EOPT: On value added taxes
IN January 2024, taxpayers in the Philippines were greeted with a significant law seeking to improve tax administration and compliance. This law, of course, is the Ease of Paying Taxes (EOPT) Act. Following the effectivity of the law, draft revenue regulations (RR) have been circulated for comments from the public. For our short analysis, we will focus on some rules being proposed in relation to value added tax (VAT).