MANILA, Philippines - A Liberal Party lawmaker has filed a bill that seeks to declare the Philippine Arena in Bulacan as a tourism enterprise entitled to certain tax incentives.
Eastern Samar Rep. Ben Evardone said the sprawling facility, built by the Iglesia Ni Cristo (INC), is a multi-purpose indoor aren!a in Bocaue and Sta. Maria towns.
“With a minimum capacity of 55,000 seats, it is the world’s largest indoor arena. It is the centerpiece of the many centennial projects of INC for their grand celebration (last) July 27,” he said.
“The arena will not only hold major church gatherings, it will also operate as a multi-use sports and concert venue, capable of holding a range of events from boxing and basketball to live music performances. There is a clear line of sight for every seat from each tier, even for various arena configurations such as church ceremonies, international boxing, tennis, concerts or indoor gymnastics,” he said.
He added that eventually, malls, a hospital and residential buildings would be included in the complex.
“Truly, the Philippine Arena is, by and large, a gift to Philippine tourism and to the Filipino people,” he said.
Evardone pointed out that a tourism enterprise is entitled to certain tax incentives, including payment of five percent of gross income in lieu of all national and local taxes and 100 percent Customs duty exemption for equipment importation.
Aside from declaring the facility a tourism enterprise, the bill mandates the Department of Tourism (DOT), in coordination with the Tourism Infrastructure and Enterprise Zone Authority and other concerned agencies, to formulate a tourism development plan for the area.
The DOT is also directed to include the arena in its overall tourism master plan.