PBBM greenlights PSAC's proposals to bolster tourism industry

PTVPhilippines

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00:00Expanded visa access to tourists from rich or developed countries, a new sales 12% tax rebate for foreign tourists,

00:07and a shopping festival to woo tourists with money to spend are great ideas already in place to bolster the economy.

00:13PTB's Kenneth Paciente tells us more.

00:18President Ferdinand R. Marcos, Jr. approved some of the recommendations of the Private Sector Advisory Council, or PSAC,

00:24to further strengthen tourism in the country.

00:27During the meeting of the President and PSAC, he agreed to several suggestions from the Council,

00:32including the launch of the Shopping Festival Philippines, which is timely for the holiday season.

00:37This initiative aims to incentivize tourists to buy more Filipino products, thereby boosting the Philippines' tourism revenue.

00:43This follows the enactment of the VAT refund bill for non-resident tourists.

00:49Under the newly signed law, tourists can claim a refund for the value-added tax on personal products they purchased

00:55worth up to P3,000 at accredited retail outlets within 60 days.

01:00The new law is expected to increase tourist spending by an estimated 30%,

01:05bringing benefits to large companies and even micro, small, and medium enterprises.

01:10The President also sees no issues with PSAC's recommendation to ease visa access for Americans,

01:16Japanese, Australians, Canadians, Singaporeans, UK, and Shenzhen visa holders.

01:21However, he stressed the need to carefully study this recommendation, especially in terms of security.

01:27The Chief Executive also directed a review of PSAC's suggestion to improve the immigration experience for foreign tourists

01:34through a digital identification system.

01:36This will help facilitate efficient transactions and streamline travel processing.

01:41From PTV Manila, Kenneth Paciente, Balitang Pambansa.

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