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National Internal Revenue Code of 1997 5th Edition
A common issue for corporations holding proprietary club shares through officer-nominees is establishing that transfers such shares are not subject to Capital Gains Tax (CGT), Documentary Stamp Tax (DST), or Donor's Tax. Since proprietary club memberships are typically required to be registered in the name of a natural person, corporations often designate officers as nominees or trustees.
One of the most overlooked assets on a company's balance sheet is an unutilized Value Added Tax (VAT) input balance. For export-oriented businesses and other taxpayers entitled to VAT refunds, these amounts can represent significant cash recovery opportunities.
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 71-2026, clarifying the extended validity of Certificates of Compliance (COC) for cooperatives applying for a Certificate of Tax Exemption (CTE) in line with the extension granted by the Cooperative Development Authority (CDA) under Memorandum Circular No. 2026-07, Series of 2026.
The BIR’s move toward digital taxation is not merely changing how transactions are reported. It is placing greater visibility on how both businesses and regulators capture, process, and manage information.
The Bureau of Internal Revenue (BIR) has issued Revenue Regulation (RR) No. 4-2026, which establishes a one-time tax abatement program for qualified micro taxpayers.
Internal audit is no longer limited to providing assurance on past activities. It has evolved into a trusted advisor that helps organisations navigate uncertainty and respond proactively to emerging risks.
Rising electricity costs have once again become a pressing issue for households and businesses across the Philippines.
Due to the recent earthquake in Sarangani and nearby provinces, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) 0622026, June 9, 2026, extending the deadline for the filing of tax returns, submission of attachments, and payment of the corresponding taxes on June 30, 2026.
