The enactment into law of the measure providing for a Value Added Tax (VAT) Refund Mechanism for non-resident tourists will boost tourist arrivals in the Philippines beginning next year, Sen. Sherwin Gatchalian said.
The enactment into law of the measure providing for a Value Added Tax Refund Mechanism for non-resident tourists will boost tourist arrivals in the Philippines beginning next year, Sen. Sherwin Gatchalian said.Gatchalian, chairman of the Senate Committee on Ways and Means, said he is optimistic that starting January 2025, the Philippines can expect increase in tourist arrivals once the VAT refund mechanism is in place.
The senator sponsored and authored the said measure with the aim of making the Philippines at par with its Asian neighbors that benefitted in the VAT refund scheme.At the same time, he said the measure is aligned with the Marcos administration’s efforts to boost tourism in the country.
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