- The Bureau of Internal Revenue (BIR) is streamlining the VAT refund process to attract foreign investors.
- This reform is part of the CREATE MORE Act aimed at making the Philippines more business-friendly.
- BIR Commissioner Romeo Lumagui Jr. stated that the new rules align with President Marcos Jr.’s goals.
- The CREATE MORE Act amends the National Internal Revenue Code to provide tax relief and incentives.
- Revenue Memorandum Circular No. 37-2025 reduces documentary requirements for VAT refund claims.
- Certified true copies of invoices or receipts can replace original documents.
- Three documentary requirements have been reduced, including proofs of registration and import declarations.
- Prior certifications from the Bureau of Customs can be reused for certain claims.
- Exporters no longer need to submit actual proof of shipment for VAT refund claims starting April 1.
- The BIR will rely on a certification from the Export Marketing Bureau of the DTI.
- Coordination with the DTI aims to prevent duplication of requirements and streamline processes.
Source: pna.gov.ph
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.
