The Department of Finance (DOF) backs bid to extend travel tax exemption to all passengers traveling in the Brunei Darussalam-Indonesia-Malaysia-the Philippines East ASEAN Growth Area (BIMP-EAGA).
In a memorandum to the Office of the President issued last month, Finance Secretary Gary Teves said that the Philippine government may extend the privilege of travel exemption to passengers departing from Mindanao and Palawan to any destination within the BIMP-EAGA for another three years, ending until September 2012.
The memorandum also cited that the said measure would be beneficial to the “growth area concept” which promotes cooperation among the BIMP countries and for the promotion of tourism and investment in the sub-region.
The proposal for extension was prepared and submitted by the Mindanao Economic Development Council (MEDCo).
DOF submitted the recommendation to the Office of the President who will give the final approval for the said measure through a Memorandum Order (MO). The Philippine Tourism Authority (PTA) has earlier submitted their letter of concurrence last year. (MEDCo)