Law gives non-resident tourists VAT refund

Non-resident tourists will soon be entitled to a refund of the value-added tax (VAT) on local goods they purchased, as President Marcos yesterday signed into law a refund mechanism to boost the Philippines' competitiveness as a shopping destination.

- Alexis Romero, Bella Cariaso, Cecille Suerte Felipe, Jasper Emmanuel Arcalas, Keisha Ta-asan, Louella Desiderio, Mark Ernest Villeza

Under the measure, non-resident tourists may claim a refund on the VAT for goods personally purchased at accredited retail outlets, provided the goods are taken out of the country within 60 days and meet a minimum transaction requirement of P3,000.

During the signing of Republic Act 12079, Marcos said the VAT refund would stimulate more spending, promote the Philippines as a premier global shopping destination and put a spotlight on the country's local products.

"It is no secret that shopping has become an essential part of the travel experience and we are poised to capitalize on that momentum," the President said.