Mga foreign tourists sa bansa, VAT-free na; Retail at tangible goods, kasama sa VAT refund

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Transcript

00:00Good news for foreign tourists visiting the Philippines.

00:04VAT-free for foreign tourists in the country.

00:06This is Rod Lagusan's report.

00:10It is expected that more tourists will visit the Philippines.

00:13Aside from must-see tourist destinations,

00:16VAT-free for foreign tourists in the country.

00:18This is after the implementation of Rules and Regulations or IRR

00:22of Republic Act No. 12079 or VAT Refund for Non-Resident Tourists.

00:27The aim of this is to strengthen the tourism sector

00:30and encourage foreign tourists to buy and spend in the country

00:33so that it can help the economy of the Philippines.

00:36Under this, non-residents or foreign passport holders

00:39can apply for VAT-free refunds for products purchased in the country

00:43from accredited stores that are not less than P3,000.

00:47And must be exported to the country as accompanied baggage

00:50within 60 days of purchase.

00:52VAT-free refunds include retail and tangible goods

00:55such as clothes, gadgets, jewelry, souvenirs, food,

00:58or other products for personal use.

01:01According to Finance Secretary Ralph Recto,

01:03the greater expenditure of foreign tourists here in the country

01:06means more business and work will be lost

01:10along with additional income for workers and even the government.

01:14Which is important when it comes to inflation.

01:16This is why VAT-free refund system will be available

01:19that is accessible to tourists.

01:21Which is included in the IRR that should include

01:23the approval of internationally recognized VAT-free refund operators for this.

01:28Tourism Secretary Cristina Garcia-Frasco also gave

01:31that its effect is not only in retail

01:33but also in other sectors such as accommodation, transportation,

01:36and other tourism-related activities.

01:38This includes the intramural administration

01:41that passed a Memorandum of Agreement

01:43with the Philippine Travel Agencies Association,

01:45a group of travel agencies in the country,

01:47that will help in their expansion of the Grand Santa Cruz in May

01:51where it is expected to increase the number of visitors to the intramurals

01:54including foreign tourists.

01:56This is led by Miss Universe Asia 2024 Chelsea Manalo

02:00who was born in the country in the previous Miss Universe.

02:03It's really like a whole of nation approach

02:07in having revitalizing everything here in,

02:12not just in intramurals but obviously

02:14it will trickle down to the whole Philippines.

02:17In the PTAA, this is a big benefit for the country

02:20especially for their tourism stakeholders.

02:23The most important thing is if the tourists are coming here

02:27and they will be staying longer,

02:29of course the tourism industry will really feel it

02:33because of course they will be eating, spending,

02:36and staying more in our hotels and resorts.

02:39So it's really very vital, it's a circle economy.

02:43It's a good source of income and additional incentive when shopping.

02:46It's a good reason for more tourists to visit our country.

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