In taxation, it is a basic rule that every transaction must be supported by a valid and relevant proof to establish the existence of either a taxable or non-taxable event. However, no matter how many stacks of documents you keep, if these do not comply with the requirements of the tax laws, they will not serve their purpose.
Source: PwC
Latest Posts in "Philippines"
- Philippine Court Voids VAT Assessment for Lack of Annexes, Upholds Zero-Rating for Freeport Sales
- BOC Assigns Procedural Code 062 for VAT on Local Sales to Domestic Market Enterprises
- BIR Takes Over VAT Oversight on Local Sales from Bureau of Customs
- Supreme Court Ruling Clarifies VAT Zero-Rating for Freeport and Ecozone Enterprises in the Philippines
- Philippines Considers VAT Cut, Fiscal Incentives to Boost Garment Industry Competitiveness
