Issue guidelines on VAT rules, solon presses BIR

By Rio N. Araja

ALBAY Rep. Joey Salceda on Sunday called on the Bureau of Internal Revenue (BIR) to issue the necessary rules and regulations to implement resolutions to value-added tax-related events concerns of registered business enterprises immediately as “these matters have already been exhaustively discussed both on their end in the Executive and on our end in Congress.”

FILIPINO journalist who has patented a utility model for a clean energy conversion system has appealed to the sectors of academics and traditional technology to work together for the conduct of more research and development (R&D) studies on worthy utility projects and industry products.

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Maulana up with President Ferdinand Romualdez Marcos Jr. are innovative products that are still not in the platform of the conventional market because they are hardly backed by R&D studies.

Maulana said there is a “wide gap” in what is supposed to be a “collaborative working relationship” between academics and workers in the traditional technology sector.

“I urge Commissioner Romeo Lumagui to issue the rules and regulations on the clearer and smaller negative list on VAT zero-rating for registered exporters, the rules on simplified VAT refunds and the application of the transitory period for the 5 percent gross income earned (GIE) for domestic enterprises without delay,” he said.

“Last Tuesday, we reiterated this in the committee on ways and means, during our regular hearing. Secretary Benjamin Diokno already issued the directive this week to the BIR. At least on the zero-rating. So we expect at least that one by next week. No more issues left to study or discuss there,” he added.

AID FOR WORKERS. President Ferdinand Marcos Jr. opens a ‘Kadiwa ng Pangulo Para Sa Manggagawa’ outlet with at least 150 businesses and sellers from participating agencies such as the Department of Labor and Employment, Department of Trade and Industry, Department of Agriculture and Department of Social Welfare and Development ahead of today’s 121st Labor Day commemoration at the SMX Convention Center in Pasay City on Sunday, April 30, 2023.