12% Value Added Tax refund for tourists in the Philippines in 2024
Good news to tourists and kababayan visiting the Philippines. President Ferdinand Marcos Jr. approved 12 percent value-added tax (VAT) refund for foreign tourists starting 2024.
The move is aimed to boost and revitalize tourism industry that was on a standstill for two years during the pandemic lockdown. Local business enterprises will also be incentivized as tourists facilities and airports gets a major facelift, according to PNA, PCO statement.
In addition to making things easy for foreign visitors, tourists from China, India, South Korea and Japan can get tourist visa online, a first for Philippine tourism.
Can Filipino balikbayan avail of the tax refund?
Yes, balikbayan who used their foreign passport to enter the country can avail of the VAT exception. They can refund the added tax upon existing the country.