- The Philippine Court of Tax Appeals clarified rules on input VAT refunds for zero-rated sales.
- A domestic corporation’s refund claim for unutilized input VAT on services to a related Bermudan corporation was denied by the BIR.
- The taxpayer argued that sales to a nonresident foreign corporation are zero-rated.
- The court found the official receipts lacked details on the nature of services, failing VAT invoicing requirements.
- The taxpayer’s petition for a refund was denied.
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.
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