Finance Secretary Ralph G. Recto The Philippines has officially launched a value-added tax (VAT) refund system for foreign tourists, aiming to significantly boost tourism revenue by encouraging increased spending on local goods. According to the Department of Finance (DOF), the refund scheme...
The Private Sector Advisory Council (PSAC) applauded the signing into law of a measure granting value-added tax (VAT) refunds to non-resident tourists. In a statement, Sabin Aboitiz, PSAC lead convenor and Aboitiz Group president and chief executive officer, said the new law, a key council...
The Bureau of Internal Revenue (BIR) fully supports the newly enacted Value-Added Tax (VAT) Refund for Non-Resident Tourists law (Republic Act No. 12079) to boost tourism and the economy. In a Facebook post, BIR Commissioner Romeo D. Lumagui Jr. said that the bureau “supports the VAT Refund...
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...
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...
