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SUPERVISORY OR MANAGERIAL POSITION; TAX BASE IS THE FAIR MARKET VALUE; INCONSISTENT PROVISIONS OF RMC NO. 079-2014 ARE REPEALED.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
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
IMPLEMENTING THE PROVISIONS OF THE REPUBLIC ACT (RA) 11635, ENTITLED “AN ACT AMENDING SECTION 27 (B) OF THE NATIONAL INTERNAL REVENUE CODE OF 1997 AS AMENDED, AND FOR OTHER PURPOSES” ON THE INCOME TAXATION OF PROPRIETARY EDUCATIONAL INSTITUTIONS AND HOSPITALS WHICH ARE NON-PROFIT (Revenue Regulations No. 3-2022, April 7, 2022) The
CLARIFYING THE PROPER TAXABLE BASE OF EXCISE TAX IN THE MANUFACTURER’S/ASSEMBLER’S OR IMPORTER’S SWORN STATEMENT AND INTEGRATION OF THE MONITORING, SUPERVISION AND REPORTING OF EXCISABLE PRODUCTS UNDER REVENUE ADMINISTRATIVE ORDER (RAO) NO. 2-2014 (Revenue Memorandum Circular No. 63-2022, April 28, 2022) Rates and Bases of the Ad Valorem Tax on
