- The BIR has exempted indigenous natural gas and related power generation transactions from VAT.
- The exemption is part of new regulations under the Philippine Natural Gas Industry Development Act (RA 12120).
- The VAT exemption applies to suppliers, aggregators, and power plants certified by the Department of Energy (DOE).
- Only the portion of blended gas derived from indigenous sources qualifies for the exemption.
- Participants must secure DOE endorsements and certifications to avail of the tax break.
Source: abs-cbn.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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