Section 73Sec./Art. 73

Collection and Allocation of Travel Taxes. - For purposes of this Act, the TIEZA shall be the principal agency responsible for the timely collection of travel taxes.

Amounts to be collected by the TIEZA shall be distributed in the manner provided for under this Act: Provided, That the national government shall look for alternative funding sources for programs funded by the travel tax in the event of a phase out of travel tax collection following international agreements.

Pursuant to Section 72 of this Act, fifty percent (50%) of the proceeds from travel tax collections shall accrue to the TIEZA.

The governments contribution to the Higher Education Development Fund, equivalent to forty percent (40%) from the total gross collections of the travel tax, shall be retained: Provided that the Commission on Higher Education (CHED) shall give priority to tourism - related educational programs and courses. The ten percent (10%) share of the National Commission for Culture and the Arts from the total gross collections of the travel tax shall likewise be retained.