VAT Threshold

#TRAINlawDefinitionOfTerms

VAT Threshold – refers to the ceiling set to determine VAT registrable taxpayers, currently set at three million (P3,000,000.00) pesos. It is the same threshold to be used to determine the income tax liability of self – employed and/or professionals under Sections 24(A)(2)(b) and 24(A)(2)(c)(2) of the Tax Code, as amended.