Up to now, Japanese investors mostly in the Philippines' manufacturing sector are still awaiting the refund of value-added tax (VAT) credits totaling P200 billion from the government, a chamber official said. Moving forward, Japanese firms in the country are "fully" supporting the passage of the...
Special Assistant to the President for Investment and Economic Affairs Frederick Go said the Philippines could still be Asia's "shopping hub" if the government implements an electronic visa (e-visa) and a value-added tax (VAT) refund scheme for foreign tourists. File photo Speaking to reporters in...
Senator Sherwin Gatchalian said he is optimistic that the Philippines has the potential to boost its reputation as a shopping destination. Sen. Sherwin Gatchalian (Senate PRIB Photo) This, once the proposed measure...
Senator Sherwin Gatchalian (Senate PRIB) Senator Sherwin Gatchalian wants to boost foreign tourist arrivals in the country and create more jobs with the establishment of a mechanism for the refund of value-added tax (VAT). “To be truly competitive with its peers in the Asia Pacific region, the...
President Ferdinand Marcos R. Marcos Jr. has accepted recommendations from the private sector to extend e-Visa upon arrival to Chinese and Indian nationals and the implementation of VAT Refund Scheme for Tourists (VRST) to further boost tourism in the country. In a statement, the Private Sector...
The Philippines’ tourism industry will experience a boost once the proposed implementation of the value-added tax (VAT) refund program for foreign tourists is implemented, Sen. Sherwin Gatchalian said on Friday, February 17. Gatchalian, chairman of the Senate Committee on Ways and Means, said he...
The Value-Added Tax (VAT) Refund Program for foreign tourists, which was recently approved by President Ferdinand R. Marcos Jr., is a welcome development. The program, which is set for implementation in 2024, is among the proposals the Private Sector Advisory Council (PSAC) presented to Marcos to...
Several senators on Monday, January 30 said they are amenable to the government's move to grant Value-Added Tax (VAT) refunds to foreign tourists but stressed the need for public consultations on the matter. Senator Nancy Binay said she welcomes President Ferdinand “Bongbong” Marcos Jr.’s...
President Ferdinand "Bongbong" Marcos Jr. has approved the recommendation to implement the Value-Added Tax (VAT) Refund Program for foreign tourists by 2024 to boost tourist arrivals in the country. TOURISTS enjoy the sunset at world-famous Boracay Island in Malay town, Aklan province. (Tara Yap)...
