Manila, March 25 -- The launch of the value-added tax (VAT) refund mechanism for foreign tourists is a crucial step in positioning the Philippines as a premier travel destination in the region, Senator Sherwin Gatchalian said Tuesday.
Gatchalian said the long-awaited measure is expected to spur tourism-driven development beyond urban centers, with tourists' spending helping to fuel local economies, boost consumption, and create jobs.
"This is the result of our long-standing efforts in the Senate. More spending from tourists means more income for our businesses and workers," he said.
However, the senator emphasized the need for the Department of Finance (DOF) to implement the program efficiently and without hassle, noting that its succe...
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