How to register for Making Tax Digital for VAT
Did you know the way you file your VAT Returns for your VAT-registered business enterprise has transformed? By regulation, you need to indication up to Creating Tax Electronic (MTD) and…
House panel OKs VAT for online goods, services
MANILA, Philippines — Netflix and Spotify subscribers as well as Amazon, Lazada and Shopee customers may soon have to pay more for these digital platforms’ products and services should the…
House panel OKs bill imposing VAT on digital transactions in PH
MANILA, Philippines — The substitute bill seeking to impose value-added tax (VAT) on digital transactions in the Philippines was approved Wednesday by the House committee on ways and means. During…
BIR to refund VAT on imported meds for diabetes, cholesterol, hypertension
Medicines for diabetes, high cholesterol and hypertension are exempt from value-added tax (VAT), so importations slapped with the 12-percent levy at the start of the year will be refunded, the…
Imported PPEs lose tax-free perk, but VAT refund claim deadlines extended
MANILA, Philippines — With the expiration of the Bayanihan to Heal as One Act, importation of personal protective equipment (PPEs) and other medical supplies lost its tax-exempt perk even as…
Thailand approves VAT for foreign digital platforms
BANGKOK — The Cabinet has approved a draft bill that will levy VAT on international digital platforms, expecting the measure to net additional annual revenue of Bt3 billion ($96 million).…
DOF drops proposal to suspend imposition of VAT on power use
MANILA, Philippines — The Department of Finance (DOF) has rejected a proposal to suspend the imposition of value-added tax (VAT) on power consumption as the country grapples with the COVID-19…
DOF thumbs down proposal to suspend imposition of VAT on power use
MANILA, Philippines — The Department of Finance (DOF) has rejected a proposal to suspend the imposition of value-added tax (VAT) on power consumption as the country grapples with the COVID-19…
DOF looks at digital services tax to capture unpaid VAT
Proposals to tax digital services to plug leaks in unpaid 12 percent VAT by some online businesses has caught the attention of the Department of Finance (DOF) which is now…
Higher Netflix bill? Indonesia to charge VAT on imported digital goods, services starting July
JAKARTA — Indonesia’s Finance Ministry will start charging 10 percent value-added tax (VAT) on imported digital goods and services, which includes video and music streaming subscriptions, starting from July 1…