Value Added Tax Philippines, In and Out – Seminar

Value Added Tax in the Philippines is one of the most complex tax types where most taxpayers are committing mistakes in application, either in the simple BIR returns preparations, computations, administrative compliance and/or substantiation thereby ending up with a tax exposure, unknowingly. It appears to be simple because you simply multiply gross sales or gross receipts, net of VAT, with 12% but there are many technicalities most taxpayers are not aware of. As a result, they are being assessed not only for additional VAT liability but sometimes because of a simple technicality.

Having this in mind, this seminar is conceptualized to explore the basic requirements and technicalities of existing VAT rules and regulations. Learn the ins and outs of value added tax (VAT) in the Philippines and avoid, if not eliminate unnecessary exposures. Educate for your business advantage.

• Learn the nature and basic principles of the Philippine VAT system;
• Learn VAT on sale of goods and properties, and services;
• Learn the application of 12%, 0-rated sales, and exempt sales;
• Learn the technicalities on BIR special rules on special issues (e.g. deemed sale, reimbursements, dealings with non-residents, etc.)
• Learn how withholding VAT works and corresponding treatments and implications;
• Learn proper invoicing requirements and avoid committing common errors;
• Learn how to compute output VAT, and input VAT along with the special requirements and rules for input VAT;
• Learn the preparation of VAT returns and related attachments (BIR Form No. 2550M/Q, summary lists, alphalists, and withholding tax certificates;
• Learn how BIR makes an assessment on VAT, common assessment areas and defenses;
• Develop an overview on VAT refund with the BIR and through judicial claims.

Schedule: Seminar workshop runs from 9:00 a.m.-5:00 p.m at Sorosa Building, Sen. Gil Puyat Ave. (Buendia Avenue) corner F.B. Harrison, Pasay City, Metro Manila. We can also arrange for special group of at least three (3) participants at their own venue.

Package: P2,500 per participant – Handouts/Notes and pencils/Comprehensive illustrations/ BIR VAT returns/Seminar Certificate/ Lunch and snacks – a.m./p.m.. Please bring calculator.

Advocate Tutor: Certified public Accountant (CPA) who has gained much professional experience being in the Tax Division of a law office based in Makati for more than six (6) years now, and as a part-time professor in the College of Accountancy – Polytechnic University of The Philippines, Taguig for about four (4) years now handling basic accounting & taxation subjects.

Reservation: At least P1,000 reservation fee to be deposited to BDO Current Account (Please contact us for account details) & balance on seminar day.