VAT System Restructuring and Administration

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Republic Act No. 7716: VAT System Restructuring and Administration

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Title Source: Supreme Court: VAT System Restructuring and Administration

Law: Republic Act No. 7716

Decision Date: May 5, 1994

Republic Act No. 7716 restructures the value-added tax (VAT) system by broadening its tax base, enhancing administration, and establishing a 10% VAT on goods and services while outlining exemptions and zero-rated transactions to promote economic activity.

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