Effective on February 1, 2021, our service charges, composed of the MDR and fixed fee, are already VAT-inclusive. There will be no additional deductions for VAT-related charges from your payouts as PayMongo shoulders all of it.
As a PayMongo VAT-registered merchant, you can avail of your input VAT credits when you file your VAT returns, which will positively impact your cash flow.
To request for a VAT official receipt, you may click on the button below. The VAT OR will include the detailed service charges (MDR and fixed fee) for the month with a breakdown of the VAT component and withholding tax refund if any.