MANILA — The Bureau of Internal Revenue (BIR) said it has paid out P23.67 billion in tax refunds from January to September this year.
This is higher than the P12.42 billion seen in the same period last year.
"We want to put that money back in the hands of our businesses so they can use it for operating expenses, preserve cash flow, and keep their businesses moving, especially during this energy crisis,” said BIR Commissioner Charlito Mendoza.
“Tax administration is not only about collecting what is properly due to government. We must also return what is properly due to the taxpayer once the claim has been evaluated and approved,” he said.
Earlier this year, the BIR exempted indigenous natural gas and related power generation transactions from value-added tax (VAT).
It has also allowed refunds for export-oriented businesses while waiting for official zero-rating certifications.
The BIR has also removed the VAT on the allowable system loss charge in electricity bills.
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