Be updated on our latest insights

In order to align with the Citizen's Charter 2023 Edition, the Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular No. 23-2023, which provides amended guidelines on Classification of One-Time Transactions (ONETT) and the corresponding processing time for the issuance of ONETT Computation Sheet (OCS) and Electronic Certificate Authorizing Registration (eCAR).

The Fiscal Incentives Review Board (FIRB) recently promulgated Administrative Order No. 001-2023 stating the additional guidelines for Registered Business Enterprises (RBEs) in the IT-BPM sector that have successfully registered with the Board of Investments (BOI) last January 31, 2023. The covered RBEs that were issued the BOI – Certificate of Registration (BOI-COR) are mandated to comply with the following:

Taxpayers are now required to register their books of accounts through the BIR’s Online Registration and Update System (ORUS). The following guidelines shall be observed in the online registration of books of accounts.

The Bureau of Internal Revenue (BIR) is on its way to complete its digitalization roadmap with the release of more updates to its Online Registration and Update System (ORUS). Through the issuance of Revenue Memorandum Circular (RMC) No. 12-2023 last January 27, 2023, the BIR introduced the additional features to the ORUS.

The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular No. 7-2023, which provides guidelines on Return Processing System (RPS) assessments, identifying all tax returns that are:

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.