Senator Pimentel Opposes VAT-Refund Bill, Deems it Counter-Productive for Government

• Senator Aquilino Pimentel III opposes Senate Bill No. 2415 for VAT refund for non-resident tourists
• He believes the bill is misguided and presents significant risks
• Pimentel questions giving away P4 billion in tax refunds to foreigners while Filipinos suffer economic difficulties
• He suggests using the amount for building classrooms, roads, or supporting students in educational assistance
• Pimentel argues that the bill lacks assurance of boosting the economy and benefiting only bona fide non-resident tourists
• He raises concerns about the cost of implementing the VAT refund system and the need for international VAT refund operators
• Pimentel dismisses claims that the system could be implemented at no cost for the government, stating that the actual cost is yet to be determined.

Source: manilastandard.net

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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