The Philippines Bureau of Internal Revenue (BIR) has issued Revenue Regulations (RR) No. 21-2021, which provides amendments to reinstate VAT zero-rating for certain supplies to exporters. As previously reported, RR No. 9-2021 introduced amendments that removed the VAT zero-rating on certain sales to export enterprises, instead imposing the standard 12% VAT rate. However, due to the continuing COVID-19 pandemic and its impact on the export industry, it was subsequently decided to defer the implementation of RR No. 9-2021 until the issuance of amendatory revenue regulations. These amendatory revenue regulations are contained in RR No. 21-2021, providing that the sale of...