Can I read VAT Guidelines for Capital Goods Over 1M on EtoBox?

VAT Guidelines for Capital Goods Over 1M by Shiela Marie Maraon is a document available to read on EtoBox.

What is VAT Guidelines for Capital Goods Over 1M about?

This document is a Revenue Memorandum Circular from the Bureau of Internal Revenue regarding claiming input VAT on purchases or importations of capital goods. It summarizes amendments to Section 110 of the Tax Code that allow input VAT on capital goods exceeding 1 million pesos to be claimed in full in the month of acquisition rather than being spread over 59 months. It provides guidelines for taxpayers to follow in reporting input VAT on capital goods on their VAT returns by indicating a useful life of 1 m

Author

Shiela Marie Maraon

Language

EN