VAT TCC Five-year Monetization Program

Revenue Memorandum Circular No. 21-2012 dated May 3, 2012 circularizes the full text of Executive order No. 68 dated March 27, 2012 (E.O. 68 – 2012) entitled “Monetization Program of Outstanding Value-added tax (VAT) tax Credits Certificates (TCs)” For easy reference, hereunder are the summary of rules laid down in EO 68 – 2012: Five-year

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