- The Philippine Court of Tax Appeals issued a decision on VAT refunds for zero-rated sales of goods.
- A VAT-registered corporation sought a refund for sales to PEZA-registered entities, claiming they were zero-rated.
- The Commissioner of Internal Revenue argued that part of the claim was refundable but the over-claimed input VAT was not allowed.
- The Court denied the taxpayer’s appeal, noting the refund claim was timely but not fully substantiated.
- The taxpayer was not entitled to an additional refund as the approved amount covered the substantiated claim.
Source: news.bloombergtax.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.
