The Bureau of Internal Revenue (BIR) has reduced the requirements that taxpayers need to comply with in order to get their value added tax (VAT) refund.
BIR commissioner Romeo Lumagui recently issued a revenue memorandum circular and revenue memorandum order that would streamline the documentary requirements and procedures in the filing and processing of VAT refund claims.
Source: www.philstar.com
Latest Posts in "Philippines"
- Senators Propose Automatic Suspension of Fuel Taxes Amid Middle East Crisis and Rising Oil Prices
- Philippine Court Clarifies VAT Refund Rules for Zero-Rated Sales and Documentation Requirements
- Philippines Tax Court Clarifies Rules on Validity of VAT Deficiency Assessments in Recent Decision
- FDA Releases Updated List of 69 VAT-Exempt Medicines Covering Major Diseases
- Accumulated Input VAT: The Dilemma of Domestic Market Enterprises Under the CREATE MORE Act
