BSP transactions exempt from GRT coverage

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BIR REVENUE REGULATIONS NO. 8-2008: BSP transactions exempt from GRT coverage

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Title Supreme Court: BSP transactions exempt from GRT coverage

Law: Bir Revenue Regulations No. 8-2008

Decision Date: Aug 20, 2008

BIR Revenue Regulations No. 8-2008 clarifies that transactions conducted by the Bangko Sentral ng Pilipinas (BSP) in its governmental capacity are exempt from the gross receipts tax imposed on banks and non-bank financial intermediaries, ensuring the BSP can effectively fulfill its monetary policy objectives without the burden of taxation on its revenues.

gross receipts

revenue regulations

national internal

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