A salient feature of the VAT system is its ability and promptness in making refunds as and when due. Refund here does not necessarily mean direct cash payment as further explained in paragraph 4 below ...

In Philippine tax law, rules on refunds and exemptions are notoriously strict, rooted in the long-standing principle that taxes are the lifeblood of the nation and that any claim diminishing ...

The government has proposed an 8 percent reduction on input value-added tax (VAT) for agricultural exporters, cutting the rate from the current 16 percent, in a move aimed at easing costs in the ...