Live Breaking News & Updates on Ccording Toa Bureau Of Internal Revenue Bir Official Larry Barcelo

Philippine Exporters Confederation, Inc. (Facebook photo) MANILA - The new Revenue Regulation (RR) that will allow exporters to continue to avail of zero value-added tax (VAT) rating on their local purchases of goods and services will be issued soon, according to a Bureau of Internal Revenue (BIR) official. Larry Barcelo, Officer-in-Charge and Assistant Commissioner for BIR Legal Service, informed the House Committee on Ways and Means in an online public hearing on December 6 that the amendatory RR has been signed and will be published soon in a newspaper of general circulation. "There is yet no number on that RR and [we will still] publish it, but it was signed by both the Commissioner [of the BIR] and the Secretary [of Finance]. It implements the VAT zero-rating of local purchases of goods and services under Sections 294 E and 295 D of Title XIII of the CREATE Act as well as Section 5, Rule 2 and Section 5, Rule 18 of the CREATE IRR. So next week siguro (maybe) this will be publ ....

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