Philippines to offer VAT refund to foreign tourists

The Philippines is set to launch a value-added tax (VAT) refund programme for foreign tourists in 2024 to attract more visitors, according to the country’s Presidential Communications Office (PCO).

Monday, January 30, 2023 17:48

Philippines to offer VAT refund to foreign tourists ảnh 1

A beach in Boracay Island of the Philippines (Photo: AFP)

Hanoi (VNA) – The Philippines is set to launch a value-added tax (VAT)refund programme for foreign tourists in 2024 to attract more visitors, accordingto the country’s Presidential Communications Office (PCO).

The programme wasrecently approved by President Ferdinand Marcos, Reuters reported.

The Philippine Governmentcollects a 12% VAT on goods consumed within the country.

The plan is to allowforeigners to get a VAT refund on items they are taking out of the Philippines,similar to what many other countries offer.

The measure is amongthe proposals a private sector advisory council presented to Marcos recently toboost the tourism industry, including improving airport infrastructure andoperations and promoting tourism investment, the PCO said in a statement,noting the President has also approved the launch of an online visa this yearfor Chinese, Indian, Republic of Korean, and Japanese tourists.

The Philippines recorded 2.65 millioninternational visitors last year, who brought in an estimated 3.68 billion USDin revenue, exceeding its 2022 target of 1.7 million tourists, according to theDepartment of Tourism.

Last year's total arrivals comprised 2.02million foreign nationals and 628,445 Filipinos based abroad, comparedwith only 163,879 tourists recorded in 2021 and significantly lowerthan the pre-pandemic annual level of 8.26 million.

The country’s Government aims to boost visitor arrivals this year to 4.8million./.

VNA

#Philippines #value-added tax #VAT refund #foreign tourists #Ferdinand Marcos #Philippine Government #international visitors #Vietnamplus #Vietnam News Agency Philippines

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