The Goa Chamber of Commerce and Industry (GCCI) has said that the Goa tourism industry should be granted tax sops in the budget to be presented by Finance Minister Pranab Mukherjee today, reported Thaindian.com. According to GCCI, the state’s tourism infrastructure also needed to be upgraded if it were to compete with other tourist destinations the world over.
“The GCCI has requested the Finance Minister for tax exemptions under section 80 ID to be extended to cover tourism infrastructure such as amusement parks, water sports and marinas,” Cesar Menezes, President, GCCI said in a statement. Section 80 ID of the Income Tax act presently provides for a five-year tax holiday to new hotels of two, three and four-star categories and convention centres. “Though Goa ranks very high among favoured tourist destinations in the world, the state grossly lacks in world class tourism infrastructure,” said Menezes. |