President Ferdinand R. Marcos Jr. approved the recommendations of the Private Sector Advisory Council (PSAC) to enhance efforts to boost the tourism industry following the signing into law of the VAT Refund for Non-Resident Tourists.
During Wednesday’s meeting at the Malacañan Palace, President Marcos said the recommendations of the PSAC’s tourism sector are significant initiatives to attract more tourists in the Philippines.
One of PSAC’s key recommendations is the launching of the nationwide “Shopping Festival Philippines” to coincide with the upcoming New Year’s celebrations. This is to incentivize international visitors, encourage higher spending and boost tourism revenue.
“We’ve talked about this shopping festival. Again, I think it’s properly categorized as an easy win. So, we’ll do that,” President Marcos said.
Under the newly-signed VAT Refund Law or Republic Act No. 12079, tourists can claim a refund on the Value Added Tax for goods personally purchased at accredited retail outlets within 60 days, provided they meet a minimum transaction requirement of PhP3,000.
An estimated 30 percent increase in tourist spending is projected with the new law, benefitting both large-scale industries and micro, small, and medium enterprises (MSMEs).
President Marcos said he sees no major obstacles with PSAC’s recommendation to ease visa access to AJACS (American, Japanese, Australian, Canadian, Schengen) and AJACSUK (American, Japanese, Australian, Canadian, Schengen, Singapore or UK) visa holders.
The President noted the initiative is already “the first thing” on his agenda.
“I think we should stop messing around with this system. It’s so clear already. And again, it’s something that we don’t have to pilot because it has been done for us in many, many airports,” he said.
However, the recommendation must be carefully studied, the President said, particularly in its security aspects.
The President also directed a thorough review on PSAC’s recommendation to enhance the immigration experience by introducing a digital identification system utilizing biometric data, such as facial recognition or fingerprint, to ensure seamless transaction and secure travel processing.
“It’s just a question really of putting the systems in and getting the hardware, and then slowly educating everybody how to use that hardware. For me, it’s just a question of adopting the technology and learning how to use it. As I said, everybody else in the world is doing it already,” President Marcos said. | PND
