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  • VAT Threshold

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    juliet_emelinotmaestro
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    The document discusses value-added tax (VAT) thresholds in the Philippines according to Republic Act No. 9337. It notes that the law requires VAT thresholds for gross sales, leases, and land/property sales to be adjusted every three years based on inflation, but the thresholds were not increased after January 31, 2009 as required. Increasing the thresholds could exempt more taxpayers from the 12% VAT and instead subject them to a 3% tax, which would benefit the economy by reducing prices and stretching peoples' purchasing power. The author filed a petition to compel the Bureau of Internal Revenue to comply with the law and increase the VAT thresholds.

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    The document discusses value-added tax (VAT) thresholds in the Philippines according to Republic Act No. 9337. It notes that the law requires VAT thresholds for gross sales, leases, and land/property sales to be adjusted every three years based on inflation, but the thresholds were not increased after January 31, 2009 as required. Increasing the thresholds could exempt more taxpayers from the 12% VAT and instead subject them to a 3% tax, which would benefit the economy by reducing prices and stretching peoples' purchasing power. The author filed a petition to compel the Bureau of Internal Revenue to comply with the law and increase the VAT thresholds.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    105 views1 page

    VAT Threshold

    Uploaded by

    juliet_emelinotmaestro
    The document discusses value-added tax (VAT) thresholds in the Philippines according to Republic Act No. 9337. It notes that the law requires VAT thresholds for gross sales, leases, and land/property sales to be adjusted every three years based on inflation, but the thresholds were not increased after January 31, 2009 as required. Increasing the thresholds could exempt more taxpayers from the 12% VAT and instead subject them to a 3% tax, which would benefit the economy by reducing prices and stretching peoples' purchasing power. The author filed a petition to compel the Bureau of Internal Revenue to comply with the law and increase the VAT thresholds.

    Copyright:

    Attribution Non-Commercial (BY-NC)
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    of 1

    EMELINO T MAESTRO

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    VAT THRESHOLD ETM conviction and belief


    In 2005, Republic Act NO. 9337 became a law.

    According On thereto, the P1,500,000 threshold for gross sales/receipts for gross sales/receipts, P10,000 threshold for lease of residential unit, and P1,500,000 and P2,500,000 threshold for sale of land, and house and lot shall be adjusted based on NSO Consumer Price Index on January 31, 2009 and every three [3] years thereafter. However, January 31, 2009 had passed by but no increase any VAT threshold was made.

    ear e e in 3-y c

    vent

    The purpose of increasing the same is to decrease the prices of services and commodities being sold by taxpayers.

    For example, those taxpayers who are now subject to 12% VAT may be exempted therefrom if the VAT threshold would be increased. Thus, they will no longer add 12% VAT on the sale of their products and services but only 3% percentage tax. This scenario is not only benecial to the economy of the Filipinos but also it stretches their purchasing power of the Philippine peso. Please help BIR by helping ETM encourage BIR to comply with the laws of the State without mental reservation and purposes of evasion. Also, by sharing information, experiences and evidences related to corrupt practices and actions of BIR, just like what some are doing in social network sites, could assist the Ombudsman and law-making body in controlling or eliminating graft and corruption. Be an ETM Tax Consultant

    This is clearly classied by the New Civil and Penal Codes as a NONFEASANCE. Last week, ETM led a legal petition notice to the Office of the Commissioner and her Deputy Commissioner requesting that these thresholds shall be deliberately adjusted to conform with the requirements of the law. He believes that they too shall strictly obey the law without mental reservation and purposes of evasion.

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