The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 5-2023 (13 January 2023) providing that taxpayers registered for value added tax (VAT) are no longer required to file a monthly VAT declaration (BIR Form No. 2550M).
Source: KPMG
Latest Posts in "Philippines"
- Philippine Court Clarifies Input VAT Refunds for Zero-Rated Sales to PEZA Entities
- Philippines Maintains Digital VAT Despite Trump’s Tariff Threats on American Tech Giants
- Advocacy Group Urges Complete Removal of VAT to Reduce Rising Production Costs
- Philippine BIR Clarifies Book Registration Options for New Businesses in 2025
- Philippine BIR Updates VAT Zero-Rating Requirements for RBEs’ Local Purchases