The Philippine News Agency has issued a release announcing that the Department of Finance (DOF) and Bureau of Internal Revenue (BIR) have agreed to suspend the implementation of Revenue Regulation (RR) 9-2021 in relation to imposing 12% VAT on certain supplies to exporters that were previously zero-rated. RR No. 9-2021 was issued in June with effect from 27 June 2021. The DOF will reportedly issue its formal final decision by the end of July.
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DOF to withdraw regulation imposing 12% VA…