Local and foreign investors are seeking a five-year tax relief from the Senate Bill No. 1357, also known as the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE), to give them time to recoup their losses during the COVID-19 pandemic.
The government’s tax collections from the Philippine Offshore Gaming Operators (POGOs) are declining as they close shops and leave the Philippines to escape its COVID-19 situation.
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.
The Department of Finance (DOF) assures the public that the government will fund the Universal Health Care (UHC) law despite corruption allegations against the Philippine Health Insurance Corporation (PhilHealth).
The Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular (RMC) No. 82-2020 advising taxpayers of the availability of the electronic Audit Financial Statements (eAFS) System for the submission of attachments to their 2019 filed Income Tax Returns (ITRs).
The Bangko Sentral ng Pilipinas (BSP) grants large banks the authority to extend more property loans to their borrowers.
The Bureau of Internal Revenue (BIR) issues guidelines to implement neutral tax treatment between Islamic banks and conventional banks.
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.