Philippines News Agency Announces Issuance of VAT Regulation to Exempt Natural Gas, Related Power Generation

The Philippine News Agency March 23 announced the issuance of a VAT regulation to exempt indigenous natural gas and related power generation. The regulation includes measures to: 1) exempt indigenous natural gas, aggregated gas, and electricity generated using these gases, including ancillary services related to power generation; 2) limit the exemption for aggregated gas to the portion attributable to indigenous natural gas; 3) apply to suppliers, aggregators, resellers, generation facilities, and participants in the Philippine downstream natural gas industry; 4) require that entities acquire endorsement from the Department of Energy (DOE) Oil Industry Management Bureau, and certification from it showing ...