00:00The Implementing Rules and Regulations of the VAT Refund Act for Non-Resident Tourists have been passed.
00:06In a radio interview with the Department of Tourism, Secretary Maria Cristina Garcia-Frasco,
00:12she said that foreign visitors to the country will now have a VAT refund.
00:17Products purchased in the Philippines are of great help to tourism in the Philippines
00:22because according to the United Nations World Tourism Organization,
00:2550% of tourists go shopping, which is the main reason for visiting a country.
00:32Frasco added that this is also a way for the Philippines to be globally competitive, especially in ASEAN.
00:41This also allows for the Philippines to be globally competitive and especially in the ASEAN
00:47where our neighbors and competitors have also passed their own VAT refund mechanisms.
00:54In terms of our local industries, it is very important to pass this because it will give added benefits
01:03to our tourism destinations in terms of the shopping of our local goods.
