A senior lawmaker on Sunday called on the Departament of Finance (DOF) and Department of Tourism (DOT), the Bureau of Internal Revenue (BIR) and other concerned agencies to expedite the creation of a value-added tax (VAT) refund system for non-resident tourists to drive visitor arrivals back to or even...
A senior lawmaker on Sunday called on the Departament of Finance and Department of Tourism , the Bureau of Internal Revenue and other concerned agencies to expedite the creation of a value-added tax refund system for non-resident tourists to drive visitor arrivals back to or even surpass pre-pandemic levels, significantly increasing tourism revenue.
“This is why I am hoping that the DOF, DOT, BIR, and other concerned agencies can go full tilt on crafting the VAT refund system for the local purchases of non-resident tourists, as provided for in RA 12079,” Villafuerte said. RA 12079 grants this tax-free privilege by amending the National Internal Revenue Code of 1997 to add Section 112-A on establishing this VAT refund system for non-resident foreign passport holders.
Villafuerte said that apart from encouraging higher spending among non-resident tourists, the VAT refund will also “promote the Philippines’s unique craftsmanship of indigenous products in communities near local tourist destinations.” Meanwhile, the lawmaker explained that under RA 12079, non-resident tourists can claim a VAT refund on their purchases with single transactions amounting to at least P3,000 in duly accredited stores, so long as these goods are taken out of the Philippines within 60 days of purchase.
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