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National Internal Revenue Code of 1997 5th Edition
For a policy to be effective, it must be supported by reliable infrastructure, clear communication, and consistent enforcement.
The Bureau of Internal Revenue (BIR) has issued Revenue Regulation (RR) No. 14-2025, amending specific provisions of RR No. 3-2025, particularly regarding the registration deadline for Non-Resident Digital Service Providers (NRDSPs).
In a significant step toward modernising the country's tax system, Republic Act (RA) No. 12023 was enacted in October 2024, introducing a 12% value-added tax (VAT) on digital services.
In this article, we’ll explore the key issues flagged by the BIR in an actual transfer pricing audit, how the taxpayer was able to address these findings, and what steps can be taken to prevent similar issues in the future.
The biggest concern is what China, whose tariff on its exports to the US is a whopping 145 percent, will do. Under such circumstance, US demand for and consumption of Chinese products will go down and thus create a significant production overcapacity in China.
Last April 25, 2025, the Bureau of Internal Revenue (BIR) revised the implementing rules and regulations of the law imposing Value-Added Tax (VAT) on Digital Services through Revenue Regulation (RR) 14-2025. To address certain issues in the implementation, the BIR subsequently issued Revenue Memorandum Circular (RMC) 47-2025 last May 8, 2025. This clarifies provisions involving Non-Resident Digital Service Providers (NRDSPs).
Risk management is not what it used to be. What was once a back-office checklist of compliance and controls is now a front-line player in a world of cyber threats, regulatory curveballs, and market shocks.
During the past weeks, the world was roiled by US President Trump’s issuance of an Executive Order levying what he calls “reciprocal tariffs” to practically all countries in the world, at varying rates.
