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"
- 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
- Philippine Court Denies VAT Refund for Swiss Company’s Regional Headquarters Due to Insufficient Evidence
