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Section 109 upon the production of for their own use and not for barter or
VAT-exempt evidence satisfactory to sale, accompanying such persons, or
transactions the Commissioner, that arriving within a reasonable time:
such persons are actually Provided, That the Bureau of
coming to settle in the Customs may, upon the production of
Philippines and that the satisfactory evidence that such
change of residence is persons are actually coming to settle
bona fide. in the Philippines and that the goods
are brought from their former place of
abode, exempt such goods from
payment of duties and taxes:
Section 109 (W) Sale or lease of goods (Z) Sale of gold to the BSP.
VAT-exempt or properties or the
Transactions performance of services (AA) Sale of drugs and medicines
other than the transactions prescribed for diabetes, high cholesterol,
specifically mentioned as and hypertension beginning January 1,
VAT-exempt, the gross 2019.
annual sales and/or
receipts do not exceed the Now (BB) Sale or lease of goods or
amount of P1,919,500.00 properties or the performance of services
(as amended). other than the transactions mentioned in the
preceding paragraphs, the gross annual
sales and/or receipts do not exceed the
amount of P3,000,000.
Section 110 The input tax on the Amortization of input VAT shall only
(A)(2)(b) purchase of capital be allowed until December 31, 2021.
Amortization of goods with a cost
Input VAT from exceeding After such date, taxpayers with
Purchases of P1,000,000.00 shall be unutilized input VAT on capital goods
Capital Goods amortized based on its purchased or imported shall be
useful life or 60 months, allowed to apply the same as
whichever is shorter. scheduled until fully utilized.
Additional provision:
Should the Commissioner find that the grant of
refund is not proper, the Commissioner must
state in writing the legal and factual basis for
denial.
Section 112 Failure on the part of The deemed denial of failure to act on the
Refunds or Tax the Commissioner to application is removed.
Credit of Input act on the application
VAT within the period Additional provision:
prescribed shall be
deemed a denial of Failure on the part of any official, agent,
the application. or employee of the BIR to act on the
application within the ninety (90) – day
period shall be punishable under Section
269 of the Tax Code (administrative fine
and imprisonment).
Section 114 (A) VAT taxpayers shall Beginning January 1, 2023, the filing
Return and file quarterly return and payment shall be done within 25
Payment of VAT within 25 days days following the close of each
following the close of taxable quarter.
each taxable quarter,
while payment of the
VAT shall be made on
a monthly basis upon
filing of monthly VAT
declaration.