The worry that the Philippine BPO industry will lose its competitiveness due to the proposed tax reform has no foundation. Certain enterprise stakeholders are probably misinterpreting the provisions of the bill. There is not any change in tax policy here for exporters,” he stated.
Chua defined that receipts from domestic offerings are already concern to twelve percent VAT, and could stay so with the proposed tax reform.
“This has already been the case even earlier than we proposed the Train invoice,” he talked about.
The DoF legit explained that receipts from foreign offerings in the SEZs of the Philippine Economic Zone Authority (PEZA) will stay VAT-exempt, as is the case now, due to the fact they're outside customs territory through legal fiction, or zero-rated if the exporters are outside the unique economic sector, along with the ones which might be Board of Investments-registered.
Chua defined that receipts from domestic offerings are already concern to twelve percent VAT, and could stay so with the proposed tax reform.
“This has already been the case even earlier than we proposed the Train invoice,” he talked about.
The DoF legit explained that receipts from foreign offerings in the SEZs of the Philippine Economic Zone Authority (PEZA) will stay VAT-exempt, as is the case now, due to the fact they're outside customs territory through legal fiction, or zero-rated if the exporters are outside the unique economic sector, along with the ones which might be Board of Investments-registered.
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