07-20-2013, 08:16 AM #1
Zero Rated Purchases - PEZA certified Company
Hi Guys, I am from a peza certified company and we have purchases where the supplier issue us VAT invoice. We would like to inform our suppliers on how they should issue invoices to PEZA certified companies or how they can properly for account for their sales to us. Do you know of any reference or any BIR rulings covering this issue?
All suggestions and/or information would be highly appreciated.
07-20-2013, 08:40 AM #2
- Join Date
- Jul 2011
- In the Philippines
- Thanked 71 Times in 66 Posts
Maybe these BIR rulings and circulars can help you:
REVENUE MEMORANDUM CIRCULAR NO. 50-2007 (Tax Treatment of Sale, Barter or Exchange of Goods or Properties or Sale or Exchange of Services Made by Suppliers from the Customs Territory to Registered Freeport Zone Enterprises in the Subic Freeport Zone (SFZ), the Clark Freeport Zone (CFZ), as well as the Poro Point Freeport Zone
(PPFZ), and Vice Versa under Sections 12 and 15 of Republic Act No. 7227, as amended by Republic Act No. 9400.
Read here about the cross border doctrine: ftp://ftp.bir.gov.ph/webadmin1/pdf/35890rmc%20no.%2050-2007.pdf
Also, check this article from Punongbayan for more reading: http://www.punongbayan-araullo.com/pnawebsite/pnahome.nsf/section_docs/LV541A_25-11-05Read business and other related articles at BusinessTips.Ph
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07-22-2013, 03:00 AM #3