Tag page - value addex tax (VAT)

Reducing the value-added tax (VAT) to 10 percent from the current 12 percent would erode the government’s fiscal consolidation, with total revenues expected to decline by an average of ₱330 billion annually, or one percent of the country’s economic output. “From our estimates, the reduction...

Compliance is high among foreign digital giants, as the Bureau of Internal Revenue (BIR) reported strong initial collections from the value-added tax (VAT) on digital services. Total tax haul from the imposition of the 12-percent consumption levy on digital services in June has reached ₱2.8...

The Bureau of Internal Revenue (BIR) has introduced simplified procedures for value-added tax (VAT) refund claims, as part of its implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) MORE Act. Detailed in Revenue Memorandum Circular (RMC) No. 37-2025, the changes aim...