VAT refund mechanism sa foreign tourists, malaking tulong sa turismo ng bansa at MSMEs ayon kay DOT Sec. Frasco
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NewsTranscript
00:00The Department of Tourism believes that a big help is coming for the implementation of battery fans for the tourists who now have implementing rules and regulations.
00:12For Tourism Secretary Christina Frasco, the United Nations World Tourism Organization studies that 50% of tourists shop or buy because of their visit to a country.
00:27She believes that the Philippines will benefit from this to make our tourism sector globally competitive.
00:36Aside from that, a big help is the so-called refund mechanism for the regulation of our local market, especially small businesses and creative industries.
00:49This will give added benefits to our tourism destinations in terms of the shopping of our local goods.
00:59This will also help our local small and medium enterprises and our creative industries.
01:06And of course, there will be more tourists because there is an added reason to come to the Philippines.
01:12First of all, you have to be a holder of a foreign passport.
01:16And the goods must be purchased in stores that are accredited by the private operator of the VAT refund mechanism to be procured by the Department of Finance.
01:31And once you purchase the goods that have a value of at least P3,000, you need to bring it out of the country within 60 days.