Tourism spending, particularly in shopping, is expected to increase by 29.8 percent with the newly-signed Value-Added Tax (VAT) refund law, the Department of Tourism (DOT) said.
Tourism spending, particularly in shopping, is expected to increase by 29.8 percent with the newly-signed Value-Added Tax refund law, the Department of Tourism said.
“This law represents a monumental shift in enhancing the Philippine tourism experience, not only making us a more attractive destination but also adding substantial value to the visitor journey,” Frasco said. The DOT anticipates significant growth in tourism-related spending, which amounted to P137.4 billion in shopping alone in 2023.
Aligned with the National Tourism Development Plan 2023-2028, the VAT refund law aims to improve infrastructure, enhance accessibility, and introduce innovative digital solutions to elevate the visitor experience.
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