Cebu resorts, facilities seek TEZ accreditation
Operators of tourism destinations and facilities in Cebu await their declaration as a Tourism Enterprise Zone (TEZ) by the Tourism Infrastructure and Enterprise Zone Authority (TIEZA).
TEZ are tracts of lands designed for development as an integrated tourism complex with a prescribed carrying capacity that is enough to host tourism facilities and services, said Donald Maldonado, TIEZA manager for Evaluation & Registration Division.
Maldonado said pending applications include those coming from Emerald Resort, Mactan Newtown, Amisa Private Residences, JPark Island Resort and Waterpark among others.
TEZ applicants, he said need to comply with requirements which include TEZ Application Form, the Filing of Application and Payment of Filing Fee, the Evaluation of Pre-Qualification Documents and the Submission of Development Plan and will have to undergo evaluation before they can be recognized by TIEZA.
Accreditation would mean that TEZ recognized establishments will be getting fiscal and non-fiscal incentives from the government including a six–year income tax holiday, five percent gross income taxation, authority to lease land to foreign nationals.
Maldonado said that he is looking forward to the day when Cebu City officials would also apply for the declaration of the South Road Properties (SRP) as a TEZ.
To date, the SRP is under the Philippine Economic Zone (PEZA).
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