The proposed measure seeks to establish a VAT refund scheme for non-resident tourists on goods that cost at least P3,000 and are exported from the Philippines within 60 days of purchase and could contribute up to P12.8 billion to the Philippines’ gross domestic product (GDP) through increased spending and additional jobs, an official of the National Economic and Development Authority (NEDA) said on Wednesday.
Source: bworldonline.com
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