Posted: December 9, 2024
President Ferdinand R. Marcos Jr. signed into law Republic Act (RA) No. 12078, otherwise known as the Amendments to the Agricultural Tariffication Act, RA No. 12079, otherwise known as the VAT Refund for Non-Resident Tourists, and RA No. 12080, otherwise known as the Basic Mental Health and Well-Being Promotion Act, in a ceremonial signing held at the Ceremonial Hall, Malacañan Palace, Manila, 09 December 2024.
RA 12078 is a crucial response to the country's rice supply shortage by amending the Agricultural Tariffication Act to extend the Rice Competitiveness Enhancement Fund (RCEF) for six years, with an increased budget of PhP30 billion. President Marcos Jr. said that the administration recognized the need to extend and strengthen the program with the expiration of the original six-year plan for RCEF fast approaching to ensure that farmers are equipped with the right skills and tools to increase productivity.
RA 12079, on the other hand, is expected to enhance the Philippines' appeal as a premier tourism destination by allowing tourists to claim value-added tax (VAT) refunds on purchases exceeding PhP3,000 made at accredited stores, provided the items are taken out of the country within 60 days. This VAT refund scheme is projected to increase tourism spending by 29.8 percent, significantly benefiting micro, small and medium enterprises (MSMEs).
Meanwhile, RA 12080 mandates comprehensive mental health programs in all public and private basic education institutions to promote awareness and prevent suicide. It includes the creation of care centers in schools for mental health services and a Mental Health and Well-Being Office in each school division to oversee its implementation. The new law aims to institutionalize the mental health and well-being programs for both basic education learners and teaching and nonteaching personnel in public and private schools.
President Marcos Jr., in his speech, said that the new laws have the power to reshape our economy, improve the welfare of our farmers, and ensure the mental and physical health of the young Filipinos.
Finally, President Marcos Jr. emphasized that the new laws are not just policies but commitments of the administration to the Filipino farmer, the Filipino worker, the Filipino entrepreneur, the Filipino learner, and to every single citizen who dreams of a brighter, more resilient, and more progressive Bagong Pilipinas.
Presidential Legislative Liaison Office (PLLO) Secretary Mark Llandro L. Mendoza, together with other PLLO officials and staff, attended the said ceremonial signing.
