Tax Notes: Status quo on VAT zero-rating of sales to Peza entities

PHILIPPINE Economic Zone Authority (Peza) issued Memorandum Circular (MC) No. 2018-003 dated March 12, announcing that the sale of goods and services to Peza entities will continue to be subject to zero percent value-added tax (VAT).

MC No. 2018-003 was issued following a clarification from the Department of Finance (DOF) that the Tax Reform for Acceleration and Inclusion (Train) Law does not affect the current zero-rating of sales of goods and services to Peza locators.

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