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BIR Makes VAT Refunds Easier

In the Philippines, a sales tax known as value-added tax (VAT) is levied on commodities purchased, bartered, exchanged, or leased and imported products. The Bureau of Internal Revenue (BIR) has reduced the standards taxpayers must meet to receive a VAT refund. In a revenue memorandum circular, BIR commissioner Romeo Lumagui ordered simplifying documentation requirements and […]