The Bureau of Internal Revenue (BIR) has issued a regulation clarifying the local purchases of registered business enterprises subject to the 12 percent value-added tax (VAT).
Under BIR Revenue Regulations 3-2023 signed by Finance Secretary Benjamin Diokno and BIR Commissioner Romeo Lumagui Jr., local purchases relating to janitorial services, security services, financial services, consultancy services as well as marketing and promotion are not covered by the zero-VAT rating.
Source: www.philstar.com
