The Philippines Bureau of Internal Revenue (BIR) has issued Revenue Regulations No. 15-2021, which suspends the implementation of Revenue Regulations No. 9-2021 in relation to the imposition of 12% VAT on certain supplies to exporters that were previously zero-rated. As previously reported, the Department of Finance and the BIR agreed to suspend the implementation of Revenue Regulation 9-2021 in relation to imposing 12% VAT on certain supplies to exporters, including:
- Sale of raw materials …