The Bureau of Internal Revenue (BIR) has further relaxed the requirements for filing and processing applications for value added tax (VAT) refunds, in a move aimed at facilitating the ease of doing business in the country.
BIR lowers requirements for VAT refund claims | ANC
In a statement on Friday, the BIR said Commissioner Romeo D. Lumagui Jr. has issued Revenue Memorandum Circular (RMC) No. 71-2023 and Revenue Memorandum Order (RMO) No. 23-2023, both effective July 1, 2023, to streamline the documentation requirements and procedures in the filing and processing of VAT refund claims pursuant to Section 112 of the National Internal Revenue Code of 1997.
According to the BIR, there are notable changes in these new income taxes compared to RMO No. 47-2020, including the substantial reduction in the number of required documents from 30 to a minimum of 9 and a maximum of 17, and the no longer submission of soft copies of the scanned sales invoices or official receipts in support of both purchases and sales of goods or services.
According to the BIR, the taxpayer claiming the VAT refund only needs to submit the original copies of the said documents.
