Philippines hikes VAT registration threshold
- Jan 9, 2018 | Richard Asquith
The Philippines introduced a number of VAT changes on 1 January 2018 as part of a wider tax overhaul.
The changes included increasing of the VAT registration threshold to PHP 3million from PHP 1.9million to take thousands of small businesses out of the tax administration net. Once over this limit, businesses must register for VAT and charge 12% on all taxable supplies.