BIR insiders said many of meat importers classify the products including palm oil and other ingredients for used in the manufacture of animal feeds to avoid the VAT.
Importation of livestock and poultry products for human consumption are subject to 12 percent VAT.
Source: com.ph
Latest Posts in "Philippines"
- Philippines Launches VAT Portal for Non-Resident Digital Service Providers to Enhance Compliance
- Philippines Faces Potential Tariffs as Trump Targets Countries with Digital Taxes
- Philippines Announces VAT Exemption on Medicines to Lower Healthcare Costs and Improve Access
- Philippines President Approves VAT Refund Program to Boost Tourism by 2024
- Philippine Court Clarifies Input VAT Refunds for Zero-Rated Sales in Outsourcing Services Case