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RMC No. 07-2006: Publishes the full text of the memorandum issued by Executive Secretary Eduardo R. Ermita informing the Secretary of Finance that his recommendation to increase the Value-Added Tax rate from 10% to 12% effective February 1, 2006 has been approved by the President

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Summary

RMC No. 7-2006 publishes the full text of a memorandum from Executive Secretary Eduardo R. Ermita to the Secretary of Finance, pursuant to Republic Act No. 9337.

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Key points

  1. VAT rate increase approved. The memorandum informs the Secretary of Finance that the President approved his recommendation to raise the Value-Added Tax rate from 10% to 12% effective February 1, 2006.

Deadlines and effectivity

  • VAT rate of 12% effective February 1, 2006

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.

Related issuances (1)

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Cited byRMC No. 45-2015

Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.