When a local government enters into a service contract without knowing that the service is exempt from value-added tax (VAT) and determines and pays the service fee including VAT, the Supreme Court ...
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 ...
SECTION 112 of the Tax Code (Republic Act [RA] 8424, as amended) states that a taxpayer may claim for refund or request for issuance of tax credit certificate for its excess unutilized input ...
Every P10 increase in fuel prices hands the government billions in unplanned VAT revenue. As global crude prices surge amid ...
The government is set to amend the implementing rules and regulations of the reformed value added tax law to ease the impact of the 70 percent cap on input VAT claims on companies’ bottom line.
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