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Mar 22, 2022 · Sales declared by the taxpayers as zero-rated for the period of 1 July 2021 up to 9 December 2021 (before the effectivity of RR No. 21-2021) shall remain as zero-rated transactions applying the non-retroactivity rule under Section 246 of the Tax Code.
Under Section 108(B) of the National Internal Revenue Code, as amended, the following are value added tax (VAT) zero-rated sales of services in the Philippines by a VAT-registered person: Processing, manufacturing or repacking goods
This Tax Alert is issued to inform all concerned on the clarifications on the provisions of Revenue Regulations (RR) No. 3-2023 and certain issues and concerns pertaining to transactions with other entities granted with VAT zero-rate incentives on local purchases under special laws and international agreements.
Jul 27, 2020 · I have seen a number of BIR findings during tax assessments imposing 12% VAT on supposedly zero-rated sales of BPO and service exporters in Philippines for alleged failure to comply with VAT zero-rating rules under Section 108(B)(2) of the Tax Code, as amended.
Dec 14, 2021 · "Recently, the BIR issued RR 21-2021, clarifying transaction that are considered VAT zero-rated. Thus, pursuant to RR 21-2021, the following sales of goods or properties by VAT-registered persons shall be subject to zero-percent (0%) VAT."
Mar 21, 2022 · It now provides that the effective VAT zero-rating will only apply to the sale of goods and services rendered to persons or entities which have direct and indirect tax exemptions pursuant to special laws or international agreements to which the Philippines is a signatory.
However, the value added tax system in the Philippines provides for the zero-rated sales of goods or properties. Under zero-rated (0% VAT) sales rule, the seller does not impose the 12% value added tax in the Philippines to the buyer who is within the Philippines or abroad.
Jan 30, 2018 · Registered enterprises within tourism enterprise zones as declared by the Tourism Infrastructure and Enterprise Zone Authority (TIEZA) subject to the provisions of the Tourism Act of 209, are considered zero-rated sales and transactions, respectively.
Aug 15, 2023 · Without an approved Application for VAT Zero-Rate, the sale of goods and services entitled for VAT zero-rating purposes and consummated prior to the effectivity of RR 3-2023, even if the REE was duly endorsed by concerned IPA, shall be subject to 12% VAT.
Apr 22, 2022 · In effect, the sale of goods and services by a VAT-registered seller to registered enterprises in ecozones and freeport zones was treated as a constructive export subject to a VAT zero...
