BIR extends the deadline for filing of position papers, replies, protests, documents and other similar letters and correspondences in relation to the ongoing BIR audit investigation and filing of VAT Refund with the VAT Credit Audit Division due to the declaration of ECQ and MECQ in the National Capital Region and other areas of the country.
Government Advisories
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).
BIR provides the guidelines in the filing of returns and payment of corresponding taxes due thereon, and submission of reports and attachments falling within the period from August 6 to 20, 2021 for taxpayers under ECQ and MECQ.
BIR further amends pertinent provisions of RR Nos. 2-2006 and 11-2013, as amended by RR No. 2-2015, more particularly on the manner of submission of copies of BIR Form Nos. 2307 and 2316.
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.
The Securities and Exchange Commission (SEC) issued SEC Memorandum Circular (MC) No. 3-2021 to prescribe the use of the Online Submission Tool (OST) for the filing of audited financial statements (AFS), general information sheets (GIS), and other annual reports of registered corporations in the Philippines.
The Bangko Sentral ng Pilipinas (BSP) released a proposal to stakeholders about an open banking framework as part of the regulator’s three-year digital payments transformation program.
The Bangko Sentral ng Pilipinas (BSP) extends the transitory period for the certification of marketing personnel authorized to sell unit investment trust funds (UITFs) until 2023 in the Philippines.
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 112-2020 clarifying the postponement of effectivity of the enlisted and delisted taxpayers of the Large Taxpayers Service (LTS) to January 1, 2021, relative to the memorandum released by the Bureau on September 21, 2020.
The Bureau of Internal Revenue (BIR) allows manufacturers and importers of COVID-19 essentials to enjoy fiscal incentives during the COVID-19 pandemic.