Revenue Regulations No. 3-2025 (RR No. 3-2025), issued by the Bureau of Internal Revenue (BIR) on January 16, 2025, provides the implementing rules and guidelines for Republic Act No. 12023, also known as the “VAT on Digital Services Act.” This regulation operationalizes the imposition of a 12% Value-Added Tax (VAT) on digital services in the …
Philippines- An Overview of VAT on Digital Services Read More »
31 March 2022 It seems the Philippine legislative and executive branches are on a roll in their mission to further attract foreign investments into the country to accelerate recovery of the economy which was drastically affected by the COVID19 pandemic. After the approval in December 2021 of Republic Act No. (“RA”) 11595 which simplified the …
01 February 2022 Republic Act No. 11595 (“RA 11595”), entitled “An Act Amending Republic Act No. 8762, otherwise known as the Retail Trade Liberalization Act of 2000 (RTLA), by lowering the paid-up capital requirement for foreign retail enterprises and other purposes” was signed into law by Philippine President Rodrigo Duterte on 10 December 2021. It …
RA 11595: FURTHER EASING THE WAY FOR FOREIGN RETAIL ENTERPRISES IN THE PHILIPPINES Read More »
