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Proprietary educational institutions, nonprofit hospitals taxed at 1% for a limited period
Tax Notes Proprietary educational institutions, nonprofit hospitals taxed at 1% for a limited period
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 13-2022, which reiterates the amendment on the tax treatment of nonprofit hospitals and proprietary educational institutions through Republic Act No. 11635, entitled “An Act Amending Section 27(B) of the National Internal Revenue Code of 1997, As Amended, and for Other Purposes”.
2 min read | 02 Feb 2022
BIR still accepts BIR Form 2316 without actual signature of the employee
Tax Notes BIR still accepts BIR Form 2316 without actual signature of the employee
Last January 17, 2022, the Bureau of Internal Revenue (BIR) has issued a tax advisory reiterating Revenue Memorandum Circular (RMC) No. 18-2021 that allows employer-taxpayers to submit to the BIR copies of Certificate of Compensation Payment/Tax Withheld for Compensation Payment With or Without Tax Withheld (BIR Form No. 2316) for the calendar year ended December 31, 2021, even without the signature of the concerned employee, provided that the BIR Form No. 2316 is duly signed by the authorized representative of the employer-taxpayer.
1 min read | 26 Jan 2022
Filing of returns, payment of taxes in areas under Alert Level 3, areas affected by Typhoon Odette
Tax Notes Filing of returns, payment of taxes in areas under Alert Level 3, areas affected by Typhoon Odette
The Bureau of Internal Revenue (BIR) has issued Bank Bulletin Nos. 2021-26 and 2022-01 to inform all Authorized Agent Banks (AABs) on the modified rules in filing and paying taxes. These relaxed rules are put in place to alleviate the concerns of the taxpayers brought about by Typhoon Odette followed by the rise of COVID-19 cases, which prompted the government to classify some areas in the Philippines under Alert Level 3.
1 min read | 19 Jan 2022
BIR deadlines extended in select RDOs due to Typhoon Odette
Tax Notes BIR deadlines extended in select RDOs due to Typhoon Odette
The Bureau of Internal Revenue (BIR) recently issued Revenue Regulation No. 22-2021 on December 24, 2021 which extended the deadline for (1) the filing of tax returns and corresponding attachments; (2) the payment of taxes due thereon; (3) the filing and processing of application for tax refund, including claims for Value-Added Tax (VAT) refund; and (4) the statutory period for the issuance of assessment notices and warrants of distraint and levy, for taxpayers within the jurisdiction of Revenue Regions (RRs) and Revenue District Offices (RDOs) of the BIR that were adversely affected by Typhoon Odette.
1 min read | 12 Jan 2022
Amendments on the IRR of the CREATE Act
Tax Notes Amendments on the IRR of the CREATE Act
The Bureau of Internal Revenue (BIR) outlined certain amendments on the Implementing Rules and Regulations (IRR) of Republic Act No. 11543 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act through Revenue Memorandum Circular (RMC) No. 120-2021.
Less than a minute | 05 Jan 2022
Clarifying the list of imported articles that no longer require ATRIG from the BIR prior to release from BOC
Tax Notes Clarifying the list of imported articles that no longer require ATRIG from the BIR prior to release from BOC
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 112-2021 on November 10, 2021 to address the issues and concerns in relation to the requirement of an Authority to Release Imported Goods (ATRIG) for the importation of perishable agricultural food products that are exempt from Value-Added Tax (VAT) under Section 109(1)(A) of the National Internal Revenue Code of 1997 (Tax Code), as amended.
1 min read | 29 Dec 2021
Revised BIR Form Nos. 1707 and 1707-A Version 2021 Now Available
Tax Notes Revised BIR Form Nos. 1707 and 1707-A Version 2021 Now Available
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 119-2021 to circularize the availability in the agency’s website of BIR Form No. 1707 (Capital Gains Tax Return for Onerous Transfer of Shares of Stock Not Traded through the Local Stock Exchange) and BIR Form No. 1707-A (Annual Capital Gains Tax Return for Onerous Transfer of Shares of Stock Not Traded through the Local Stock Exchange) which were revised due to the implementation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.
2 min read | 22 Dec 2021
Implementation of VAT zero-rating, exemption provisions for registered export enterprises under the CREATE Law
Tax Notes Implementation of VAT zero-rating, exemption provisions for registered export enterprises under the CREATE Law
REVENUE Regulation 21-2021 implements the VAT provisions under Republic Act (RA) 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. It specifically covers the rules on VAT exemption and VAT zero-rating of local purchases.
2 min read | 16 Dec 2021
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