GUIDELINES IN ISSUING ELECTRONIC LETTER OF AUTHORITY AND TAX VERIFICATION NOTICE, RMO No. 6-2023, February 9, 2023 Transactions where audit is required as a condition to issue tax clearance, processing of claims for tax credit/refund and other cases as may be identified by the CIR as priority target for audit/investigation To
BIR ANNOUNCES THE AVAILABILITY OF ONLINE APPLICATION FOR REGISTRATION INFORMATION UPDATES AND OTHER ONLINE FACILITIES FOR REGISTRATION –RELATED TRANSACTIONS THROUGH ONLINE REGISTRATION AND UPDATE SYSTEM (ORUS) RMC No. 12-2023 The implementation of online application for registration information update and other online facilities for registration-related transactions through Online Registration and Update System
BIR PRESCRIBES THE POLICIES AND GUIDELINES ON THE REGISTRATION OF BOOKS OF ACCOUNTS RMC No. 03-2023 All books of accounts shall be registered online with the Bureau’s Online Registration and Update System (ORUS). Instead of manual stamping of books of accounts, a Quick Response (QR) Code shall be generated, which
SEC 2023 SCHEDULE FOR FILING OF THE AUDITED FINANCIAL STATEMENTS AND GENERAL INFORMATION SHEET The SEC has set the deadlines for the filing and submission of the 2022 audited financial statements (AFS) and general information sheet (GIS) of corporations through the Electronic Filing and Submission Tool (eFAST). Annual Financial
BIR LIFTS THE SUSPENSION OF THE CONDUCT OF ENFORCEMENT ACTIVITIES AND OPERATIONS COVERED BY OUTSTANDING MISSION ORDERS (MOS) AND REMOVAL OF THE PROHIBITION ON THE ISSUANCE OF NEW MOS AUTHORIZING SUCH ACTIVITIES AND OPERATIONS UNDER REVENUE MEMORANDUM CIRCULAR NO. 77-2022. (RMC No. 127-2022, September 7, 2022) Under RMC No. 77-2022 dated
BIR TO LAUNCH ONLINE REGISTRATION AND UPDATE SYSTEM (ORUS); TAXPAYERS ARE ADVISED TO UPDATE RECORDS USING REGISTRATION UPDATE SHEET (RUS); OFFICIAL EMAIL ADDRESSES SHOULD BE PROVIDED, WHERE THE BIR SHALL SERVE ITS ORDERS, NOTICES, LETTER, AND OTHER PROCESS/COMMUNICATIONS. RMC No. 122-2022 The BIR prescribes the guidelines in updating the registration information
COURT OF TAX APPEALS DECISIONS January 2022 REFUND OF EXCESS INPUT VAT ON ZERO-RATED SALES Certain requisites must be complied with by the taxpayer-applicant to successfully obtain a credit/refund of input VAT related to zero-rated sales. Said requisites are classified into certain categories, to wit: As to the timeliness
COURT OF TAX APPEALS DECISIONS December 2021 REFUND OF UNUTILIZED CREDITABLE WITHHOLDING TAX In filing a claim for refund or credit of creditable withholding tax, compliance with the following must be met: The claim for refund must be filed within the two-year prescriptive period. The administrative and judicial remedy
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
