The Private Sector Advisory Council (PSAC) said it supports President Ferdinand Marcos Jr.’s signing into law of a measure inspired by the council’s
The Private Sector Advisory Council said it supports President Ferdinand Marcos Jr.’s signing into law of a measure inspired by the council’s recommendation to offer value-added tax refunds to non-resident tourists.
“This legislation embodies the productive collaboration between the private sector and the government,” said Sabin Aboitiz, PSAC lead convenor and Aboitiz Group president and chief executive. “This initiative not only aligns with global best practices but also highlights the unique creativity and entrepreneurial spirit of Filipino artisans. It fosters sustainable growth while promoting our diverse products to the world,” said Claudio.
President Marcos, on Nov. 11, 2024, enacted the CREATE MORE Act, a transformative law incorporating PSAC’s recommendations to encourage hotel expansions and renovations. “Expanding the Philippines’ hotel capacity is crucial for attracting more tourists and ensuring they experience world-class accommodations,” said Lourdes Josephine Gotianun-Yap, PSAC tourism sector member and vice chairperson of Filinvest Development Corp.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PSAC hails law on VAT refunds to non-resident touristsLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Marcos enacts law creating VAT refund system for non-resident touristsPresident Marcos has signed into law that aims to attract more non-resident tourists to the country by providing them a Value Added Tax (VAT) Refund System on locally purchased goods.
Read more »
Marcos signs VAT refund law for non-resident touristsSunStar Publishing Inc.
Read more »
PSAC pushes brown rice, half-cup rice initiative to ensure food securityLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
PSAC pushes half-cup rice to promote food securityThe Private Sector Advisory Council (PSAC) for agriculture sector, in partnership with President Ferdinand Marcos Jr., is driving efforts to promote food
Read more »
Marcos okays ‘shopping festival,’ relaxed visas among measures to boost tourismPresident Ferdinand Marcos approved recommendations from the Private Sector Advisory Council (PSAC) to enhance the country’s tourism sector. During a
Read more »