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National Internal Revenue Code of 1997 5th Edition
The Bureau of Internal Revenue (BIR) has issued Revenue Regulations (RR) No. 19-2025 last August 5, 2025. This regulation implements key provisions of Republic Act No. 12214, also known as the “Capital Markets Efficiency Promotion Act” (CMEPA).
Over a year since the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circulars (RMC) Nos. 05-2024 and 38-2024, taxpayers continue to navigate the complexities that these twin issuances introduced in the taxation of cross-border services.
Since the Capital Markets Efficiency Promotion Act (CMEPA) took effect on July 1, 2025, a wave of social media posts has stirred public concern over a supposed “20% tax on savings”. Filipino netizens were alarmed by the misleading posts suggesting that their actual bank savings are now subject to a 20% tax, prompting widespread online reactions.
In a move to improve government efficiency and reduce red tape, the Securities and Exchange Commission (SEC) has issued Memorandum Circular No. 07, Series of 2025.
You’ve done it! You successfully got a client through the front door and delivered a great service.
Last July 1, 2025, the Capital Markets Efficiency Promotion Act (CMEPA), or Republic Act No. 12214, took effect.
In line with the Philippine government’s digital transformation initiatives and pursuant to Republic Act No. 12023 and its implementing rules, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 78-2025 on 29 July 2025.
The Philippines, being an archipelago in the Pacific Ring of Fire and a frequent target of tropical cyclones, faces recurring challenges from natural disasters.
