BIR Amends VAT Exemption Rule

The VAT exemption threshold for the sale of house and lot packages and other residential dwellings is now at P3,199,200.00, applicable beginning 01 January 2021 per Bureau of Internal Revenue (BIR) RR 08-2021 dated 11 June 2021. The new regulation amends RR 04-2021 dated 08 April 2021, which pegged the threshold at only P2 Million …

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