Tax Updates June 2023 (SyCipLaw Tax Issues and Practical Solutions (T.I.P.S.) International Edition Vol. 9)

August 3, 2023

SyCipLaw's Tax Department has prepared an international edition of its Tax Issues and Practical Solutions (T.I.P.S.) for the second quarter of 2023.

Please read the full text here or via this link.

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The SyCipLaw T.I.P.S - International Edition covers the following tax issues:

1. May a public utility treat corporate income taxes as operating expenses for purposes of computing rates chargeable to consumers?

2. For input value-added tax ("VAT") refund claims filed prior to RMC No. 54-2014 (issued on June 11, 2014), is the 120-day period for the Bureau of Internal Revenue ("BIR") to decide a claim for refund of excess unutilized input VAT attributable to zero-rated sales counted from the date of filing of the application for refund or from the date of the submission of the complete documents?

3. Is a Renewable Energy ("RE") Developer's registration with the Department of Energy ("DOE") a pre-requisite for its entitlement to the VAT incentive provided by Republic Act No. 9513 or the "Renewable Energy Act"?

4. Are sales by a renewable energy developer entitled to zero-rated VAT prior to the issuance of a Certificate of Compliance by the Energy Regulatory Commission?

5. What is the difference between a tax and a regulatory/license fee imposed by a local government unit?

6. May a VAT-registered taxpayer file VAT returns and pay the corresponding VAT liabilities on a monthly basis notwithstanding the amendment introduced by Section 37 of the TRAIN Law requiring the filing and payment of VAT returns on a quarterly basis?

7. May an economic zone developer and operator be classified as an export enterprise and hence be granted VAT incentives?

8. Are IPA-registered enterprises conducting energy projects entitled to an Income Tax Holiday ("ITH") incentive on all their revenues from the sales of electricity?

9. Is Clark Development Corporation ("CDC") entitled to fiscal incentives (i.e., preferential tax rate of 5% on gross income in lieu of national and local taxes) granted to registered business enterprises ("RBEs")?