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Implementation of penalty provisions under TRAIN Law

06 Jul 2021

This Tax Alert is issued to inform all concerned on the implementation of the penalty provisions under Sections 76, 77, 78, 79 and 80 of Republic Act (RA) No. 10963 (TRAIN Law), amending Sections 254 and 264 of, and adding Sections 264-A, 264-B and 265-A to, the National Internal Revenue Code (NIRC) of 1997, as amended.

Clarifications on the revised guidelines and procedures for availing tax treaty benefits

25 Jun 2021

This Tax Alert is issued to inform all concerned taxpayers on the significant clarifications on the revised guidelines and procedures for availing tax treaty benefits provided under Revenue Memorandum Order (RMO) No. 14-2021.

VAT zero-rated transactions now subject to 12% VAT

15 Jun 2021

This Tax Alert is issued to inform all concerned on the amendments to Revenue Regulations (RR) No. 16-05, as amended by RR No. 13-18 and RR 26-18, imposing 12% VAT on certain transactions previously subject to 0% VAT upon satisfaction of certain conditions provided under Republic Act No. 10963, also known as the TRAIN Law.

VAT exemption threshold on sale of house and lot, and other residential dwellings updated to P3,199,200; Importation of certain goods to fight COVID-19 exempt from ATRIG; Update rules on refund of overpaid percentage tax

15 Jun 2021

This Tax Alert is issued to inform all concerned on the amendments to the Revenue Regulations No. 04-2021 which provides for the implementing rules and regulations of the value added tax (VAT) and percentage tax provisions of Republic Act No. 11534, also known as Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.

Guidelines and clarifications on the temporary reduction of percentage tax rate for the period from July 1, 2020 to June 30, 2023

26 May 2021

This Tax Alert is issued to inform all concerned taxpayers on the guidelines in filing and clarifications relative to the temporary reduction of percentage tax on persons exempt from VAT pursuant to Republic Act No. 11534, also known as Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, as implemented by Revenue Regulations (RR) No. 4-2021.