Summary
RMC No. 61-2005 provides basic questions and answers clarifying the VAT provisions of Republic Act (R.A.) No. 9337 that apply to the power industry.
Key points
- Covered industry. The power industry includes generation, transmission and distribution companies and electric cooperatives as defined in R.A. No. 9136 (EPIRA). Their suppliers and customers are also covered.
- VAT effectivity. These businesses are subject to VAT effective November 1, 2005.
Who is affected
- Power generation, transmission and distribution companies
- Electric cooperatives under R.A. No. 9136
- Their suppliers and customers
Deadlines and effectivity
- VAT applies effective November 1, 2005
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
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