Under the Tax Reform for Acceleration and Inclusion (TRAIN) Law and Revenue Memorandum Circular (RMC) No. 5-2023, VAT-registered taxpayers are no longer required to file monthly VAT returns (BIR Form No. 2550M) pertaining to transactions that occurred beginning January 1, 2023.
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 3- 2023 to amend Section 2 of RMC No. 19-2019, which provides that all books of accounts shall be registered online through the BIR’s Online Registration and Update System (ORUS) facility. A Quick Response (QR) code will be generated as proof of registration.
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 152-2022 to provide clarifications and guidelines on the implementation of certain provisions in Revenue Regulations (RR) No. 21-2021 and RMC Nos. 24-2022 and 49-2022 regarding the revised value-added tax (VAT) rules for Registered Export Enterprises (REEs) under the CREATE Law.
The BIR Online Registration and Update System (ORUS) is already available in the BIR wWebsite (www.bir.gov.ph) under the eServices icon or through the link https://orus.bir.gov.ph is already available.
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Order (RMO) No. 55-2022 dated December 15, 2022, to inform the public of the suspension of all field audit and other field operations of the BIR relative to examinations and verifications of taxpayers’ books of accounts, records, and other transactions from December 16, 2022, to January 8, 2023.
The Bureau of Internal Revenue (BIR) has issued Revenue Regulation (RR) No. 15-2022 to inform all concerned regarding the amendment of the creditable withholding rates of income payments to MERALCO.
As we take on the last month of 2022 and embrace a new year, a fresh set of tax updates is also coming our way. In 2023, we will see various changes in our tax system brought by the Tax Reform for Acceleration and Inclusion (TRAIN) Law under the Comprehensive Tax Reform Program.
As noted in Revenue Memorandum Circular (RMC) No. 146-2022 dated November 10, 2022, the Bureau of Internal Revenue (BIR) has announced the launch of the improved BIR Digital Assistant Chatbot REVIE, which now features TIN Verification/Validation, RDO Finder, and eComplaint Facility.
