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Utilization of 5% Tax Credit Prescribed under PERA Act of 2008

28 Dec 2020

This Tax Alert is issued to inform all concerned on the following guidelines to utilize the 5% income tax credit on the actual PERA contribution:

Availment of Tax Amnesty on Delinquency and Voluntary Assessment and Payment Program extended until June 30, 2021

23 Dec 2020

This Tax Alert is issued to inform all concerned on the extended period to avail of the Tax Amnesty on Delinquencies (TAD) and Voluntary Assessment and Payment Program (VAPP), and clarifications on the availment of VAPP.

Submission of BIR Form 1709 and preparation of transfer pricing documentation required only for certain taxpayers

22 Dec 2020

This Tax Alert is issued to inform all concerned on the streamlined guidelines and procedures in the submission of BIR Form No. 1709 (Information Return on Related Party Transactions) and its required attachments including transfer pricing documentation (TPD).

Suspension of BIR audit and field operations from December 15, 2020 to January 7, 2021

15 Dec 2020

This Tax Alert is issued to inform all concerned on the suspension of field audit and field operations of the Bureau of Internal Revenue (BIR) starting December 15, 2020 until January 7, 2021 relative to examinations and verifications of taxpayers’ books of accounts, records and other transactions.

Clarifications and streamlined procedures in the issuance of Tax Residency Certificate by the BIR

15 Dec 2020

This Tax Alert is issued to inform all concerned on the streamlined procedures in the issuance of Tax Residency Certificate (TRC) by the Bureau of Internal Revenue (BIR) and other clarifications regarding the requirement of securing TRC by concerned taxpayers.