By: Recovering accumulated excess input value-added tax (VAT) has always put our VAT-registered taxpayers in a quandary on what is the best means to get back the excess tax payment when it amounts to ...

When have you made the right choice by deviating from a longstanding practice? This may be challenging but rewarding if guided by the right principles. Undeniably, this holds true in tax cases decided ...

For many years now, the right of taxpayers to claim for value added tax refund has been constrained and limited. The Court of Tax Appeals (CTA) has been consistent with its stand that in a claim for ...

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 ...

Potential fraud such as the “missing trader” scheme, identify-theft tax evasion or claiming input VAT for non-qualifying expenses are probed. To address economic pressures, the government is ...

THE Philippine Congress on May 24, 2005, enacted into law the Value Added Tax Reform Act otherwise known as Republic Act No. (RA) 9337, which eventually became effective on Nov. 1, 2005. The validity ...

The government is set to amend the implementing rules and regulations of the reformed value added tax law to ease the impact of the 70 percent cap on input VAT claims on companies’ bottom line.

As a way of curbing fraud, recovering revenue and increasing Value Added Tax (VAT) compliance, the Kenya Revenue Authority introduced a VAT Automated Audit module in iTax in October 2018. The module ...