BURS loses landmark VAT legal dispute

In a case that is likely to set a precedent that will dent BURS’ tax collections while opening up a pocket of respite for homebuyers, the CoA has   declared that the sale of property by a Non-VAT registered Deputy Sheriff under authority of a court order (sale of execution) is not liable to VAT charges.

 The VAT Act prescribes that every person who conducts business (taxable activity) of a value reaching or exceeding P500, 000 in any proceeding 12 months period is required to register under the Act.