- Tax Alert issued to inform about implementing rules for amendments on VAT and percentage tax under EOPT Act
- General amendments include changes in terminology for gross sales, invoices, billings, VAT-exempt threshold, and filing/payment methods
- Specific amendments to RR 16-2005 regarding transitory provisions for sale of services and goods
- Regulations to take effect 15 days after publication in Official Gazette or BIR website
Source: grantthornton.com.ph
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.
