- The Philippine Court of Tax Appeals issued a decision on input VAT refunds for zero-rated sales.
- A Swiss group’s VAT-registered regional headquarters requested a refund for unutilized input VAT for Q1 and Q2 of 2018.
- The Commissioner of Internal Revenue denied the request due to lack of substantiation.
- The taxpayer’s appeal to the Court of Tax Appeals, Special Third Division, was unsuccessful.
- The Court of Appeals, en banc, affirmed the decision.
- The taxpayer failed to prove the details of the offsetting arrangement with Swiss group affiliates.
- The Schedule of Offsetting of Receivables was not given probative value due to being in a different language.
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.
Latest Posts in "Philippines"
- The BIR suspends audits of books of accounts until further notice
- Philippine Senate Proposes Abolishing VAT and 3% Tax, Signaling Major Tax Reform
- Philippine Court Clarifies Input VAT Refunds for Zero-Rated Sales in Recent Decision
- Philippine Court Bars VAT Deficiency Collection Due to Expired Three-Year Prescriptive Period
- Philippine Court Clarifies Input VAT Refunds for Zero-Rated Sales in Multinational Branch Case
