Republic Acts1 min read
Section 8Sec./Art. 8
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Section 109 of the National Internal Revenue Code of 1997, as amended, is hereby further amended to read as follows:
"Section 109. Exempt Transactions. -
(1) Subject to the provisions of Subsection (2) hereof, the following transactions shall be exempt from the VAT:
x x x
(u) Importation of fuel, goods, and supplies used for international shipping or air transport operations;
x x x
(dd) Importation of goods by an export-oriented enterprise whose export sales is at least seventy percent (70%) of the total annual production of the preceding taxable year: Provided, That such goods are directly attributable to the export activity of the export-oriented enterprise: Provided, further, That the Export Marketing Bureau of the DTI shall determine the compliance with the aforementioned threshold. For this purpose, 'directly attributable' shall follow the same definition under Section 106 of this Code."
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