The Department of Trade and Industry (DTI) celebrated the signing of the Implementing Rules and Regulations (IRR) for Republic Act 12079, which establishes a VAT refund system for non-resident tourists.
Trade Secretary Cristina Roque highlighted that the law aims to boost the retail sector and attract more tourist spending by allowing foreign visitors to claim VAT refunds on purchases over P3,000.
The new system, which applies to items such as clothing, electronics, and jewelry, requires tourists to export the goods within 60 days of purchase.
Finance Secretary Ralph Recto and other officials signed the IRR on March 24, with the law expected to position the Philippines as a competitive shopping destination.
The measure is anticipated to boost local businesses, create jobs, and contribute to economic growth.
Source: PhilNews24 | March 26, 2025
