PH allows 12% VAT refund for foreign tourists

PTVPhilippines

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Transcript

00:00On top of our news, tourist arrivals to the country last year reached 14.7 million,

00:0654% more than the 8-plus million who did in 2019.

00:10Yet more visited Vietnam in 2024 with 17.6 million arrivals,

00:16or Malaysia with 25 million, and Thailand with over 35.5 million.

00:21The Philippines may have stunning beaches, top-notch hospitality,

00:25and far more and better English speakers,

00:28but Vietnam, Malaysia, and Thailand offer tourists more bang for their buck.

00:34So government conceives a tax break or a credit scheme via its VAT rebate program

00:40that is sure to bring in more visitors, as our Floyd Brands reports.

00:47The beautiful beaches of the Philippines and the friendly nature of Filipinos

00:51left a lasting impression on Larson and Clements, a married couple from France.

00:56Well, the beaches were very nice. We really appreciated the Filipino people.

00:59They seemed to be very sociable, very smiley, very nice people in general.

01:02As March comes to a close, the couple is preparing to leave with unforgettable memories

01:07and a few souvenirs they plan to buy in the country.

01:10Good news for foreign visitors.

01:12Malacanang has announced that international tourists can now apply for a VAT refund

01:17or tax rebate for purchases made in the country.

01:20According to the VAT Refund for Non-Residents Tourist Act,

01:23signed into law by President Ferdinand R. Marcos, Jr.,

01:26foreign tourists can claim a 12% value-added tax refund on local purchases.

01:32This applies to locally purchased items including clothing, electronic, jewelry,

01:37accessories, souvenirs, food, and more, totaling up to P3,000 per transaction.

01:43The VAT refund is equivalent to P360, which will be refunded via cash or an electronic platform.

01:51We're going to go to the mall tomorrow and we saw that the prices are, well,

01:54a lot less expensive than in countries such as France.

01:57I think it's a very good initiative.

01:59Anything that can help, well, gross domestic consumption in each country is very good.

02:04The Marcos administration aims to encourage more tourists to visit the country.

02:09Other countries are also doing this to attract tourists.

02:14This is just one way for more tourists to come to our country.

02:20This will also encourage more tourists to buy products here in our country.

02:26The Department of Tourism projects the country's economic output from tourist spending will grow

02:31to P228 billion, far surpassing the P4 billion in VAT refunds from the government plans to issue.

02:39Beyond boosting the economy, the program is expected to support local producers,

02:43resulting in more job opportunities.

02:45This initiative is not unique to the Philippines.

02:48Similar programs are also in place in Europe, Canada, Japan and Australia.

02:52The Marcos administration has ensured a robust VAT refund system.

03:11VAT refunds can be processed at accredited stores and VAT refund operators.

03:16Tourists will need to present a passport and receipt,

03:19and the purchased products must be taken out of the Philippines within 60 days of the purchase.

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