A HOTEL operator is seeking tax breaks for its 68-room hotel project located in Cagayan de Oro City, according to a notice published by the Board of Investments (BoI) yesterday.
Bonne Business Corp. has applied for incentives for its 68-room hotel project in Cagayan de Oro City. I believe Bonne is the corporate name for the operator of N Hotel located in Kauswagan. In fact, Bonne Hotel was the initial name posted onsite.
The firm has applied for a non-pioneer status which means if the BoI approves it will enjoy a four-year income tax holiday according to the Omnibus Investment Code of 1987.
Tourism infrastructure is among the preferred activities eligible for tax perks under the current Investment Priorities Plan.
Aside from an income tax holiday, firms registered with the Board of Investments are exempted from duties for imported equipment