The lawmaker also clarified that SB 250 does not impose new taxes but “merely strengthens and streamlines” the Bureau of Internal Revenue’s authority to collect VAT on digital transactions by providing measures on how resident and non-resident digital service providers should comply with the country’s VAT requirements as provided by the National Internal Revenue Code (NIRC).
Source: gmanetwork.com
Latest Posts in "Philippines"
- Philippines Extends Deadline for Mandatory Structured E-Invoicing to December 31, 2026
- Navigating Output VAT Credit Under the EOPT Act: Key Rules and Remedies for Taxpayers
- Philippine Court Denies VAT Refund for Prescription Drugs Due to Insufficient Proof of Non-Claim
- DOF Denies VAT Hike Rumors, Urges Officials to Stop Spreading Fake News
- DOF Denies VAT Hike, Urges Responsible Reporting Amid Revenue Collection Updates and Reforms














