The Philippines’ tourism industry will experience a boost once the proposed implementation of the value-added tax (VAT) refund program for foreign tourists is implemented, Sen. Sherwin Gatchalian said on Friday, February 17.
The Philippines’ tourism industry will experience a boost once the proposed implementation of the value-added tax refund program for foreign tourists is implemented, Sen. Sherwin Gatchalian said on Friday, February 17.
The figure is a minimal amount compared to the revenue from potential tourist arrivals that can drive the country’s overall economic growth. The internal estimate is based on pre-pandemic levels, he pointed out. Earlier, the Department of Tourism reported a total of 2.65 million visitors from February to December last year, significantly higher than the 163,879 tourists recorded in 2021. However, this is considerably lower compared to the 8.26 million total number of tourists recorded prior to the Covid-19 pandemic.
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