With the recent issuance of the Corporate Recovery and Tax Incentives for Enterprises (Create) Act’s Implementing Rules and Regulations (IRR), there seems to be a lot of confusion on how to treat purchases of goods and services by Registered Business Enterprises (RBEs) – whether these should be subject to value-added tax (VAT) at 12 percent or VAT at zero-rate.
Source: manilatimes.net
