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The Bureau of Internal Revenue (BIR) recently issued Revenue Regulations (RR) No. 10-2022, which lays out the guidelines and procedures for requesting MAP assistance in the Philippines. This opens an alternative remedy for taxpayers facing double taxation, whose current available courses of actions are only to litigate such case in court or to file an administrative appeal.

In the world of intercompany transactions between domestic corporations or among members of multinational companies (MNCs), a transfer pricing (TP) policy is a must-have document.

In our present era, the BIR is likewise continuing to go digital to cope with the changing times. For one, at the beginning of this year, the Calendar Year 2022 BIR Priority Programs and Projects included the Digital Economy Policy. Under this project, the BIR intends to align tax rules and regulations to capture the digital economy. Included also in the said priorities of the BIR were the re-architecture and development of the filing system/facility, and the enhancement of the quality of tax administration and the delivery of taxpayer services through a Taxpayer Registration Database Management System, among others.

Due to health concerns posed by the COVID-19 pandemic, schools were prohibited from conducting face-to-face classes and subsequently shifted to other means such as online classes or modular distance learning. Early this year, the Department of Education (DepEd) commenced the progressive expansion phase, where selected public and private schools were allowed to conduct limited face-to-face classes. Considering that the number of recent daily cases significantly decreased compared with those recorded during the previous years, the authorities are now eyeing the resumption of full face-to-face classes for the upcoming School Year 2022-23.

Four hundred and twenty-five days after the effectivity of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act or Republic Act (RA) No. 11534 on April 11, 2021, one question still lingers among the registered business enterprises (RBEs) from the country’s nineteen Investment Promotion Agencies (IPAs): How can RBEs maximize their fiscal and non-fiscal incentives under the new tax rules and evolving market environment?

According to recent news reports, the inflation rate for May 2022 is at 5.4%, the highest recorded inflation rate since December 2018. To boot, last month, there were also talks about the possibility of postponing the individual income tax cuts supposedly scheduled starting 2023 as provided under the Tax Reform for Acceleration and Inclusion (TRAIN) Act. These scenarios would certainly trigger taxpayers into thinking about these events’ consequent impact to them. Definitely, these taxpayers include the millions of employees in the Philippines who may be worried about their take home pay vis-à-vis the rising prices of goods and services.

Cambridge Dictionary defines a “task force” as a group of people brought together to do a particular job. The term may be familiar relative to the Covid-19 pandemic when the government created the Inter-Agency Task Force (IATF) composed of members from various executive departments, supposedly for a collaborative approach to combating Covid-19.

Have you been audited by the BIR and your claimed expense was disallowed for improper or inadequate substantiation? Have you applied for a tax refund, and were denied due to an erroneous invoice or receipt? This is not unusual given the state of our tax documentation and compliance. With the advent of the government requirement to use electronic receipts and invoices, we can only hope that these long-running challenges become a thing of the past.