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Work-around procedures on reporting of input VAT on purchases or importations of capital goods in the VAT returns

03 Mar 2022

This Tax Alert is issued to inform all concerned on the workaround procedures in claiming of input VAT on purchases or importations of capital goods in the Monthly VAT declaration (BIR Form 2550M) and Quarterly VAT declaration (BIR Form 2550Q) pursuant to the provisions of Tax Reform for Acceleration Law (TRAIN Law) or Republic Act No. 10963.

Clarifications on filing of Request for Confirmation, Tax Treaty Relief Applications and tax sparing applications

03 Mar 2022

This Tax Alert is issued to inform all concerned on the clarifications and guidance in filing of Requests for Confirmation (RFC), Tax Treaty Relief Applications (TTRA) and Tax Sparing Applications.

Clarifications and guidelines on tax-free exchanges of properties under Section 40 (C)(2) of the Tax Code, as amended by CREATE

14 Feb 2022

This Tax Alert is issued to inform all concerned on the clarifications and guidance on tax-free exchanges of properties under Section 40 (C)(2) of the Tax Code of 1997, as amended by Republic Act No. 11534 (CREATE Act).

Clarifications on the extended statutory deadlines due to declaration of Alert 3 or higher in certain areas

04 Feb 2022

This Tax Alert is issued to inform all concerned on the following clarifications on extended statutory deadlines for taxpayers within the jurisdictions classified under Alert Level 3 or higher for the month of January 2022:

Statutory deadlines falling due during the period of Alert Level 3 or higher extended for 30 calendar days for affected taxpayers; out-of-district filing allowed

28 Jan 2022

This Tax Alert is issued to inform all concerned on the extended statutory deadlines for taxpayers within the jurisdiction of Revenue Regions (RR) and Revenue District Offices (RDO) of the Bureau of Internal Revenue classified under Alert Level 3 or higher. Out-of-district filing and payment of taxes are also allowed.