MANILA, Philippines --- The Bureau of Customs (BOC) on Tuesday said those seeking for tax refunds may now be given outright cash instead of tax credit certificates (TCC). Under the Customs Administrative Order (CAO) 04-2019 titled, "Duty Drawback, Refund and Abatement," payment of tax credit or refunds may be through TCC or cash, depending on budgetary requirements. The BOC said the new provision "eliminates the processing for the issuance of the TCCs and the subsequent processing of the utilization of said TCCs in the payment of duties and taxes." "Previously, only VAT refunds duly approved by the Bureau of Internal Revenue are allowed to be pa...
Keep on reading: Tax refund claims may now be given as outright cash — BOC
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