IN a profession marked by constant change and intricate legislation, taxation in the Philippines is anything but static. For certified public accountants (CPAs), navigating these changes has become a routine challenge — especially when it comes to the evolving provisions of the value-added tax (VAT).
IN a profession marked by constant change and intricate legislation, taxation in the Philippines is anything but static. For certified public accountants , navigating these changes has become a routine challenge — especially when it comes to the evolving provisions of the value-added tax . Among the most dynamic portions of our Tax Code is Section 109, which lays out the transactions exempt from VAT .
– Low-cost housing — Residential lots valued up to P2.5 million and houses up to P4.2 million — thresholds that are subject to triennial adjustment . – Lease of residential units — Where monthly rent does not exceed P15,000 . – Publications — Educational reading materials in physical or digital format, provided they are not primarily advertising-based. – Senior citizens and persons with disabilities purchases — Consistent with RA 9994 and RA 10754.
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