For many years now, the right of taxpayers to claim for value added tax refund has been constrained and limited. The Court of Tax Appeals (CTA) has been consistent with its stand that in a claim for ...

In order to be eligible for output VAT credit, the EOPT law and the implementing regulations require compliance with certain requisites, among which are as follows: the output VAT credit can be made ...

Section 110(A) of the Tax Code, as amended, identifies the transactions creditable against output tax. Among the transactions are the purchase or importation of goods for sale, for conversion into or ...

Potential fraud such as the “missing trader” scheme, identify-theft tax evasion or claiming input VAT for non-qualifying expenses are probed. To address economic pressures, the government is ...

From confusion over which goods and services are VAT-exempt and zero-rated, to wrongly reclaiming the tax on feed and vet fees for a child’s pet pony, often it is the same errors that trip up farmers.

Upon the effectivity of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act on April 11, 2021, a new requirement to support the VAT zero-rating of local purchases of registered ...

Because transport forms a part of many business activities, much confusion can arise when calculating tax for a transaction that includes transport along with the sale of goods or provision of ...