The House Committee on Ways and Means on Monday approved a measure creating a mechanism through which non-resident tourists may refund their value-added tax (VAT).
During the hearing, Nueva Ecija Rep. Mikaela Angela Suansing, committee senior vice chairperson, said tourist spending is estimated to increase from PHP10.6 billion to PHP42.3 billion within a year after the bill is enacted into law and implemented.
Source: pageone.ph
