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
July 2025
Nutrition Month
“Give us much more than P50 increase
for proper nutrition!”
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!
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July
3 July – International Day of Cooperatives
3 July – International Plastic Bag Free Day
5 July – World Youth Skills Day
7 July – Global Forgiveness Day
11 July – World Population Day
17 July – World Day for International Justice
28 July – World Nature Conservation Day
30 July – World Day against Trafficking in Persons
Monthly Observances:
Schools Safety Month
Nutrition Month
National Disaster Consciousness Month
Weekly Observances:
Week 2: Cultural Communities Week
Micro, Small, and Medium Enterprise
Development Week
Week 3: National Science and
Technology Week
National Disability Prevention and
Rehabilitation Week
July 1-7:
National Culture Consciousness Week
July 13-19:
Philippines Business Week
Week ending last Saturday of July:
Arbor Week
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
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