The Department of Finance (DOF) has released draft rules for a VAT refund system to boost the Philippines as a tourist shopping destination.
The rules allow tourists to claim refunds on VAT for locally purchased goods, provided they buy from accredited stores and take the items out of the country within 60 days.
Only tangible goods, like clothing, electronics, and jewelry, purchased with a single transaction of at least P3,000 will qualify for the refund.
Tourists must present their passports and an electronic travel system-issued QR code at accredited stores to begin the process, with refunds issued at airports or seaports.
The program, which was signed into law by President Marcos in December, is expected to stimulate tourism spending and create jobs, despite an estimated revenue loss of P4.5 billion to P6 billion annually.
Source: PhilNews24 | March 13, 2025
