BIR RULINGS Taxpayer is exempt from income tax and creditable withholding tax on its income received directly in connection with its economic and low-cost housing project, consisting of house and lot units solely for family home or dwelling purposes, a project duly registered with the Board of Investments (BOI). Moreover,
CLARIFICATION ON THE INCOME TAX TREATMENT OF DIFFERENT CLASSIFICATIONS OF EDUCATIONAL INSTITUTIONS (Revenue Memorandum Circular No. 78-2022, June 8, 2022) Proprietary Educational Institution refers to any private school maintained and administered by private individuals or groups with an issued permit to operate from the Department of Education (DepEd), or the
ALL FIELD AUDITS ARE SUSPENDED UNTIL FURTHER NOTICE; NO NEW LETTER OF AUTHORITY/MISSION ORDER WILL BE ISSUED (Revenue Memorandum Circular No. 77-2022, May 30, 2022) All field audits and other field operations of the Bureau of Internal Revenue covered by Letters of Authority/Mission Orders relative to examinations and verifications of taxpayers’