- Revenue Regulations No. 002-2026 provides guidance on VAT exemption under the Natural Gas Industry Development Act, effective 1 April 2026.
- VAT exemption applies to the purchase and sale of indigenous natural gas, aggregated gas (limited to indigenous content), and electricity generated from these gases.
- Eligible entities include aggregators, resellers, suppliers, authorized operators, and end users, provided they meet specific criteria and are certified by the Department of Energy.
- Taxpayers must indicate the legal basis for exemption in their VAT return and attach required DOE endorsements and certifications.
- Entities already claiming incentives under Title XIII of the Tax Code cannot claim similar incentives under RA No. 12120 or other special laws.
Source: taxathand.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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