Japanese ODAs face delays anew (Business Mirror (Philippines))

The implementation of projects funded by Japan’s official development assistance (ODA) is again at risk of being delayed, after the Bureau of Internal Revenue declared that Japanese contractors cannot pass on the full 12-percent value-added tax (VAT) to the Philippine government. Internal Revenue Commissioner Kim Jacinto-Henares made this pronouncement in Revenue Memorandum Circular (RMC) 45-2015, which…