- BIR will automatically classify VAT refund claims with incomplete information as “high risk”
- Incomplete claims include those with no reference details or incomplete transaction details
- High risk claims require 100% verification of sales and purchases
- Risk classification process for VAT refund claims is based on a points system
- “High risk” claims include those filed by first-time claimants or with pending criminal cases
- Low risk claims are determined by the completeness of submitted documents
- Medium risk claims require 50% verification of sales amounts and total invoices/receipts
- Commissioner of Internal Revenue may determine other cases as high risk
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.
