Solon seeks to declare the Philippine Arena as a tourism enterprise

A lawmaker has filed a bill that seeks to declare the Philippine Arena as a tourism
enterprise.
Rep. Ben Evardone (Lone District, Eastern amar! filed "ouse Bill #$%& mandatin'
the Department of (ourism (D)(! in coordination with the (ourism *nfrastructure and
Enterprise +one Authorit, ((*E+A! to immediatel, take steps to facilitate and assist in the
formulation and implementation of a tourism development plan.
(he bill also aims to e-empt the arena from the pa,ment of application and similar
fees and related char'es and allows it to en.o, appropriate incentives and benefits
similarl, en.o,ed b, re'istered tourism enterprises.
Evardone said the Philippine Arena, a multi/purpose arena in 0iudad de 1ictoria,
Bocaue and anta 2aria, Bulacan has a minimum capacit, of 33,444 seats, thus dubbed as
the world5s lar'est indoor arena.
Built on a 66,744 s8uare meters of land and has a dome of 9&,444 s8uare meters, it
is the centerpiece of the man, centennial pro.ects of the *'lesia :i 0risto (*:0! for their
'rand centennial celebration.
(he Arena will not onl, hold ma.or church 'atherin's, but will also operate as a
multi/use sports and concert venue, capable of holdin' a ran'e of events from bo-in' and
basketball to live music performances.
Evardone, 1ice/0hairperson of the 0ommittees on Appropriations and Public
*nformation, said the overall vision of the master plan would eventuall, see inclusion of
shoppin' centers, a hospital and lar'e/scale residential developments.
;(rul,, the Philippine Arena is, b, and lar'e, a 'ift to Philippine tourism and to the
<ilipino people,= Evardone stressed.
Evardone said the measure also proposes the 'rant of appropriate and available
fiscal and non/fiscal incentives and benefits made retroactive to the initial phase of the
Arena5s construction.
Evardone added that under current laws, fiscal incentives that ma, possibl, be
en.o,ed b, re'istered tourism enterprises include &/,ear income ta- e-emptions and>or
holida,s? net operatin' loss carr,/over incentive and pa,ment of five percent of the 'ross
income ta-ation in lieu of all other national and local ta-es, license fees, imports and
assessments.
NR # 3566
AUG 22, 2014
)ther fiscal incentives include @44/percent ta- and customs duties e-emption from
importation of capital investment and e8uipment? transportation e8uipment and spare parts
ta- and customs duties e-emption and social responsibilit, incentive.
Evardone said non/fiscal incentives that ma, be en.o,ed include emplo,ment of
forei'n national? special investor5s resident visa incentive? forei'n currenc, transactions
incentives like repatriation of investments, remittance of forei'n e-chan'e, incentives
involvin' forei'n loans and contracts? non/re8uisition of investments? lease and ownership
of land.
Ander the measure, the D)( and the (*E+A and other concerned a'encies are
mandated to promul'ate the necessar, rules and re'ulations for the proper implementation
of this proposal. (94! lvc