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Philippines mulls 15% VAT

  • Aug 15, 2016 | Richard Asquith

Philippines mulls 15% VAT

The Philippines is considering raising VAT from 12% to 15% to fund a raise in government expenditure and fund a cut to 25% in the corporate income tax rate.

There is also a plan to broaden the VAT base by removing a range of exemptions on over 30 goods and services.

The plans are to be reviewed before the end of this year, including approval by congress and the senate. The implementation date for the rise could by 1 June 2017.

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.