The Bureau of Internal Revenue (BIR) said economic zone (ecozone) developers and operators are eligible for value-added tax (VAT) zero rating subject to a number of eligibility conditions.
In a memorandum circular, the BIR said that the developers and operators of economic zones and industrial parks and buildings housing export enterprises qualify for VAT zero-rating if they pass the 70% threshold for leasable or saleable area dedicated to exporters.
Source: www.bworldonline.com
Latest Posts in "Philippines"
- BIR Falls Short of VAT Collection Target by P6.37 Billion in First Seven Months
- Philippine Court Clarifies Input VAT Refunds for Zero-Rated Sales in Electricity Sector Case
- Philippine Court Clarifies Input VAT Refunds for Zero-Rated Sales in Automotive Export Case
- Philippine Court Clarifies Input VAT Refunds for Zero-Rated Sales to PEZA Entities
- Philippines Maintains Digital VAT Despite Trump’s Tariff Threats on American Tech Giants
