Tax Alerts
BIR ITS maintenance
BIR has issued an advisory requesting taxpayers to transact their businesses with BIR before Dec 12 to avoid any inconvenience resulting from the Intergrated Tax System downtime.
Suspension of Audit Activities
All field operations relating to BIR tax audits shall be suspended beginning December 16, 2014 to January 4, 2015, except in the following cases:
Tax treatment of Stock Option Plans and other Option Plans
RMC 79-2014 summarized and clarified the tax treatment of stock options plans and other option plans and imposed compliance requirement for corporations issuing stock options.
Further extension of application period for accreditation of importers
Importers and customs brokers with valid and existing accreditation will have an extended period up to July 31, 2014 to file their application for accreditation.
Extension of application period for accreditation
The application period for importers and brokers with valid and existing accreditation has been extended until June 30, 2014, or the original expiration of their Bureau of Customs (BOC) accreditation, whichever comes earlier.