The Philippine Multimodal and Transport and Logistics Association Inc. (PMTLAI) held a webinar last 17 March on the BIR’s simplified requirements for VAT refund and Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill updates. Over 65 finance professionals from the logistics industry participated in the event which was co-organized by SGV’s Logistics Sector Team and Tax Partner Cheryl Edeline C. Ong (CCO).
SGV Tax Senior Director Anne Margaret Momongan opened the discussion on the new and simplified requirements for the VAT refund application of taxpayers. She also provided insights on how to handle the VAT refund process. Tax Senior Director Don Don Mojica then discussed the line-by-line requirements of the VAT refund checklist, highlighting the changes brought about by the recent regulations.
CCO led a session on the proposed changes in Philippine taxation due to the most recent version of the CREATE bill. She explained how the bill may affect businesses and other companies availing themselves of fiscal incentives.
