The Bureau of Internal Revenue (BIR) has allowed the monthly filing and payment of value added tax (VAT) for registered taxpayers in a bid to further improve the tax collection efforts of the agency.The BIR decision made the filing flexible amid the mandated quarterly submission of returns specified in the Tax Reform for Acceleration and Inclusion Law.
Source: mb.com.ph
Latest Posts in "Philippines"
- Bill Seeks to Halve VAT on Electricity to Lower Power Costs and Boost Investments
- IMF Warns Philippine Tax Amnesty May Delay Debt Reduction, Undermine Long-Term Tax Compliance
- IMF Urges Philippines to Boost Tax Collection, Cut Debt for Sustainable Economic Growth
- Philippine Court Affirms Denial of Input VAT Refund for Non-Qualifying Zero-Rated Sales
- Philippines VAT on Freebies: Compliance Rules for Promo Sales, Deemed Sales, and Documentation
