- Senator filed resolution to investigate delays in VAT refunds after complaints by foreign companies
- Resolution seeks to make it easier for companies to apply for refunds
- Japanese companies threatened to leave Philippines due to difficulty in securing timely VAT refunds
- American Chamber of Commerce of the Philippines said VAT refunds for jet fuel take up to five years to resolve
- Dole Sunshine Co. Philippines has not received a VAT refund amounting to $67 million
- Japanese Chamber of Commerce and Industry of the Philippines President pushed for more tax incentives to attract Japanese companies
- House of Representatives passed amendments to revive post-pandemic economy through tax incentives, including cutting corporate income tax to 20%
Source: bworldonline.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
