- World Bank recommends expanding VAT base and improving tax administration to increase revenue in the Philippines.
- World Bank suggests improving compliance, reducing exemptions, and special rates to increase VAT revenue.
- Minimal Government Thinkers proposes broadening VAT base by lowering the rate to 7-8% with no exemptions except raw agriculture and fishery products.
Source: bworldonline.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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 Faces Potential Tariffs as Trump Targets Countries with Digital Taxes
- Philippines Announces VAT Exemption on Medicines to Lower Healthcare Costs and Improve Access
