5 Major Developments in Philippines

5 Major Developments in Philippines

• What is the letter of Authority? – BIR Audit process
• FIRB moves to Resolve VAT Issue
• Gatchalian Files VAT Refund Bill: It’s Time to Incentivize Foreign Tourists
• Filipino Exporters Urge VAT Policy Breakthrough Before April
• Philippines Challenging Massive VAT Fraud Involving Fake Receipts

Customs

• ATA Carnet system in the Philippines

• Tobacco, food, pharma firms top Customs taxpayers in 2022

Deduction (Input Tax Credit)

• Clarification of Effects of Publishing List of Taxpayers who cannot be Located

Digital Services Tax

• The uncharted waters of taxing digital services

E-Commerce / Electronic Services

• Draft legislation to impose VAT on digital services

• The uncharted waters of taxing digital services

• New bill seeks to impose VAT on digital transactions

• Philippines Proposes the Introduction of VAT Obligations for Foreign Digital Service Providers

E-Invoicing

• SNI Webinar: How business can drive successful e-Invoice transformation in the Philippines? (Feb 1, 2023)

• SNI Webinar: How business can drive successful e-Invoice transformation in the Philippines? (Feb 1, 2023)

Exemption

• BIR implements grant of 10% discount and VAT exemption to Solo Parents

• Solo Parents to Get 10% Off, No VAT on Products for Kids

• Exporters seek Exemption from 12% Tax on Purchases

• House panel to resolve VAT issue of indirect exporters

• A Guide to Taxation in the Philippines

Export

• Major Export Industries Await Govt’s VAT-Zero Rating Resolution

• Exporters seek Exemption from 12% Tax on Purchases

• FIRB moves to Resolve VAT Issue

• BIR says VAT refund for foreign tourists should be limited to goods

• House panel to resolve VAT issue of indirect exporters

• Submission of inventory list and application of VAT to HMO plans of registered export enterprises

• BIR clarifies new revised VAT rules for REEs under CREATE Law

Fraud / Tax Evasion

• Philippines Challenging Massive VAT Fraud Involving Fake Receipts

Importation

• House panel to resolve VAT issue of indirect exporters

Invoice

• A Guide on How to Fill Out an Official Receipt and Sales Invoice – Philippines

Place of Supply

• BIR says VAT refund for foreign tourists should be limited to goods

Rate

• BIR firms up definition of ecozone logistics providers eligible for zero VAT

• Major Export Industries Await Govt’s VAT-Zero Rating Resolution

• Top exporters urge resolution on VAT zero-rating for their purchases

• FIRB moves to Resolve VAT Issue

• VAT zero-rating application never goes out of style

• Government issued Circular for zero-rated VAT incentives

• BIR clarifies new revised VAT rules for REEs under CREATE Law

Refund

• House panel approves bill mandating higher VAT refund for foreign tourists

• House panel approves flexible ODA funding, tourist VAT refund bills

• VAT Refund System For Tourists Gets House Panel Nod

• House Bill Granting VAT Refund to Tourists Approved on Second Reading

• Bill on VAT refund for tourists approved on 2nd reading

• Proposed VAT Refund Program for Foreign Tourists OK’d on 3rd Reading

• Bill Granting VAT Refund to Foreign Tourists Okayed

• Filipino Lawmakers Sign Off On VAT Refunds For Tourists

• Filipino Exporters Urge VAT Policy Breakthrough Before April

• Gatchalian Files VAT Refund Bill: It’s Time to Incentivize Foreign Tourists

• VAT Refund Facility Starting in 2024, Philippines Prepares New Law

• Gatchalian: VAT refund scheme for foreign tourists will revitalize PH tourism

• VAT refund for foreign tourists should be limited to goods – BIR

• Proposed VAT refund for tourists seen to increase shopping by 29%

• BIR says VAT refund for foreign tourists should be limited to goods

• House group formed to draft proposed VAT refund program for foreigners

• BIR says VAT refund for foreign tourists should be limited to goods
• House panel to resolve VAT issue of indirect exporters

• Senators want experts’ views on VAT refund for foreign tourists

• VAT refund for foreign tourists by 2024 – administrative costs – unfair to Filipinos

• VAT refund for tourists

Reporting / Compliance

• BIR Priority Programs and Projects

• Philippines Changes VAT Return Filing Frequency

• A closer look at quarterly VAT filing

• Guidelines issued on the online registration of books of accounts

• Philippines Implements Quarterly VAT Return Filing from 2023

• Submission of inventory list and application of VAT to HMO plans of registered export enterprises

• Philippines Introduces VAT Waiver For Single Parents

• Monthly VAT declaration no longer required

• Philippines Explains Transition To Quarterly VAT Filing

• BIR simplifies filing of VAT returns

• Guidance on Return Processing System Assessment Notices

Tax Authorities / Penalties

• What is the letter of Authority? – BIR Audit process

• BIR says VAT refund for foreign tourists should be limited to goods

Taxable Transaction

• Are all Incidental Transactions Subject to VAT?

Territory

• Filipino Lawmakers Seek Review Of VAT Rules For Freezone Supplies