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.
President Ferdinand “Bongbong” Marcos Jr. has approved the recommendation to implement the Value-Added Tax Refund Program for foreign tourists by 2024 to boost tourist arrivals in the country.Communications Secretary Cheloy Garafil said this after Marcos met with the Sector Advisory Council Tourism Sector Group, which presented its “Quick Wins” recommendations to the Chief Executive on Jan. 26.
The Quick Wins proposals aim to boost the country’s tourism industry by improving airport infrastructure and operations, managing the national brand and image, and promoting tourism investments. The PSAC comprises business leaders and industry experts providing technical advice to the President in achieving the government’s economic objectives in six key sectors — agriculture, digital infrastructure, healthcare, infrastructure, jobs generation, and tourism.The Philippines recorded 2.65 million visitors from February to December 2022, over 2 million of which were foreign tourists.
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