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.
News
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.
The Bureau of Internal Revenue (BIR) releases Revenue Memorandum Circular (RMC) No. 64-2020 indicating revisions on guidelines and requirements of Philippine Offshore Gaming Operator (POGO) Licensees and Service Providers in applying for BIR clearance. The compliance for BIR clearance application is substantial for POGO Licensees and Providers to secure the resumption of their operations in the Philippines.
The Bureau of Internal Revenue (BIR) released Revenue Regulations (RR) No. 16-2020 to further extend the deadline of application for Value-Added Tax (VAT) refund claims. Due to the adjustments on business processes caused by the COVID-19 pandemic, BIR extends the VAT filing for thirty (30) days from the lifting of the quarantine period.
The Bureau of Internal Revenue (BIR) released Revenue Regulations (RR) No. 15-2020 to amend certain provisions of the RR No. 4-2019 relative to Tax Amnesty on Delinquencies (TAD). Under the released amendments, BIR further extends the deadline on the availment of tax amnesty on delinquencies and suspends the due dates for filing and application within the period of the community quarantine.
The Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular (RMC) No. 61-2020 to further amend the provisions of Revenue Regulations (RR) No. 4-2019, as previously amended by RR NO. 5-2020 and RR No. 11-2020. The circular declares the supplemental extension on the availment duration of tax amnesty on delinquencies.
The Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular (RMC) No. 60-2020 emphasizing the required compliance of businesses transacting through digital means. The circular highlights the obligations of online businesses, under the provisions of Section 236 of the Tax Code, to secure registration and tax compliance with BIR.
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 59-2020, pursuant to the Republic Act (RA) No. 11469, otherwise known as “Bayanihan to Heal As One Act”, amending the provisions of the RMC No. 47-2020 relative to the released guidelines of temporary measures adopted by taxpayers as a relief in compliance with the agency’s receipting and invoicing requirements.
The Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular (RMC) No. 57-2020 removing Mayor’s Permit* (MP) as one of the mandatory requirements for registering a business with the agency. The removal is part of the streamlined registration requirements and revised documentary requirements checklist to further ease doing business in the Philippines.