Economist-solon Joey Sarte Salceda used the occasion of the 77th Annual National Convention of the Philippine Institute of Certified Public Accountants (PICPA) in Cebu City to explain why the proposed Ease of Paying Taxes Bill must be enacted before 2023.
Economist-solon Joey Sarte Salceda used the occasion of the 77th Annual National Convention of the Philippine Institute of Certified Public Accountants in Cebu City to explain why the proposed Ease of Paying Taxes Bill must be enacted before Jan. 1, 2023.
Among the provisions Salceda hopes to have implemented by the start of next year is the indexation of the value-added tax -exempt sales threshold to the annual consumer price index . The threshold is currently at P3 million. “It will reduce the documentary discrepancies and make electronic invoicing easier. Easier invoicing means faster VAT refunds. That makes our export sector more competitive.”
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