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(From BusinessWorld (Philippines))
Byline: Felipe F. Salvosa II
The head of the Bureau of Internal Revenue (BIR) has expressed opposition to the 70% cap on input value-added tax (VAT), saying he would help efforts to repeal this provision of Republic Act 9337, or the amended expanded value-added tax (VAT) law.
Speaking before a recent gathering of the Federation of Philippine Industries, BIR Commissioner Jose Mario C. Bunag said his agency would try to make things easier for companies in the meantime, even as the law has to be enforced.
Agreeing with businessmen long opposed to a limit to input taxes that can be deducted from VAT payments …