A SENIOR congressman from Camarines Sur on Monday called on the Department of Finance (DOF) and the Department of Tourism (DOT) to hasten the crafting of
A SENIOR congressman from Camarines Sur on Monday called on the Department of Finance and the Department of Tourism to hasten the crafting of a value-added tax refund system for non-resident tourists to increase visitor arrivals and boost tourism revenues.
“This is why I am optimistic that the DOF, the DOT, the Bureau of Internal Revenue and other concerned agencies will expedite the crafting of a VAT-refund system for the local purchases of non-resident tourists, as provided for in Republic Act 12079 that President Marcos signed last week,” he added. The stakeholders that are to be consulted by the DOF in the crafting of the VAT-Refund System are the DOT, the BIR, the Department of Trade and Industry, the Department of Transportation, the National Economic and Development Authority, and the Bureau of Customs.
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