- PEZA companies are not fully exempt from VAT on goods and services consumed outside the ecozone but within the Philippines
- Supreme Court partially granted Coral Bay Nickel Corporation’s VAT refund claim
- Coral Bay sought a refund for unutilized input VAT on purchases used beyond the ecozone
- Court of Tax Appeals initially granted a partial refund but later reversed the decision
- Supreme Court ruled that PEZA companies are only zero-rated for VAT if goods or services are consumed within the ecozone
- Goods consumed outside the ecozone are subject to VAT under the destination principle
- Coral Bay entitled to a refund for VAT on goods consumed outside the ecozone
Source: tribune.net.ph
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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