5 Major Developments in the Philippines

5 Major Developments in the Philippines

• House Panel approves VAT Bills for digital transactions

• Temporary suspension of field audits and operations

• A closer look at the Bureau of Internal Revenue’s clarifications on Registered Export Enterprises’ VAT incentives

• Philippine Department of Finance Notes Recent Approval of Bill for VAT on Digital Transactions

• Finance Secretary Diokno defends 12% VAT on digital transaction

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Deduction (Input Tax Credit)

• Review of VAT refund scheme for PEZA firms backed

• Car accessories manufacturer loses P53M VAT refund claim

• Tax court grants P9.6-M refund to mining firm

E-Commerce/Electronic Services

• House Panel approves VAT Bills for digital transactions

• 12% VAT on foreign digital service providers

• Finance Secretary Diokno defends 12% VAT on digital transaction

• UPDATE: Philippines proposing to apply VAT on e-services from July 2023

• Philippines proposing to apply VAT on e-services from July 2023

• Philippines VAT on digital services non-residents – July 2023

• Tax Agency Announces Lower House Approval of Bills on VAT, Digital Transactions, Other Areas

• Philippines House of Representatives Approves VAT on Non-Resident Digital Service Providers

• House OKs bill imposing tax on digital transactions

• House OK’s tax on foreign digital services, removal of tax exemption on pickups

• Philippines: House Panel Approves House Bill No. 372 – An Act imposing VAT on non-resident digital service providers

• House passes bill imposing VAT on digital transactions on second reading

• House Panel Approves House Bill No. 372 – An Act imposing VAT on non-resident digital service providers

• Imposing VAT on digital goods

• Philippines Published the Implementation Timeline of E-Invoice/Receipt

E-Invoicing

• A Step Towards the Mandatory Electronic Invoice

• Philippines EIS VAT e-invoicing launched (partial launch 1 July, full 2023)

• A Step Towards the Mandatory Electronic Invoice

Environmental Tax

• Proposed tax on digital services, plastic may be passed on to customers

• House OK’s tax on foreign digital services, removal of tax exemption on pickups

Exemption

• House asked to begin hearings on anti-VAT bills (to remove VAT on utilities)

• P187 billion revenue losses seen if utilities VAT removed

• Salceda: Marcos wants House to study removing VAT on utilities

• Makabayan seeks VAT exemption of electricity, water, toll services

• House OK’s tax on foreign digital services, removal of tax exemption on pickups

• House bill seeks VAT exemption for basic goods

Export

• A closer look at the Bureau of Internal Revenue’s clarifications on Registered Export Enterprises’ VAT incentives
• Review of VAT refund scheme for PEZA firms backed

• Exporters seek removal of 12% VAT on products

Invoice

• Tax court grants P9.6-M refund to mining firm

Rate

• Tax Agency Clarifies VAT Zero-Rated Incentives

• Court of Tax Appeals affirms partial refund of Toyota’s customs duties and excess VAT

• Review of VAT refund scheme for PEZA firms backed

• House asked to begin hearings on anti-VAT bills (to remove VAT on utilities)
• P187 billion revenue losses seen if utilities VAT removed
• Salceda: Marcos wants House to study removing VAT on utilities
• Makabayan seeks VAT exemption of electricity, water, toll services
• Exporters seek removal of 12% VAT on products
• House bill seeks VAT exemption for basic goods

Refund

• Review of VAT refund scheme for PEZA firms backed
• Tax court grants P9.6-M refund to mining firm

Reporting/Compliance

• Car accessories manufacturer loses P53M VAT refund claim

• Guidance on electronic filing email notification

Tax Authorities/Penalties

• Temporary suspension of field audits and operations

• Scrapping VAT on basic goods

Taxable Transaction

• Philippine Department of Finance Notes Recent Approval of Bill for VAT on Digital Transactions

• Scrapping VAT on basic goods

• VAT exemption for key commodities seen as negative for peso