- The Philippine Court of Tax Appeals clarified rules on unutilized input VAT refunds for zero-rated sales.
- A foreign corporation providing drilling services sought a refund for excess input VAT on zero-rated sales.
- The court ruled the taxpayer only needed to present specific DOE and Board of Investments certificates to qualify for zero-rating.
- The taxpayer met invoicing requirements and proved its services were related to renewable energy development.
- The court upheld the partial grant of the 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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