China's new instant VAT refund system enables foreign tourists to receive instant tax rebates at the point of purchase.

The Bureau of Internal Revenue saw its tax collection rise to P669 billion in the first quarter on the back of improved value ...

One significant addition recently introduced in our tax laws is Republic Act (RA) 12079, which provides Value-added tax (VAT) ...

The government should also consider “progressive measures” that will make the country’s wealthiest pay their fair share to increase its revenue collection, according to Ibon Foundation. In a ...

MANILA, Philippines - For taxation purposes, properties held by taxpayers are generally classified into Capital Assets and ...

An uneven playing field is said to be hurting traditional sellers. The Philippine Retailers Association (PRA) wants the ...

Luckily for foreign tourists in the Philippines, they will now be able to get a refund on the 12% value-added tax (VAT) they pay on certain purchases. Signed into law in December 2024, the Republic ...

The Bureau of Internal Revenue  has issued the updated list of value-added tax -exempt medicines for various diseases such as ...

THE Bureau of Internal Revenue (BIR) said it collected P643.85 billion in value-added tax (VAT) revenue last year, up 35.48%. VAT is a 12% levy on the sale, barter, exchange or lease of goods or ...

VAT is now being added to private school fees after new rules came into force on 1 January. The government plans to spend the money raised on more teachers for state schools in England. But a ...

“It’s so sad to see. It’s so pathetic.” The VAT system is used to tax the consumption of goods and services in more than 170 countries, making the United States an outlier for not having on ...