The resolution of the issue on value-added tax (VAT) zero-rating for local purchases made by exporters will be out before the end of April, Finance Secretary Benjamin E. Diokno said.
“With the recommendation of the Fiscal Incentives and Review Board (FIRB) technical working group, the Bureau of Internal Revenue (BIR) has drafted the necessary revenue regulations to clarify the coverage of the direct and exclusive use for purposes of VAT zero-rating. I have approved and signed the same. This is expected to be issued shortly within the month of April,” Mr. Diokno said in a Viber message.
Source: www.bworldonline.com
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