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Value Added Tax

Revenue Regulations No. 2-2025

2026-06-15T10:12:05+08:00

This Revenue Regulation is issued on January 8, 2025 implements the tax provisions of RA No. 9267, otherwise known as "The Securitization Act of 2004." The sale or transfer of assets to the Special Purpose Entity (SPE), including sale or transfer of any and all security interest thereto, made in accordance with the Securitization Plan shall be exempted from Value-Added Tax (VAT) and Documentary Stamp Tax (DST) or any other taxes imposed in lieu thereof. Moreover, pursuant to Section 28 of RA No. 9267, the transfer of assets by dation in payment (dacion en pago) by the obligor in favor of [...]

Revenue Regulations No. 2-20252026-06-15T10:12:05+08:00

Revenue Regulations No. 7-2024

2024-04-18T19:17:24+08:00

This Revenue Regulation implements Section 113, 235, 236,237,238,242,243 of the Tax Code of 1997, as amended by Republic Act (RA) No. 11976 (Ease of Paying Taxes Act), on the registration procedures and invoicing requirements. The following registration procedures and invoicing requirements are specified in the Regulations: A. Invoicing and Accounting Requirements for Value-Added Tax (VAT) Registered Persons under Section 113 of the Tax Code Invoicing Requirements Information Contained in a VAT Invoice Accounting Requirements Consequence of Issuing Erroneous VAT Invoice B. Preservation of Books of Accounts and Other Accounting Records under Section 235 of the Tax Code Preservation Examination and Inspection [...]

Revenue Regulations No. 7-20242024-04-18T19:17:24+08:00

Revenue Regulations No. 3-2024

2024-04-17T14:03:32+08:00

This Revenue Regulation implements the amendments introduced by RA No. 11976 (Ease of Paying Taxes[EOPT] Act), on the relevant provisions of Title IV - Value-Added tax and Title V - Percentage Tax of the Tax Code of 1997, as amended. Under the Regulations, all references to "gross selling price", "gross value in money", and "gross receipts" shall now be referred to as the "GROSS SALES", regardless of whether the sale is for goods under Section 106, or for services under Section 108 of the Tax Code. The term "Invoice" will also now be used instead of Sales/Commetccial Invoices or Official Receipts. [...]

Revenue Regulations No. 3-20242024-04-17T14:03:32+08:00

Revenue Regulations No. 15-2023

2023-12-27T17:41:05+08:00

Implements the grant of Donor's Tax exemption on the donation of imported capital equipment, raw materials, spare parts, or accessories directly and exclusively used in the registered project or activity by Registered Business Enterprises (RBEs) of any existing Investment Promotion Agencies (IPAs) under Section 295 (C)(2)(e) of the Tax Code of 1997, as amended. The donation of capital equipment, raw materials, spare parts, or accessories, which were granted tax and customs duty exemption to the Technical Education and Skills Development Authority (TESDA), State Universities, and Colleges (SUCs), or Department of Education (DepEd) and Commission on Higher Education (CHED) - accredited schools [...]

Revenue Regulations No. 15-20232023-12-27T17:41:05+08:00

Revenue Memorandum Circular No. 71-2023

2023-07-12T12:30:59+08:00

Revenue Memorandum Circular No. 71-2023, provides uniform guidelines and prescribes the revised mandatory documentary requirements in the processing and grant of Value-Added-Tax (VAT) credit/refund claims under Section 112 of the Tax Code of 1997, as amended, in line with the latest developments on VAT introduced by Republic Act (R.A.) No. 10963 (TRAIN Law) and R.A. No. 11534 (CREATE Act), except those under the authority and jurisdiction of the Legal Group. The Circular shall take effect for VAT refund/credit claims that will be filed starting July 1, 2023.  The time frame to process and grant claims for VAT refund is ninety (90) [...]

Revenue Memorandum Circular No. 71-20232023-07-12T12:30:59+08:00
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