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An In-depth Look into the Philippine Business Tax System
Annually, the Philippines conducts its tax rounds for businesses nationwide. Let’s take a deeper look into the Philippine Business Tax System.
15 May 2023
BIR Releases Advisory on Computation of Tax Payments Relative to EFPS Facility
The Bureau of Internal Revenue (BIR) released a tax advisory, issued on March 30, clarifying the amount of tax payments relative to the eFPS facility — a BIR online system for computation of penalties.
02 Apr 2020
BIR to Expand PWD Discount for Commodities and Necessities
The Bureau of Internal Revenue (BIR) will amend Revenue Regulation (RR) No. 5-2017, granting Persons With Disabilities (PWD) a discount for select products that may fall under necessities and prime commodities starting in September 2019.
02 Sep 2019
BIR Releases Rules on VAT Zero-Rating of Goods and Services
The BIR announced regulations on VAT zero-rating which covers IT and business process management businesses.
17 May 2023
Implementation of the Quarterly Filing of VAT Returns
In its latest advisory, BIR implemented a new payment deadline under the amended subsection of RR No. 13-2018.
26 Jan 2023
BIR Issues Standard Policy on the use of BIR Form No. 0605 For Excise Tax Purposes
The Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular (RMC) No. 97-2020 establishing a standard policy/guidelines on the use of BIR Form No. 0605. The said form shall now be authorized for use on certain transactions only to avoid challenges in monitoring and reconciling the record of taxpayers.
17 Sep 2020
BIR Issues Guidelines and Requirements on BIR Clearance Application of POGO Licensees and Service Providers
The Bureau of Internal Revenue (BIR) releases Revenue Memorandum Circular (RMC) No. 46-2020 declaring the guidelines and requirements of Philippine Offshore Gaming Operator (POGO) Licensees and Service Providers to secure their application for BIR clearance, allowing resumption of operations.
13 May 2020
BIR RMC No. 93-2021
BIR suspends the running of the statute of limitations on assessment and collection of taxes pursuant to Section 223 of the NIRC of 1997, as amended, due to the declaration of ECQ and MECQ in the National Capital Region and other areas of the country.
18 Aug 2021
BIR RMC No. 94-2021
BIR clarifies the computation of Donor’s Tax in case the heir waves/renounces his share from the specific property forming part of the estate of the decedent.
24 Aug 2021
BIR Offers Tax Incentives For Production and Imports of COVID-19 Essentials
The Bureau of Internal Revenue (BIR) allows manufacturers and importers of COVID-19 essentials to enjoy fiscal incentives during the COVID-19 pandemic.
22 Oct 2020
BIR Form 1709 and Transfer Pricing Documentation
Businesses operating in the Philippines are required to submit the required documents for their taxes. This article will discuss BIR form 1709 and TPD.
23 Feb 2023
BIR RR No. 17-2021
BIR amends certain provisions of RR No. 16-2019 to implement the extension of the Estate Tax Amnesty pursuant to RA No. 11569, which amended RA No. 11213 (Tax Amnesty Act).
10 Aug 2021
BIR Releases Deadline for Filing of Annual Income Tax Returns and Attachments in the Philippines
The Bureau of Internal Revenue (BIR), in an advisory published on April 28, released the deadlines for the filing of amended Annual Income Tax Returns (AITRs) and required attachments in the electronically-filed AITR of the taxable period ending on December 31, 2020. The Bureau strictly reminds taxpayers the due dates for filing to avoid penalties.
04 May 2021
BIR Further Extends the Application Time for New Authority to Print Receipt and Invoices of Taxpayers
The Bureau of Internal Revenue (BIR) releases Revenue Memorandum Circular (RMC) No. 41-2020, relative to Proclamation No. 929 implementing the Enhanced Community Quarantine (ECQ) and Republic Act (RA) No. 11469 or the “Bayanihan to Heal as One Act”, clarifying extensions in the time of application for new Authority to Print (ATP) receipts and/or invoices of taxpayers.
15 Apr 2020
BIR RMO No. 25-2021
The Bureau of Internal Revenue (BIR) prescribes the policies, guidelines and procedures in the conduct of the Online Pre-Employment Examination.
14 Sep 2021