CLARIFYING THE FILING AND PAYMENT DATE OF THE FRANCHISE TAX AND ITS CORRESPONDING RETURN FOR PAGCOR LICENSEES UNDER RMC NO. 32-2022 (Revenue Memorandum Circular No. 52-2022, April 22, 2022) 5% franchise tax is directly payable to BIR using BIR form 2553 with the ATC of OT 010. The said BIR
CLARIFICATION ON TAX DEADLINE FOR FILING OF ANNUAL INCOME TAX RETURNS (AITR) FOR TAXABLE YEAR ENDING DECEMBER 31, 2021 (Revenue Memorandum Circular No. 42-2022, April 12, 2022) The deadline for filing of Annual Income Tax Return (AITR) as well as the payment is on or before 18 April 2022 (Monday) since
RMC No. 24-2022 clarifying issues relative to RR No. 21-2021 implementing the amendments to the Value-Added Tax (VAT) zero rating provisions under Sections 106 and 108 of the National Internal Revenue Code of 1997 (Tax Code), in relation to Sections 294(E) and 295(D), Title XIII of the Tax Code, introduced
THE BIR PROVIDES TAX COMPLIANCE REMINDERS FOR THE MAY 9, 2022 NATIONAL AND LOCAL ELECTIONS (Revenue Memorandum Circular No. 22-2022, February 21, 2022) BIR REGISTRATION All candidates, political parties/party list groups and campaign contributors, are required to register with the BIR, issue official receipts and withhold taxes. The registration shall
PRESCRIBES THE GUIDELINES IN THE CLAIM OF INPUT VAT ON PURCHASES OR IMPORTATIONS OF CAPITAL GOODS PURSUANT TO SECTION 110 OF THE TAX CODE, AS AMENDED BY RA NO. 10963 (TRAIN LAW) (Revenue Memorandum Circular No. 21-2022, February 21, 2022) Claim of Input VAT on Purchases or Importations of Capital Goods
GUIDANCE ON THE FILING OF REQUEST FOR CONFIRMATION, TAX TREATY RELIEF APPLICATIONS AND TAX SPARING APPLICATIONS (Revenue Memorandum Circular No. 20-2022, February 17, 2022) Taxpayers already issued with Certificate of Entitlement to Treaty Benefit (“COE”), with the tenor thereof allowing the ruling to be applied to subsequent or future income payments,
BIR RULINGS To be classified as capital assets for taxation purposes the property must be not actually used in trade or business of the taxpayer, whether or not connected with his trade or business, or not held for lease or sale of customers. Also, if the property is merely held
The SEC prescribes guidelines in Preventing the Misuse of Corporations for Illicit Activities through Measures Designed to Promote Transparency of Beneficial Ownership. The SEC provides among others: Issuance, sale or offer of bearer shares and bearer share warrants are prohibited. Sale/transfer of shares of stock shall be disclosed and recorded
The BIR further amends Revenue Regulations No. 4-2019, as amended, by extending the period of availment of Tax Amnesty on Delinquencies until June 30, 2021. This applies to all persons, whether natural or juridical, with internal revenue tax liabilities covering taxable year 2017 and prior years. The date may be
Update: In general, all persons, natural and juridical, including estates and trusts, are qualified to avail of the VAPP. The VAPP covers calendar year 2018 and fiscal year 2018 ending in July, August, September, October, and November 2018, as well as those ending in January, February, March, April, May
