What Are “Loss” and “Scrap” Under Section 36 of the BOI Regulation?
For companies granted BOI privileges, understanding the terms “Loss” and “Scrap” is critically important — as they directly affect raw material write-offs, documentation accuracy, and compliance with BOI requirements. 🧩 Definition of “Loss” Loss refers to raw materials that cannot be used for their original intended purpose, such as: 🔥 Definition of “Scrap” Scrap refers […]