The House of Representatives on Wednesday approved on second reading a bill granting Value Added Tax (VAT) refund for outbound tourists.
The measure, numbered House Bill 7292, provides that a tourist is eligible for a VAT refund on goods purchased from accredited retailers in the Philippines, provided that such goods are taken out of the country within 60 days from the date of purchase and the value of goods purchased per transaction amounts to at least P3,000.
Source: MSN
