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VAT refunds during the pandemic | BusinessWorld

​ The COVID-19 pandemic has forced businesses to explore new ways to improve their cash flow. One of the ways is to tap the government for VAT refunds. This recourse is available to taxpayers with unutilized input VAT attributable to zero-rated transactions and is governed by a process which was recently streamlined by the Bureau of Internal Revenue (BIR). In the past, we have heard about taxpayers who expressed reluctance to file VAT refund claims in view of the numerous documentary requirements and costs associated with the filing. Those who have actually filed faced difficulties in retrieving documents, whether internally or from outside sources, such as required certifications from various government agencies and foreign jurisdictions.

PEZA automates processes to ease ecozone transactions

MANILA, Philippines The Philippine Economic Zone Authority (PEZA) is implementing automated processes, including online payments, to promote ease of doing business in economic zones. “Now on its 26th year, it is high time that PEZA adapt technology and innovations and explore digital platforms to improve governance, transparency, ease of doing business, and accountability,” PEZA director general Charito Plaza said. Part of the efforts to.

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