VATupdate

Share this post on

Purchases considered ‘directly and exclusively used’

With the recent issuance of the Corporate Recovery and Tax Incentives for Enterprises (Create) Act’s Implementing Rules and Regulations (IRR), there seems to be a lot of confusion on how to treat purchases of goods and services by Registered Business Enterprises (RBEs) – whether these should be subject to value-added tax (VAT) at 12 percent or VAT at zero-rate.

Source: manilatimes.net

Sponsors:

VAT news

Advertisements:

  • AXWAY - VATupdate Banner