The Board of Investments (BoI) has updated its guidelines for granting value-added tax (VAT) zero-rating certifications for registered export enterprises (REEs) making local purchases.
Memorandum Circular (MC) No. 2023-007 governs the local purchases of goods and services directly and exclusively used in the registered project or activity. Eligibility for such a certification is good for 17 years from date of registration. The MC was signed on Oct. 17 and published on Oct. 24.
Source: www.bworldonline.com
