Summary
RMO No. 42-2024 amends RMO No. 23-2024 on VAT refund claims automatically considered high-risk or requiring full verification under the risk-based approach.
Key points
- Added high-risk claims. Section II (1) of RMO No. 23-2024 now also covers applications with incomplete or missing information, such as no reference details or incomplete or no transaction details, in the schedules of sales and purchases in the prescribed format.
- List not exclusive. The list of claims in Section II (1) is not exclusive. The Commissioner of Internal Revenue may treat other cases as high-risk based on reasonable criteria, such as risk factors not captured in the risk matrix under item 2. These are covered by a separate revenue issuance.
Who is affected
- VAT refund claimants
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