- VAT zero-rating on local purchases for exporters under CREATE MORE is performance-based, requiring at least 70% export sales annually to retain the incentive.
- Certification from the Export Marketing Bureau (EMB), not IPA registration, is now the key requirement for VAT zero-rating eligibility.
- Exporters must actively monitor export performance, link costs to export activities, align suppliers, and maintain audit readiness to sustain the incentive.
- VAT zero-rating is now available to export-oriented enterprises even if they are not IPA-registered or their incentive periods have lapsed.
- Continuous compliance and annual performance validation are essential, as failure to meet requirements results in loss of VAT zero-rating for the following year.
Source: bworldonline.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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