New VAT refund law seen transforming PHL into a premier global shopping hub

Quick Summary:

The recent signing of Republic Act 12079 by President Marcos marks a pivotal moment for the Philippines as it aims to transform into a premier global shopping hub.

By introducing a value-added tax (VAT) refund system for foreign tourists, the government is not only encouraging increased spending but also positioning the nation as a competitive player in the global tourism landscape.(Read the BusinessMirror story: "PHL to become premier global shopping hub,”’ December 10, 2024).

Republic Act 12079 is a landmark legislation that has the potential to significantly reshape our tourism industry.

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Article Details

Author / Journalist: BusinessMirror Editorial

Category: BusinessStartups

Markets: PhilippinesJapanSingapore

Topics: Editorial Opinion

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-11 @ 16:03:00 (1 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 524 words

Reading Time: 3 minutes read

Sentences: 22 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 24356733

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About Business Mirror

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 33 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 9 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #37

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