Philippines: VAT guidance regarding export enterprises
Clarifications on transitory provisions and issues pertaining to VAT treatment of transactions by registered business enterprises
Issues pertaining to VAT treatment of transactions by registered business enterprises
The Bureau of Internal Revenue issued guidance to provide clarifications on the transitory provisions under Revenue Regulations No. 21-2021 and certain issues pertaining to the value added tax (VAT) treatment of transactions by registered business enterprises—particularly registered export enterprises.
The guidance in Revenue Memorandum Circular No. 24-2022 (09 March 2022) takes effect immediately.
Read a March 2022 report prepared by the KPMG member firm in the Philippines
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