By Liezelle Soriano
MANILA — President Ferdinand “Bongbong” Marcos Jr. has signed into law a measure that grants a refund of Value Added Tax (VAT) for non-resident tourists, aimed at attracting more visitors to the Philippines.
The VAT Refund System will apply to goods purchased locally.
During the signing ceremony on Monday (December 9, 2024), Marcos emphasized that the law also provides an opportunity to promote the Philippines’ unique craftsmanship and indigenous products in communities near local tourist destinations.
“It is no secret that shopping has become an essential part of the travel experience, and we are poised to capitalize on that momentum. In 2023, the Philippine tourism sector played an instrumental role in our nation’s economic recovery, contributing an impressive 8.6 percent to the GDP. Within this significant share, shopping emerged as the second-largest expenditure for inbound tourists,” the President said.
“With this in mind, we are introducing the VAT refund program for non-resident tourists—designed not only to stimulate more spending but to promote the Philippines as a premier global shopping destination,” he added.
Under this program, tourists can claim a refund on purchases made at accredited stores worth at least P3,000, provided the goods are taken out of the country within 60 days of purchase.
ia/mnm
