Philippines

Philippines hikes VAT registration threshold

January 10th, 2018

The Philippines introduced a number of VAT changes on 1 January 2018 as part of a wider tax overhaul. The changes included increasing of the VAT registration threshold to PHP 3million from PHP 1.9million to take thousands of small businesses out of the tax administration net. Once over this limit, businesses must register for VAT …


Philippines

Philippines mulls 15% VAT

August 16th, 2016

The Philippines is considering raising VAT from 12% to 15% to fund a raise in government expenditure and fund a cut to 25% in the corporate income tax rate. There is also a plan to broaden the VAT base by removing a range of exemptions on over 30 goods and services. The plans are to …


Philippines

Philippines 14% VAT proposal

May 26th, 2016

The Philippines has proposed raising its VAT rate from 12% to 14%. In addition, the government is proposing to widen the goods and services which is subject to the indirect tax. The move will help to fund changes to personal and corporate income tax. The proposal have yet to be fully implemented.