DEPARTMENT of Tourism (DoT) Secretary Christina Garcia Frasco expressed elation at President Ferdinand Marcos Jr.'s signing of the Value-Added Tax (VAT) refund mechanism for non-resident tourists on Dec. 9.
DEPARTMENT of Tourism Secretary Christina Garcia Frasco expressed elation at President Ferdinand Marcos Jr.'s signing of the Value-Added Tax refund mechanism for non-resident tourists on Dec. 9. Frasco praised President Marcos Jr.'s leadership, leading to the passage of this landmark law which boosts the country's tourism draw. Frasco said: 'The passage of the VAT Refund Law for tourists marks a monumental shift in the way we enhance the Philippine tourism experience.
Refunds apply to goods bought in person at accredited stores, provided these items are taken out of the country within 60 days of purchase.According to the DoT, the VAT refund program is expected to significantly boost tourism-related spending. The House Committee on Ways and Means projects a 29.8 percent increase in tourist expenditures.The VAT refund mechanism complements the DoT's ongoing initiatives under the National Tourism Development Plan 2023–2028.
Hails PBBM's Signing Of VAT Refund Law For Tourists
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