- The Philippine Supreme Court posted a decision online regarding unutilized input VAT refunds for entities registered with PEZA.
- A registered export enterprise with PEZA requested a refund for unutilized input VAT from zero-rated sales.
- The Court of Tax Appeals denied the claim, stating the taxpayer was VAT-exempt and not eligible for a refund.
- The Supreme Court reversed the CTA’s decision.
- The Supreme Court found the CTA erred in treating the taxpayer as entirely VAT-exempt.
- The taxpayer was entitled to a reduced refund for unutilized input VAT from zero-rated sales.
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.
