Foreign chambers press govt on VAT

European and Japanese businessmen urged the government and the Supreme Court (SC) to “have a “prospective ruling” on the value-added tax (VAT) refunds for foreign investors in the country.

Henry Schumacher, executive vice president of the European Chamber of Commerce of the Philippines, said in a press briefing on Wednesday that with High Tribunal declaring the Priority Assistance Development Fund, or “pork barrel,” as unconstitutional, the court won’t have a “reason why it cannot do the same on the VAT refunds.”