12. What is 10% and 12% VAT?
The increase in the prices of oil products lead to the implementation of 10% VAT on all domestic airline and sea tickets starting November 1, 2005 under Republic Act 9337( Consolidated VAT Regulations of 2005). Effective February 1, 2006, the 10% VAT is increased to 12% as mandated by the VAT Reform Law.
The increase in the prices of oil products lead to the implementation of 10% VAT on all domestic airline and sea tickets starting November 1, 2005 under Republic Act 9337( Consolidated VAT Regulations of 2005). Effective February 1, 2006, the 10% VAT is increased to 12% as mandated by the VAT Reform Law.