Value Added Tax

Revenue Regulations No. 15-2023


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


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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