[Ask the Tax Whiz] Understanding VAT zero-rate transactions for local REEs purchases and other entities
The Philippine Tax Whiz discusses the clarification from Revenue Memorandum Circular 80-2023 issued by the Commissioner of Internal Revenue on VAT zero-rated transactions and Revenue Regulations 3-2023 What is Revenue Regulations No. 3-2023 and when does it become effective? Revenue Regulations No. 3-2023 provides that local supplier of goods and/or services of registered export enterprises (REEs) …