Tax reforms are needed to help unlock the region's full potential

Progress towards tax reforms, which ease burdens on tourism, travel services companies and consumers, was made in discussions among delegates of the 45th APEC Tourism Working Group Meeting in Macao.

The reform project was initiated by the Philippines in 2013 and co-sponsored by South Korea and Mexico. It aims to analyze taxation strategies that maximize the competitiveness of destinations by providing a holistic and comparative assessment of tax polices and degrees of impact on the travel industry, including both tourists and businesses.

The pursuit is part of broader efforts to advance service trade in the Asia-Pacific region.