News and Updates
Welcome to our news and updates section!
Read the latest accounting and bookkeeping news and information here. In this section, we also post updates on the taxation system in the Philippines and its technicalities.
The Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular (RMC) No. 75-2020 amending the deadline stated under RMC 60-2020 on the registration of business and/or updating of the registration status of all persons doing business and earning income through digital transactions across electronic platforms.
The Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular (RMC) No. 74-2020 amending certain provisions under the RMC 34-2020. This circular has declared change in the suspension period of the statute of limitations.
The Bureau of Internal Revenue (BIR) reminds online sellers in the provinces to register on or before July 31 to become legitimate online entrepreneurs and ensure tax compliance.
The Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular (RMC) No. 72-2020 amending the Part C of RMC 36-2020 relative to mandatory photocopies of documents involving credit extensions and credit restructuring as requirements for Documentary Stamp Tax (DST) exemption.
The Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular (RMC) No. 70-2020, pursuant to the provisions of Revenue Regulations (RR) No. 14-2020, circularizing the list of expired Tax Credit Certificates (TCCs).
The Bureau of Internal Revenue (BIR) released Revenue Regulations (RR) No. 19-2020 prescribing the utilization of the new BIR Form No. 1709, otherwise known as the Information Return on Related Party Transactions (Domestic and/or Foreign), which replaces BIR Form No. 1702H or Information Return on Transactions with Related Foreign Persons.