Blog Posts on vat

Aquino administration allocate P9 billion for new VAT refund scheme by PNoy News & Philippines Latest News Update on Apr 7, 2012The 2012 national budget allocates P9 billion for the first-year implementation of the new value-added tax (VAT) refund scheme that was recently approved by President Benigno S. Aquino III through Executive Order (EO) No. 68. Budget and Managem...

Executive Order No. 68 - Monetization of VAT TCCs by PNoy News & Philippines Latest News Update on Apr 2, 2012MALACAÑAN PALACE MANILA BY THE PRESIDENT OF THE PHILIPPINES EXECUTIVE ORDER NO. 68 MONETIZATION PROGRAM OF OUTSTANDING VALUE-ADDED TAX (VAT) TAX CREDIT CERTIFICATES (TCCs) WHEREAS, Section 112 (A) of Republic Act (RA) No. 8424, otherwise k...

[Press Release] Labor party calls for removal of VAT on oil to reduce prices -PM by hronlineph.com on Mar 17, 2012Labor party calls for removal of VAT on oil to reduce prices One day after the transport protest against the unabated increases in oil prices, the Partido ng Manggagawa (PM) called on the administration of President Benigno Aquino III to remove the V...

A Hopeful Recto: “Reduce the VAT to 10%” by So, to Speak … on Mar 14, 2012Senator Ralph Recto is the proponent of the 12% Expanded Value Added Tax bill, which has become a law some eight years ago that until now, Filipinos are dead suffering the consequence of the anti-poor legislation. But lo and behold! This Senator (Sin...

A Hopeful Recto: “Reduce the VAT to 10%” by So, to Speak … on Mar 14, 2012Senator Ralph Recto is the proponent of the 12% Expanded Value Added Tax bill, which has become a law some eight years ago that until now, Filipinos are dead suffering the consequence of the anti-poor legislation. But lo and behold! This Senator (Sin...

Should vat-exempt sales/receipts must be declared in the VAT return? by TaxAcctgCenter on Mar 1, 2012Our core activities is mainly life insurances. We are an income tax exempt entity. However, we pay vat due to some of our business like rentals, etc. My question is, are we required to declared the vat-exempt receipts from insurances premiums and col...

Change of Tax Registration from VAT to NON-VAT by TaxAcctgCenter on Feb 28, 2012I would like to ask your thoughts regarding my CALL CENTER/BPO fifteen (15) seater business. I classify this as a small business since i am only renting a 30sqm office in Mandaluyong, hired less than 10 call center agents and I am currently not earni...

vat-exempt company with a vatable transactions by TaxAcctgCenter on Feb 27, 2012Greetings! The company is vat-exempt. However, we have some other business that is subject to VAT. I notice that some expenses that are related to the main business of the company (which is vat exempt) have an accounting entry for prepaid input tax.

internet taxation by TaxAcctgCenter on Feb 24, 2012I just want to clarify about taxation doing business online. for example: you want to become a software reseller here in the philippines, and you will buy the softwares you want to resell on line outside the philippines but in electronic form, since...

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