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Mar 31, 2017 · If the sale involves goods, properties or services some of which are subject to and some of which are zero-rated or exempt from VAT, the invoice or receipt shall clearly indicate the breakdown of the sales price between its taxable, exempt and zero-rated components, and the calculation of the VAT on each portion of the sale shall be shown on ...
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.
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.
Jun 29, 2021 · The Bureau of Internal Revenue (BIR) recently issued Revenue Regulations (RR) No. 9-2021 which imposed 12% Value-Added Tax (VAT) on certain transactions that were previously taxed at 0%. The RR took effect on June 27, 2021, 15 days from its publication.
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."
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.
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.
However, the value added tax system in the Philippines provides for the zero-rated sales of services. 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. On the part of the VAT-registered seller, it could make use of the 12% value added ...
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.
PEZA registered entities are automatic zero-rated sales, attriuting the same to the Cross Border Doctrine of the VAT System. This means that no VAT shall e imposed to form part of the cost of goods destined for consump-tion outside the territorial order of the taing authority. For the said automatic zero-rated sales, the Court of
