Section 110(A) of the Tax Code, as amended, identifies the transactions creditable against output tax. Among the transactions are the purchase or importation of goods for sale, for conversion into or ...

While it has been two years since the enactment of Republic Act (RA) No. 10963, otherwise known as the Tax Reform for Acceleration and Inclusion (TRAIN) Act, we have not yet seen the last of the ...

Generally, it is only when a taxpayer is engaged in zero-rated sale that the input value-added tax attributable to such sale may be subject to a refund. This applies to input VAT (purchases) incurred ...

Many taxpayers have millions of pesos that are recorded in their books as unutilized input value-added tax or excess creditable withholding tax. Unfortunately, in many instances, they become paper ...