BIR RULINGS The corporation’s entitlement to the full deductibility of the contribution/donation from gross income of the donor requires the said corporation to present certification from the NEDA that the contributions/ donations to Schools are in accordance with priority programs, projects and activities included in the current National Priority Plan.
LOCAL SUPPLIERS OF GOODS/SERVICES IS NO LONGER REQUIRED TO APPLY FOR APPROVAL OF VAT ZERO-RATING WITH THE BIR FOR TRANSACTIONS WITH THE REGISTERED EXPORT ENTERPRISES OF THE LOCAL PURCHASES OF GOODS AND SERVICES DIRECTLY AND EXCLUSIVELY USED IN THE REGISTERED PROJECT OR ACTIVITY. Revenue Regulations No. 2-2023, April 27, 2023
TAXABLE BASES IN APPLYING EXCISE TAX FOR AUTOMOBILES The BIR clarifies the provision of Section 5 of RMC No. 063-22 pertaining to the application of the three (3) primary taxable bases in applying the excise tax rates for automobiles RMC No. 32-2023 Taxable basis in applying the excise tax rates for
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
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
TO INCOME TAX, REGARDLESS THE EMPLOYMENT STATUS OF THE GRANTEE-EMPLOYEE WHO COULD BE A RANK-AND-FILE OR OCCUPYING A SUPERVISORY OR MANAGERIAL POSITION; TAX BASE IS THE FAIR MARKET VALUE; INCONSISTENT PROVISIONS OF RMC NO. 079-2014 ARE REPEALED. Revenue Regulations No. 13-2022, October 7, 2022 The BIR prescribes the guidelines, procedures and
BIR ANNOUNCES THE AVAILABILITY OF OFFLINE ELECTRONIC BUREAU OF INTERNAL REVENUE FORMS VERSION 7.9.3 Under RMC No. 131 dated September 28, 2022, the BIR announces the availability of Offline e-BIR Package Version 7.9.3 which is downloadable HERE. The new Offline eBIRForms Package has the following modifications: Additional Alphanumeric Tax Codes (ATCs) in BIR Form No. 0605 to be
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
FIELD AUDIT AND OTHER FIELD OPERATIONS ON ALL OUTSTANDING LETTERS OF AUTHORITY (LOA)/ AUDIT NOTICES AND LETTER NOTICES (LN) SHALL BE LIFTED PER INVESTIGATING OFFICE UPON APPROVAL OF THE COMMISSIONER OF INTERNAL REVENUE. (RMC No. 121-2022) The BIR prescribes the guidelines on the lifting of suspension of field audit and operations
BIR RULINGS Sale of house and lot under economic and low-cost housing project of a company duly registered with the Board of Investments under Executive Order (EO) No. 226 is exempt from income tax and creditable withholding tax on its income received directly in connection with the mentioned project. The tax
