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Senate Approves VAT Refund for Non-Resident Tourists Bill on Third Reading


October 1, 2024
Updated on October 1, 2024
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The Senate approved on third and final reading Senate Bill (SB) 2415, An Act Creating a Value-Added Tax (VAT) Refund Mechanism for Non-Resident Tourists, on September 23, 2024. SB 2415 effectively adds a new section, Section 112-A, under Chapter I, Title IV of the National Internal Revenue Code of 1997 which outlines the provisions on VAT refund for a non-resident foreign passport holder. The House of Representatives earlier passed the counterpart measure or House Bill (HB) 7292 on March 6, 2023.

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