REVENUE MEMORANDUM CIRCULAR NO. 8-2013 issued on January 25, 2013 publishes the full text of Joint Circular No. 6-2012 issued by the Department of Finance (DOF), Bureau of Internal Revenue (BIR) and Department of Budget and Management (DBM) entitled “Joint Guidelines Implementing the Special Provision of the General Appropriations Act on ValueAdded Tax (VAT) Refunds”.

     The guidelines shall cover all claims for refund of input VAT attributable to zero-rated or effectively zero-rated transactions under Section 112 of the National Internal Revenue Code (NIRC) of 1997 or R.A. No. 8424, as amended, which have been filed or lodged after the date of effectivity of the Joint Circular.

     The responsibilities of the DBM, DOF and BIR in the processing of claims for VAT refunds are specified in the Joint Circular. In the processing by the BIR of applications for refund of input VAT on zero-rated or effectively zero-rated transactions, the guidelines and procedures prescribed by the following revenue issuances shall continue to remain in force, until amended by other revenue issuances in the future: Revenue Memorandum Circular (RMC) No. 29-2009, Revenue Memorandum Order (RMO) No. 16-2007, Revenue Regulations (RR) No. 22-2007, RR No. 16-2005, RMO No. 50-2002, Revenue Audit Memorandum Order No. 1-99, RMO No. 53- 98 and RMO No. 40-94.

     Applications for cash conversion of Tax Credit Certificates (TCCs) pending with the BIR prior to the effectivity of the Joint Circular are to be governed by Section 204 of the NIRC of 1997, as amended, and other existing relevant issuances.

     Taxpayers with applications for TCCs prior to the effectivity of Executive Order No. 68 and the Joint Circular will be given the option to apply for refund instead.