The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 109-2024, clarifying the types of checks accepted in payment for One-Time Transaction (ONETT)—related internal revenue taxes, pursuant to Revenue Memorandum Order (RMO) No. 49-2018, as amended.
Last October 2, 2024, President Marcos signed into law Republic Act (RA) No. 12023 or the Value Added Tax (VAT) on Digital Services Law which imposes a 12% VAT on digital service providers (DSPs).
In line with the implementing rules of the Ease of Paying Taxes (EOPT) Act intending to streamline the procedure and promote fairness across business sizes, the Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Order No. 37-2020 last September 4, 2024, to publish procedures and guidelines in taxpayer classification.
In order to ensure timely and complete tax payments pursuant to Executive Order (EO) No. 398, series of 2005, and Republic Act (RA) No. 9184, also known as the Government Procurement Reform Act, the Bureau of Internal Revenue (BIR) has issued Revenue Regulations (RR) No. 17-2024.
In an effort to help businesses restore good standing, the Securities and Exchange Commission (SEC) introduced its Amnesty Program in 2023, with over 81,700 companies participating and successfully complying with their reportorial requirements.
The global economy has undergone a rapid digital transformation, with more transactions shifting the venue from physical stores to online platforms.
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 91-2024, which aims to provide clarifications and guidelines on the registration procedures in line with Revenue Regulations No. 7-2024 and 11-2024 under the Ease of Paying Taxes (EOPT) Act.
The Revenue Memorandum Circular (RMC) No. 87-2024 aims to provide clarity on the filing of tax returns and payment of taxes under Section 3 of Revenue Regulations (RR) No. 4-2024, which implements the "Ease of Paying Taxes (EOPT) Act."
