Filipino government proposes VAT refund scheme for tourists to boost economic activity and attract luxury brands.
Filipino government official, Secretary Frederick Go, proposes a VAT refund scheme for tourists as a means to boost economic activity and make the Philippines a top shopping destination in Asia. The lack of a VAT refund for tourists compared to other Asian countries has been highlighted and the e-visa system aims to make travel easier for tourists visiting the Philippines. The VAT refund scheme, under consideration in the Senate, aims to persuade more luxury brands to enter the market, boost retail sales and increase tourism revenue.
August 29, 2024
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