[ republic act no. 7716, may 05, 1994 ] AN ACT RESTRUCTURING THE VALUE-ADDED TAX (VAT) SYSTEM, WIDENING ITS TAX BASE AND ENHANCING ITS ADMINISTRATION, AND FOR THESE PURPOSES AMENDING AND REPEALING THE RELEVANT PROVISIONS OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, AND FOR OTHER PURPOSES

May 4, 1994 · AN ACT RESTRUCTURING THE VALUE-ADDED TAX (VAT) SYSTEM, WIDENING ITS TAX BASE AND ENHANCING ITS ADMINISTRATION, AND FOR THESE PURPOSES AMENDING AND REPEALING THE RELEVANT PROVISIONS OF THE NATIONAL INTERNAL REVENUE CODE, AS AMENDED, AND FOR OTHER PURPOSES.

Republic Act No. 7716, enacted on May 5, 1994, restructured the Value-Added Tax (VAT) system in the Philippines by broadening its tax base and improving administration.

Pursuant to the provisions of Sections 245 and 4 of the National Internal Revenue Code, as amended (Code), in relation to the provisions of Executive Order (EO) No. 273, as amended by Republic Act (RA) No. 7716, and as further amended by RA No. 8241, these Regulations are hereby promulgated to further implement Sections 102, 103, 105, 107 and ...

May 5, 1994 · Any person who, in the course of trade or business, sells, barters, exchanges, leases goods or properties, renders services, and any person who imports goods shall be liable to the value-added tax (VAT) imposed in Sections 100 to 102 of this Code.

It also contains copy of the Tax Code, BIR Forms, Zonal Values of real properties, and other tax information materials.

Republic Act No. 7716 seeks to widen the tax base of the existing VAT system and enhance its administration by amending the National Internal Revenue Code. These are various suits for certiorari and prohibition challenging the constitutionality of Republic Act No. 7716 on various grounds summarized in the Resolution of July 6, 1994 of this ...