COURT OF TAX APPEALS DECISIONS TRUST FUND CONTRIBUTIONS BY PRE-NEED COMPANY IS EXCLUDED FROM GROSS RECEIPT FOR VAT PURPOSES; 19.75% UNDER-DECLARATION OF SALE WARRANTS THE APPLICATION OF 3-YEAR PRESCRIPTIVE PERIOD. Under the law, contributions to the trust fund are not included in the gross receipts of a pre-need company. Accordingly,
COURT OF TAX APPEALS DECISIONS ASSESSMENT IS VOID IF THE BIR ISSUES FLD/FAN 3 WORKING DAYS AFTER TAXPAYER FILED ITS REPLY TO THE PAN, EVEN IF FLD/FAN IS ISSUED AFTER THE 15-DAY PERIOD REQUIREMENT. A taxpayer has 15 days from receipt of the PAN within which to submit a written
We would like to share a VAT planning opportunity that may be particularly relevant to businesses with 70% export-related sales of goods and services. Under the CREATE MORE Act (Republic Act No. 12066), VAT-registered exporters that meet the 70% export sales threshold for the preceding taxable year may apply for