On local purchases and indirect exports The government is bent on imposing a 12 percent VAT on local purchases of economic zone locators and their indirect constructive exports, and implement a refund system, emboldening locators’ objection and plans to seek court redress stating this additional...
The Bureau of Internal Revenue (BIR) has instructed field officials to promptly submit value-added tax (VAT) claim reports to facilitate the processing and release of excess payments. (Photo from BIR Facebook page) A revenue official said refunds or the issuance of tax credit certificates could not...
The Bureau of Internal Revenue (BIR) has padlocked a Parañaque City grocery for alleged non-registration and non-payment of value-added tax (VAT) amounting to more than P21 million. (Photo by Roth Melinda / Unsplash) South National (NCR) Assistant Revenue Regional Director Saripuden Bantog...
The Department of Finance (DOF) will look into the concerns raised by the Action for Economic Reforms (AER) regarding some provisions under the ratified corporate recovery and tax incentives for enterprises (CREATE) bill. Two weeks since CREATE was ratified by Congress on Feb. 3, Finance Secretary...
Officials of the Bureau of Internal Revenue (BIR) and the Federal Tax Service (FTS) of Russia have met recently to discuss the latter’s best practices that could be applied in the Philippines to further improve its tax administration and compliance. On orders of Finance...
Importation of critical medical medicines, including vaccines, are exempted from value added tax under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act starting January 1, 2021, according to Trade and Industry Secretary Ramon M. Lopez. Lopez said at the Health and the Economic...
