The BIR said notable changes under these new revenue issuances compared to RMO No. 47-2020 include the substantial reduction of the number of documentary requirements from 30 to a minimum of 9 and maximum of 17, and the non-submission of soft copies of the scanned sales invoices or official receipts in support of both purchases and sales of goods or services.
Source: pna.gov.ph
Latest Posts in "Philippines"
- Philippines Announces VAT Exemption on Medicines to Lower Healthcare Costs and Improve Access
- Philippines Faces Potential Tariffs as Trump Targets Countries with Digital Taxes
- Philippines President Approves VAT Refund Program to Boost Tourism by 2024
- Philippine Court Clarifies Input VAT Refunds for Zero-Rated Sales in Outsourcing Services Case
- Philippine Court Denies VAT Refund for Singapore Firm Due to Insufficient Documentation