The Philippine Court of Tax Appeals issued a decision on Jan. 16, 2026 in CTA Case No. 10570, ruling that yearbook printing is VAT‑exempt because yearbooks qualify as books under Philippine law. The ruling invalidated the Commissioner of Internal Revenue’s assessments for deficiency income tax and VAT for the taxable year 2013, which had been based on BIR Ruling No. 421‑2013. The decision clarifies the validity of such assessments and the treatment of yearbook sales for VAT purposes.
The Court ruled that yearbook printing is VAT‑exempt because yearbooks qualify as books under Philippine law.
The CIR cited BIR Ruling No. 421‑2013 to support the classification of yearbook sales as VAT‑taxable.
The decision was issued on Jan. 16, 2026.
The decision invalidated the assessments for deficiency income tax and VAT for the taxable year 2013, clarifying that yearbook sales are VAT‑exempt.
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Tribune · 9 days ago
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Bloomberg Tax · 11 days ago
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Bloomberg Tax · 18 days ago
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Bloomberg Tax · 25 days ago
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Bloomberg Tax · 28 days ago
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