- BIR collected P2.8 billion from VAT on digital services in two months.
- B2C transactions contributed P1.65 billion, with P1.28 billion received.
- B2B transactions added P1.14 billion, mainly through reverse charge VAT.
- 371 non-resident digital service providers registered by September 9.
- The VAT portal launched on July 30 for easier compliance.
Source: manilatimes.net
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.
Latest Posts in "Philippines"
- VAT Reduction to 10% Risks Fiscal Deficit, Benefits Wealthy, Warns Philippine Finance Department
- BIR Falls Short of VAT Collection Target by P6.37 Billion in First Seven Months
- Philippine Court Clarifies Input VAT Refunds for Zero-Rated Sales in Electricity Sector Case
- Philippine Court Clarifies Input VAT Refunds for Zero-Rated Sales in Automotive Export Case
- Philippine Court Clarifies Input VAT Refunds for Zero-Rated Sales to PEZA Entities
