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National Internal Revenue Code of 1997 5th Edition
The Bureau of Internal Revenue (BIR) circulated Republic Act No. 12214, otherwise known as the Capital Markets Efficiency Promotion Act (CMEPA), through Revenue Memorandum Circular No. 60-2025.
The Philippines is no stranger to extreme weather events. In recent days, multiple storms and the intensified southwest monsoon or “habagat” have brought relentless rains, flooding, and disruption across the country.
As the Philippines reels from the successive landfalls of Typhoons Crising, Dante, and Emong, and the relentless southwest monsoon (Habagat), businesses across the archipelago are once again reminded of nature’s unforgiving power.
In response to the amendments introduced under Republic Act (RA) No. 12066, otherwise known as the CREATE MORE Act, the Bureau of Internal Revenue (BIR) has released Revenue Memorandum Circular (RMC) No. 71-2025, which prescribes a revised format for the Value Added Tax (VAT) Zero-Rating Certificate, that shall be issued by investment promotion agencies (IPAs) to registered business enterprises (RBEs).
A year ago, I wrote an article about updates on Certificate Authorizing Registration (CAR) applications in relation to the Ease of Paying Taxes Law (EoPT).
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular No. 65-2025 to provide clear guidance on the types of Books of Accounts that may be registered by new business taxpayers during the registration process.
Adding to the wealth of jurisprudence in interpreting the two-year prescriptive period, the Supreme Court (or the “Court”) revisited the interpretation of the two-year prescriptive period for tax refund claims under Section 229 of the National Internal Revenue Code, as amended (or “Tax Code”) in its decision in G.R. No. 271261.
A quarterly publication of P&A Grant Thornton Solutions, Inc. that aims to keep the company's clientele, as well as the general public, informed of various developments in outsourcing, compensation, and other related matters.