Philippines Senate Considers Bill to Abolish Current VAT System

The Philippine Senate Oct. 9 accepted for consideration Bill No. 1450, to abolish the current VAT system and introduce a simplified VAT regime. The bill includes measures to repeal: 1) National Internal Revenue Code (NIRC) provisions on imposing VAT, including provisions on taxable persons and transactions, invoicing, digital transactions, and input VAT deductions; and 2) the 3 percent gross quarterly sales tax on non-registered taxpayers who are VAT-exempt due to gross annual supplies of specified goods and services not exceeding 3 million Philippine pesos (US$50,871). The law would enter into force 15 days after publication. [Philippines, Senate, 10/09/25]

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