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What is VAT Exemption for PSALM Power Plant Sales about?

This document summarizes a court case regarding the validity of Revenue Regulations No. 2-2012 (RR 2-2012) which required payment of value-added tax (VAT) and excise tax on imports of petroleum products into free port zones in the Philippines. The court ruled RR 2-2012 to be invalid and unconstitutional for two reasons: 1) It illegally imposed taxes on free port enterprises which are granted tax-exempt status by law. 2) It effectively amended existing laws governing free port zones, which is a power reserve

Author

charmainejala

Language

EN