VAT Philippines: Understanding Value Added Tax for Filipinos - The Pinoy OFW
VAT Philippines: Understanding Value Added Tax for Filipinos - Th…
Oct 28, 2022
thepinoyofw.com
10K views · 556 reactions | ICYMI: The Philippines is now value-added tax (VAT) -free for foreign tourists with the recent signing of the implementing rules and regulations (IRR) for Republic Act No. 12079, or the VAT Refund for Non-Resident Tourists. Watch the video to see the highlights of the event. #DOFUpdates #RectoUpdates #RalphRecto #DepartmentofFinance | Department of Finance | Facebook
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✨ Know Your Taxes! ✨ Ever wondered what VAT is? 🤔 VAT = Value-Added Tax ✅ is a type of sales tax in the Philippines. It is imposed on the sale, barter, exchange, or lease of goods and services, as well as on imported goods. ✅ it is an indirect tax—meaning it can be passed on to the buyer, transferee, or lessee. Every time you shop, dine, or avail services, VAT is right there on your receipt. ✔️ 👉 Want to know more about your taxes? Like and Follow us! 🔎📲 #BIR #KnowYourTaxes #BIRTrivia #TaxFa
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