ATTY. PEACHES MARTINEZ-ARANAS
THE secretary of Finance has issued Revenue Regulations 26-2018, which amends certain portions of RR 13-2018, or the “2018 Value-added Tax (VAT) Regulations.” RR 13-2018 implements the VAT and percentage tax provisions of Republic Act 10963, or the Tax Reform for Acceleration and Inclusion (Train) Act. Like Train, RR 13-2018 took effect on Jan. 1, 2018.