Alerts and Publications
Alerts and Publications
Documentation for deductibility
Pursuant to Section 8 of Revenue Regulations 13-98, taxpayers claiming donations as deduction from gross income in computing the income tax, must present to the BIR the Certificate of Donation indicating the actual receipt and date of donation and the amount of cash, or acquisition cost if in property
Mandatory eFPS coverage for accredited importers and TAMP taxpayers
The mandatory coverage of the eFPS has been expanded to include the following:
BIR ITS maintenance
BIR has issued an advisory requesting taxpayers to transact their businesses with BIR before Dec 12 to avoid any inconvenience resulting from the Intergrated Tax System downtime.
Suspension of Audit Activities
All field operations relating to BIR tax audits shall be suspended beginning December 16, 2014 to January 4, 2015, except in the following cases:
Tax treatment of Stock Option Plans and other Option Plans
RMC 79-2014 summarized and clarified the tax treatment of stock options plans and other option plans and imposed compliance requirement for corporations issuing stock options.