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Philippine Value Added Tax Overview by Boss Nik is a document available to read on EtoBox.

What is Philippine Value Added Tax Overview about?

This document summarizes key aspects of value added tax (VAT) in the Philippines, including: 1. VAT applies to persons and businesses with annual gross sales over PHP1,919,500 as well as importers of goods. Deemed sales include transfers for personal use and distributions to shareholders. 2. The VAT rate is 12% applied to the gross selling price of goods and services. For imports, the base is the dutiable value plus customs duties and taxes. 3. Transactions subject to the 12% VAT rate include the sale

Author

Boss Nik

Language

EN