00:00Good news for foreign tourists because President Ferdinand R. Marquez Jr. has already signed the law that provides a value-added tax refund for the local products they buy.
00:12Details on the country's news by Clayzel Pardilla of PTV.
00:17If beach is the topic of discussion, the Philippines will not be left behind.
00:24That's why it's not surprising that Filipinos love the Philippines, just like the couple Larson and Clements from France.
00:34Well, the beaches were very nice. We really appreciated the Filipino people. They seem to be very sociable, very smiley, very nice people in general.
00:41After March, the couple will leave with memories and a small souvenir that they will buy in the country.
00:49But it looks like they will get a lot because foreign visitors who bought products here in the Philippines can now apply for a VAT refund.
01:00According to President Ferdinand R. Marquez Jr.'s law, VAT Refund for Non-Residents Tourists Act,
01:09foreign tourists who claim a 12% value-added tax refund will be allowed to include clothes, electronics, shoes, accessories, souvenirs, food, and other items.
01:26A total of P3,000 per transaction is required, equivalent to a P360 VAT refund that will be given to cash or electronic platform.
01:37We're going to go to the mall tomorrow and we saw that the prices are a lot less expensive than in countries such as France.
01:44I think it's a very good initiative. Anything that can help gross domestic consumption in each country is very good.
01:51President Marquez hopes that more tourists will visit the country because of the VAT refund.
01:59Other countries are also doing this to attract tourists.
02:04This is just one way for more tourists to come to our country.
02:10This can also encourage people to buy products here in our country.
02:15According to the Department of Tourism, the country's income from tourists will amount to P228 billion.
02:23This is more than P4 billion that the government will return in VAT refund.
02:30Aside from the economy's growth, it can also attract local producers to produce products that will provide jobs for Filipinos.
02:44Not only the Philippines has this program, but also Europe, Canada, Japan, and Australia.
02:51The Marquez Administration also ensured a solid VAT refund system.
02:57Only accredited stores will issue receipts so that we won't be fooled when tourists claim that they bought products from the Philippines.
03:12VAT refund will be obtained from accredited stores and VAT refund operators.
03:17Passports and receipts must be shown.
03:20Products must be transported outside the Philippines within 60 days of purchase.
