- The Philippine Court of Tax Appeals clarified rules on unutilized input VAT refunds for zero-rated sales.
- A Hong Kong multinational’s Philippine branch sought a refund for excess input VAT from 2016, linked to zero-rated sales to nonresident foreign corporations.
- The Commissioner of Internal Revenue denied the refund, citing timing and documentation issues.
- The court ruled the CIR’s petition was untimely, making the earlier partial refund final.
- The court found the taxpayer met all requirements, justifying the input VAT refund.
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.
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