A VALUE-ADDED tax (VAT) refund for tourists could boost economic activity in the Philippines and uncover the country's potential of becoming Asia's premier shopping destination, a government official said Thursday.
A VALUE-ADDED tax refund for tourists could boost economic activity in the Philippines and uncover the country's potential of becoming Asia's premier shopping destination, a government official said Thursday.Secretary Frederick Go, special assistant to the president for investment and economic affairs, said that the implementation of such a scheme could boost retail and tourism revenues.'Every country in Asia has a VAT refund for tourists, we don't.
He also noted the scheme's potential to attract luxury brands to the Philippines, suggesting that VAT refunds could make Manila more appealing to high-end consumers.For this part, Philippine Retailers Association President Roberto Claudio said their group has been making recommendations to the government to adopt a VAT refund scheme as an incentive for tourists to make the Philippines their choice of destination.'The VAT refund scheme for tourists will boost tourist arrival . ...
Refund Scheme Eyed For Tourists
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