THE amendments to the National Internal Revenue Code of 1997 (Tax Code), introduced by Republic Act (RA) 11534 (Create) and by RA 10963, or the “Tax Reform for Acceleration and Inclusion” (Train), particularly on the imposition of value-added tax (VAT) on indirect exports and limiting the transactions subject to zero-rated VAT, have caused an uproar and much confusion in the business world.
Source: manilatimes.net
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