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Implementation of the Amendments introduced by EOPT Act on the Invoicing Requirements and Registration Procedures

19 Apr 2024

This Tax Alert is issued to inform all concerned on the rules and regulations to implement the amendments on invoicing requirements and registration procedures, pursuant to Republic Act No. 11976, also known as Ease of Paying Taxes (EOPT) Act.

Implementation of the amendments introduced by EOPT Act on VAT and Percentage Tax

17 Apr 2024

This Tax Alert is issued to inform all concerned on the implementing rules and regulations to implement the amendments on VAT and percentage tax pursuant to Republic Act No. 11976, also known as Ease of Paying Taxes (EOPT) Act.

Authorized Agent Banks (AABs) open on April 6 and 13, 2024 and extend banking hours to 5:00 P.M. for the period April 1-15, 2024 to accept tax returns/payments

04 Apr 2024

This Tax Alert is issued to inform all concerned taxpayers that in accordance with Memorandum of Agreement executed by the Authorized Agent Banks (AABs), Bureau of Internal Revenue (BIR), and the Bureau of the Treasury, AABs are open on two (2) consecutive Saturdays prior to April 15, i.e. April 6 and 13, and extend its banking hours from 3:00pm to 5:00pm for the period of April 1 to April 15, 2024 to accept tax returns/payments of internal revenue taxes.

Clarifications on the Issues Raised on the Proper Tax Treatment of Cross Border Services per Revenue Memorandum Circular No. 5-2024

21 Mar 2024

This Tax Alert is issued to inform all concerned on the clarifications on issues raised on the proper tax treatment of cross border services as provided in Revenue Memorandum Circular (RMC) No. 5-2024, in light of the Supreme Court en Banc Decision in Aces Philippines Cellular Satellite Corp. v. CIR, GR No. 226680, dated August 30, 2022.

Minimum Corporate Income Tax (MCIT) Rates for Taxable Years ending from July 31, 2023 to June 30, 2024

14 Mar 2024

This Tax Alert is issued to inform all concerned on the applicable MCIT rate for the accounting periods ending from July 31, 2023 to June 30, 2024, pursuant to Republic Act No. 11534, otherwise known as the “Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act”.