Goa tourism industry needs tax sops: Industry
Panaji |Sunday, 2009 6:35:06 PM IST
 

The state tourism industry should be granted tax sops in the budget to be presented by Finance Minister Pranab Mukherjee Monday, a leading industry chamber here has said.

According to the Goa Chamber of Commerce and Industry (GCCI), the state's tourism infrastructure also needed 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," chamber president Cesar Menezes 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," Menezes said.

Menezes said selective tax concessions specifically designed for the export sector would similarly help the considerably large and export-oriented pharmaceutical industry in Goa.

maya/ank/dg

( 184 Words)

2009-07-05-17:35:08 (IANS)

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