15
Feb
Airfare Down, Tourism Up: Travel Tax Abolition to Generate P22B Revenue, Says Miro Quimbo
Airfare Down, Tourism Up: Travel Tax Abolition to Generate P22B Revenue, Says Miro Quimbo The proposal to scrap the travel tax, formalized in House Bill 7443, authored by House Majority Leader Ferdinand Alexander “Sandro” Marcos, has gained significant momentum. Recently included in the Legislative-Executive Development Advisory Council (LEDAC) priority list, the measure is being fast-tracked with a target passage before the June break. Rep. Quimbo describes the tax as a “relic” of a different era. Originally imposed during the administration of Ferdinand Marcos Sr. in 1977, the tax was designed to limit the outflow of foreign currency at a...