure and Enterprise Zone Authority. They include sites in destinations such as Cebu, Palawan, Manila, Bataan, Bohol, and Surigao del Norte.