The Philippine Tax Whiz discusses the introduction of Output VAT Credit on Uncollected Receivables through Revenue Memorandum Circular 65-2024 of the Bureau of Internal Revenue. As a seller, who is ...
In case the seller avails of the output VAT credit on its uncollected receivables, Revenue Memorandum Circular (RMC) 65-2024 requires that the seller shall stamp “Claimed Output VAT Credit” on the ...
Beginning January 2024, upon the passage of the Ease of Paying Taxes Act (EOPT Act), all taxpayers are mandated to adopt the accrual basis of accounting in reporting and subjecting their revenues to ...
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