By Ben O. de Vera, 30 Jul 2021
The Bureau of Internal Revenue (BIR) has suspended the implementation of a regulation that slapped a 12-percent value-added tax (VAT) on some previously zero-rated transactions of exporters.
Revenue Regulations No. 15-2021, dated July 21 but signed by Finance Secretary Carlos Dominguez III and Internal Revenue Commissioner Caesar Dulay on July 27, deferred the implementation of RR 9-2021 issued last month “until the issuance of an amendatory revenue regulations.”
RR 15-2021 was released to stakeholders on Wednesday, a Department of Finance (DOF) official said.
RR 9-2021 charged exporters operating in economic zones with VAT for their local purchases, prompting them to seek a repeal of the regulation.
The earlier Tax Reform for Acceleration and Inclusion Act implemented in 2018 was the basis of RR 9-2021.
But the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act signed by President Duterte in March exempted exporters from this levy.
The DOF had said that the forthcoming regulations to amend RR 9-2021 will cover sales to exporters in the third quarter of taxable year 2021.
Since VAT returns were quarterly, the provisions of CREATE law will cover returns starting the quarter beginning July. INQ
June 2025
Philippine Environment Month!
“Action for Nature, for the Future!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
Monthly Observances:
1 Jun – World Day of Parents
5 Jun – World Environment Day
7 Jun – World Food Safety Day
8 Jun – World Oceans Day
12 Jun – World Day Against
Child Labour
15 Jun – World Elder Abuse Awareness Day
16 Jun – International Day of Family Remittances
17 Jun – World Day to Combat Desertification and Drought
20 Jun – World Refugee Day
25 Jun – Day of the Seafarer
27 Jun – Micro-, Small and Medium-sized Enterprises Day
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
