DOT, DOF vow to address tourism stakeholders’ concerns

The Department of Tourism and the Department of Finance have reaffirmed their commitment to support tourism stakeholders by addressing issues affecting their operations, following a meeting held on Friday, 9 January.

Tourism Secretary Christina Garcia Frasco and Finance Secretary Frederick D. Go discussed the implementation of the Bureau of Internal Revenue’s Revenue Memorandum Circular (RMC) No. 5-2024 and its implications for the tourism sector.

The circular expands the tax exposure of foreign service providers transacting with Philippine hotels, travel agencies, and tourism associations. Officials acknowledged that addressing these concerns is crucial to mitigating the potential impact on tourism partners and industry players.

To further tackle stakeholder issues, the DOT said it will form a technical working group with the DOF and the BIR to review the concerns raised by tourism operators and explore possible adjustments or clarifications.

Meanwhile, as part of efforts to strengthen tourism resilience, the DOT and DOF also agreed to study options for establishing a quick-response fund for the tourism sector to provide support during calamities and emergencies.