The Bureau of Internal Revenue (BIR) issued two guidance documents—Revenue Memorandum Circular (RMC) No. 71-2023 and Revenue Memorandum Order (RMO) No. 23-2023—that introduced significant changes in the document requirements and procedures for value added tax (VAT) refund claim applications.
The refined VAT refund guidelines apply to claims filed starting 1 July 2023.
Source: KPMG
Latest Posts in "Philippines"
- AstraZeneca Secures ₱37M VAT Refund from BIR for Exempted Medicine Imports
- Philippine Court Grants Partial VAT Refund to AstraZeneca Subsidiary for 2020 Drug Imports
- Philippines Launches VAT Portal for Non-Resident Digital Service Providers to Enhance Compliance
- Philippines Announces VAT Exemption on Medicines to Lower Healthcare Costs and Improve Access
- Philippines Faces Potential Tariffs as Trump Targets Countries with Digital Taxes