THE Department of Trade and Industry (DTI) on Tuesday welcomed the signing of the Implementing Rules and Regulations for Republic Act (RA) 12079 or the VAT Refund for Non-Resident Tourists Law, noting it will boost the country's retail sector and encourage higher tourist spending.
Trade Secretary Cristina Roque said, "This milestone underscores our commitment to enhancing the Philippine tourism experience and positioning the country as a premier shopping destination. By providing nonresident tourists with VAT refund incentives, we not only elevate the competitiveness of our retail sector but also encourage greater spending that fuels local businesses and economic growth."
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