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The need to review the rules on VAT zero rating
By Euney Marie Mata-Perez on August 24, 2023
THE amendments to the National Internal Revenue Code of 1997 (Tax Code), introduced by Republic Act (RA) 11534 (Create) and by RA 10963, or the “Tax Reform for Acceleration and Inclusion” (Train), particularly on the imposition of value-added...
Improving board diversity in the Philippines
By: Atty. Euney Marie Mata-Perez on August 17,2023
IMPROVING board diversity is increasingly seen as contributing to good corporate governance, and its promotion has attracted good governance advocates as well as regulators. There had been studies that suggested that corporate boards structured...
Fighting corruption in the Philippines
By Euney Marie Mata-Perez on August 3,2023.
I WAS invited by the Tax Accountancy Association Union of Chinese Taipei (Taauct) to speak during its Corporate Integrity and Sustainable Development Asia Regional Seminar recently held in Taiwan. Deputy ministers from the Ministry of Finance and Ministry...
MTF Managing Partner Euney Mata-Perez will moderate this session on Emerging Economies and Tax Issues in this 2023 International Tax Conference organized by the Asian Consulting Group.
Introducing our esteemed presenters at the 2023 International Tax Conference Engage as they bring a wealth of...
Claim for refund of unutilized input VAT
By: Atty. Aziza Hannah Bacay on May 25,2023
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 value-added tax (VAT).
In computing VAT, the input tax (the...
Are business taxes deemed to be business permit fees?
By: Atty. Jan Ethan Gordola on May 11,2023
IN the recent decision of Bases Conversion and Development Authority and John Hay Management Corp. v City Government of Baguio City (BCDA v Baguio Case, GR 192694. Feb. 22, 2023), the Supreme Court stated that “[t]he payment of fees for the issuance...
Proving that services were rendered in the Philippines for VAT zero-rating purposes
By Gladys Jane Dela Cruz on May 4,2023
IN last week’s article, we discussed that to qualify for value-added tax (VAT) zero-rating under Section 108(B)(2) of the National Internal Revenue Code, the following elements must be present: (1) the recipient of the services is a foreign corporation...
Proving the nonresident status of service recipients for VAT zero-rating
By: Atty. Keanu P. Castañeda on April 27,2023
SERVICES rendered to a person engaged in business conducted outside the Philippines or to a nonresident person not engaged in business who is outside the Philippines may be subject to zero percent value-added tax (VAT), provided that the consideration...