Foreign tourists to enjoy VAT-free shopping in PH

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00:00The newly signed Implementing Rules and Regulations of Republic Act No. 12079, or VAT Refund for Non-Resident Tourists,

00:08aim to further boost the tourism sector and encourage more foreign tourists to shop and spend money in the Philippines,

00:15which will ultimately contribute to the country's economy. Rod Lagusad has the details.

00:23There's more reason for tourists to visit the Philippines now.

00:26Aside from the must-see tourist destinations, foreign tourists can now enjoy VAT-free shopping in the country.

00:32This comes after the signing of the Implementing Rules and Regulations of Republic Act No. 12079, or VAT Refund for Non-Resident Tourists.

00:40This tax break aims to further boost the tourism sector and encourage more foreign tourists to shop and spend in the Philippines,

00:46which augurs well for the country's economy.

00:48Under this law, non-resident or foreign passport holders can apply for VAT refunds on local purchases

00:54made in accredited stores with a minimum purchase amounting of P3,000,

00:58provided the goods are brought out of the country as accompanied baggage within 60 days of purchase.

01:03Only retail and tangible goods such as clothing, gadgets, jewelries, souvenirs, food, or other products for personal use are eligible for the VAT refund.

01:11According to Finance Secretary Ralph Recto, the increased spending by foreign tourists in the country will create more businesses and jobs,

01:18along with higher incomes per workers and more government revenues, which are essential for growth.

01:22Alongside this, the creation of VAT refund system which must be easy for tourists to use.

01:27The IR stipulates that the department should coordinate with internationally recognized VAT refund operators for this.

01:34For the part of the Department of Tourism, Secretary Cristina Garcia Frasco emphasized its impact will not only be seen in retail,

01:40but also in other sectors such as accommodation, transportation, and other tourism-related activities.

01:46Meanwhile, the Intramuros Administration, which has signed a Memorandum of Agreement with the Philippine Travel Agencies Association,

01:51a group of travel agencies in the country, says this will be beneficial for their upcoming Grand Santa Cruzan event in May,

01:57where a mass influx of visitors, including foreign tourists, is expected in Intramuros.

02:02This event will feature various historical sites in Intramuros, which will be part of the Santa Cruzan route.

02:07This will be an opportunity to showcase the rich culture and traditions of the country, including the creativity of Filipinos.

02:13This event will be led by Miss Universe Asia 2020 part Chelsea Manalo, who represented the Philippines in the recent Miss Universe competition.

02:21With the increase in visitor arrivals and the tourists that we have here, obviously it will help in bringing up their sales,

02:30the food, even the sales in the souvenirs that they sell here in Intramuros.

02:36It's really like a whole of nation approach in having revitalizing everything here in, not just in Intramuros,

02:46but obviously it will trickle down to the whole Philippines.

02:50For the PTAA, this is a significant advantage for the country, especially for tourism stakeholders like them.

02:56The most important thing is if the tourists are coming here and they will be staying longer,

03:03of course the tourism industry will really feel it because of course they will be eating, spending, and staying more in our hotels and resorts.

03:13So it's really very vital. It's a circle economy.

03:17Beautiful tourist destinations plus the added incentive when shopping are more than enough reasons for more tourists to visit the country.

03:24Rod Legusad, from the National TV Network, for a new and better Philippines.

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