Filter insights by:
Stay ahead and check tax and other reportorial deadlines with our comprehensive digital calendar! Gain quick access to key filing dates and deadlines in one convenient platform—helping you stay organised, compliant, and confident throughout the year.
National Internal Revenue Code of 1997 5th Edition
The transfer pricing compliance requirements introduced by the Bureau of Internal Revenue (BIR) in July 2020 are believed to be game-changers for taxpayers to ensure that their transactions with their related parties are planned, executed, and carried out in the same manner as dealing with independent third parties — what is called the “arm’s-length principle” or ALP.
The Bureau of Internal Revenue (BIR) has addressed the questions and concerns of taxpayers and stakeholders on corporate income taxation in its Revenue Memorandum Circular (RMC) 62-2021 issued on May 17, 2021. The RMC clarifies BIR Revenue Regulations (RR) 5-2021.
With the rapidly changing technology and the constantly changing needs of today’s learners, the traditional face-to-face approach is swiftly losing its significance and becoming less feasible in the new normal.
On April 8, the Bureau of Internal Revenue (BIR) released Revenue Regulations (RR) No. 5-2021 which implements certain provisions of the Corporate Recovery and Tax Incentives for Enterprise (CREATE) Act. It particularly implements the new Corporate Income Tax (CIT) rates, new income tax rates on certain passive incomes, and additional deductions from gross income of corporations and sole proprietors.
THE BUREAU of Internal Revenue’s (BIR) Revenue Regulations (RR) and other issuances on transfer pricing (TP) are relatively evolving. In 2013, the BIR issued RR No. 2-2013 which outlines Philippine transfer pricing regulations and the guidelines in applying the arm’s length principle for cross-border and domestic transactions between related parties.
Several sectors of the Philippine economy are still grappling with the effects of the coronavirus disease 2019 (Covid-19) pandemic. While e-commerce providers continue to gain ground during the new normal because of the nature of their services, other industries like travel and retail are still addressing challenges following the onset of the global health contagion.
The Bureau of Internal Revenue has issued Revenue Memorandum Circular (RMC) 63-2021 for the dissemination of the provisions under Republic Act 115171 or “An Act authorizing the President to expedite the processing and issuance of National and Local Permits, Licenses and Certifications in times of National Emergency.”
Filipinos have grown accustomed to celebrating festivities. However, things changed when the pandemic set in. Towards the close of the first half, it seems many celebrations have been called off due to safety concerns and travel restrictions. Without the pandemic, many would have been busy preparing for the Flores de Mayo and the Santacruzan.
