As per official of BIR (Bureau of Internal Revenue), the new RR (Revenue Regulation) that will permit exporters to keep on benefiting of zero percent VAT (Value-added tax) rating on local goods purchases and labor (services) will be given soon.
BIR Legal Service Officer-in-Charge & Assistant Commissioner, Larry Barcelo, told on December 6 the House Committee on --- Ways and Means --- in a public online hearing that the amendatory revenue regulation has been marked and will be distributed soon in a paper of general flow (circulation).
Barcelo said that there is yet zero number on that RR & it will still be published by them, however it was endorsed by both (Finance) Secretary and BIR's commissioner. It carries out the VAT 0% rate of acquisition of services and products locally under the Sections 295 D of Title XIII of the --- CREATE Act --- just as Section V, Rule 18 of the --- CREATE IRR ---, and Section V, Rule II, and Sections 294 E. So one week from now probably this will be distributed.
The specific arrangements of the dubious RR 9-2021 will be corrected by the new RR, which produced results in June and executed the 12% VAT on the aberrant products and offer of administrations recently burdened 0% Value-added tax.
The RR 9-2021 execution was suspended in July through RR Number 15-2021 by the BIR to clear a path for alterations following fervent protests from exporters, different partners (stakeholders), and homegrown providers, who said forcing the 12 percent VAT would shut down the industry hit by pandemic. Nonetheless, RR 15-2021 states that the deferment is exclusively because of the Covid-19 pandemic and new amendatory guidelines would be distributed.