Submission of Certificate of Entitlement to Incentives (CETI) as attachment to Registered Business Enterprise’s annual ITR

18 Mar 2022

This Tax Alert is issued to inform all concerned on the submission of Certificate of Entitlement to Tax Incentives (CETI) in lieu of the former Certificate for Entitle to Income Tax Holiday (ITH) to the Bureau of Internal Revenue (BIR).

New list of additional and delisted Top Withholding Agents now available

18 Mar 2022

This Tax Alert is issued to inform all concerned on the latest published lists of additional and delisted Top Withholding Agents (TWAs) who are required to deduct and remit the one percent (1%) or two percent (2%) creditable/expanded withholding tax (CWT) from the income payments to suppliers of goods and services, respectively.

Clarifications on the VAT rules for Registered Business Enterprises (RBEs) under the CREATE Law

16 Mar 2022

This Tax Alert is issued to inform all concerned on the clarifications on the VAT rules applicable to Registered Business Enterprises (RBEs) pursuant to Revenue Regulations No. 21-2021, implementing Sections 106 and 108 of the Tax Code, in relation to Sections 294(E) and 295(D), Title XIII of the Tax Code as introduced by Republic Act No. 11534, also known as the CREATE Act and its Implementing Rules and Regulations.

Suspension of income tax incentives of RBEs for violating WFH threshold/guidelines prescribed by FIRB

10 Mar 2022

This Tax Alert is issued to inform all concerned on the possible suspension of income tax incentives granted to Registered Business Enterprises (RBEs) in the IT-BPM sector for violating Work-From-Home (WFH) threshold requirements and conditions prescribed by the Fiscal Incentives Review Board (FIRB) in FIRB Resolution Nos. 19-21 and 23-21.

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.