The chairman of the House Ways and Means committee is proposing to amend the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law to address conflicting provisions regarding the value-added tax (VAT), among others.
“This reform aims to reconcile the disparities between the CREATE Act and its implementing rules and regulations, primarily on VAT-related transactions,” Albay Rep. Jose Ma. Clemente S. Salceda said in a Ways and Means hearing on Tuesday.
Source: www.bworldonline.com
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