The chairman of the House Ways and Means committee is proposing to amend the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law to address conflicting provisions regarding the value-added tax (VAT), among others.
“This reform aims to reconcile the disparities between the CREATE Act and its implementing rules and regulations, primarily on VAT-related transactions,” Albay Rep. Jose Ma. Clemente S. Salceda said in a Ways and Means hearing on Tuesday.
Source: www.bworldonline.com
Latest Posts in "Philippines"
- Senior Citizens Partylist Backs VAT Removal on Electricity for Filipino Households
- BIR Prohibits Lumping Low-Value Purchases for Philippine Input VAT Claims
- Economists Warn Scrapping VAT Could Trigger Fiscal and Economic Crisis
- Cavite Rep Files Bill to Abolish 12% VAT, Proposes Alternative Taxes
- Rep. Barzaga Files Bill to Abolish 12% VAT on All Goods and Services
