VAT Exemption

Revenue Regulations No. 1-2024


This Revenue Regulation further amends Section 2, Sub-section 4.109-1(B)(p) of Revenue Regulations (RR) No. 4-2021, as amended by RR No. 8- 2021, to implement the adjustment of the selling price threshold of the sale of house and lot, and other residential dwellings for Value-Added Tax (VAT) exemption purposes. Taken into account the Consumer Price Index (CPI) values for 2023 as published by the Philippine Statistics Authority (PSA), the new price threshold, for sale of house and lot and other residential dwellings for VAT-exemption purposes, rounded up is Three Million Six Hundred Thousand Pesos (Php 3,600,000.00) from the current threshold amount of [...]

Revenue Regulations No. 1-20242024-02-12T12:15:21+08:00

Revenue Memorandum Circular No. 91-2023


All registered export and domestic enterprises that will continue to avail of their existing tax incentives subject to Sections 1,2 and 3 of this Rule, may continue to enjoy the duty exemption, VAT exemption on importation, and VAT zero-rating on local purchases as provided in their respective IPA registrations; Provided, that registered export enterprises as defined under section 293(E) of the Act whose income Tax-Based incentives have expired, may continue to enjoy VAT zero-rating on local purchases until electronic sales reporting system of the bureau of internal revenue under Section 237-A of the Act is fully operational, or until the expiration [...]

Revenue Memorandum Circular No. 91-20232023-09-13T17:20:53+08:00
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