Philippine Court Grants Partial VAT Refund for Importation of Exempt Prescription Drugs and Medicines

• The Philippine Court of Tax Appeals issued a decision on May 9 in CTA Case No. 10900
• The case involved a VAT-registered domestic corporation seeking a refund on erroneously paid VAT for imported prescription drugs and medicines
• The Commissioner of Internal Revenue denied the refund request due to lack of proper documentary evidence
• The taxpayer appealed, claiming it met all requirements for a refund
• The Court of Tax Appeals partially granted the appeal
• The court found the taxpayer was entitled to a refund because it filed claims on time and the imported items were VAT-exempt

Source: news.bloombergtax.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.