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
Latest Posts in "Philippines"
- Philippines Considers VAT Cut, Fiscal Incentives to Boost Garment Industry Competitiveness
- BOC’s Zero VAT Procedures: Streamlining Export Import Logistics and Compliance for Export-Oriented Enterprises
- Philippines Extends E-Invoicing Compliance Deadline for Large Taxpayers to December 31, 2026
- Philippine Tax Court Partially Grants Petition, Invalidates VAT and Compromise Penalty Assessments
- Supreme Court Rules Condominium Association Dues Not Subject to Value-Added Tax (VAT)
