This morning, Finance Minister Nguyen Van Thang, on behalf of the Prime Minister, presented to the National Assembly a draft proposal outlining four key amendments to the Law on Value Added Tax (VAT).

The CREATE MORE law has been in effect for approximately six months, and it has already drawn renewed attention from foreign investors. The incentive framework it introduced has encouraged ...

The Philippine Tax Whiz discusses the introduction of Output VAT Credit on Uncollected Receivables through Revenue Memorandum Circular 65-2024 of the Bureau of Internal Revenue. As a seller, who is ...

In case the seller avails of the output VAT credit on its uncollected receivables, Revenue Memorandum Circular (RMC) 65-2024 requires that the seller shall stamp “Claimed Output VAT Credit” on the ...

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 ...

A marketing company has won a €2.55 million VAT battle with the Revenue Commissioners. Revenue originally rejected the firm’s €2.55 million VAT repayment claims from 2016 to 2020. However, an appeal ...

“A gape” is an ancient Greek word usually defined as unconditional love, which is to give without expecting to receive anything in return. Despite having this world full of love, sometimes there are ...

The Finance Minister, Mr Ato Forson, last week Friday laid before Parliament The Budget Statement and Economic Policy for the 2026 Fiscal Year, themed “Resetting for Growth, Jobs and Economic ...

A marketing company engaged in building brands has won a €2.55m VAT battle with the Revenue Commissioners. The Revenue Commissioners rejected the firm's €2.55m VAT repayment claims from 2016 to 2020 ...