- Oversight of VAT on sales to domestic market enterprises has shifted from the Bureau of Customs (BoC) to the Bureau of Internal Revenue (BIR).
- Such sales are now classified as “local sales” and fall under BIR jurisdiction.
- The change is based on Revenue Regulations No. 009-2025, implementing the CREATE MORE Act.
- The CREATE MORE Act, signed in 2024, reduced corporate income tax for Registered Business Enterprises (RBEs) from 25% to 20%.
- RBEs are entities registered with an Investment Promotion Agency and receive special tax incentives.
Source: bworldonline.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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