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On 10 December 2024, the Department of Finance approved and issued the Implementing Rules and Regulations (IRR) of Republic Act No. 12001, otherwise known as the Real Property Valuation and Assessment Reform Act (RPVARA).

In today's interconnected world, international travel has evolved beyond mere sightseeing. Shopping has become a significant driver in influencing traveler choices and significantly impacting destination economies.

今回はフィリピンでの移転価格税制の現状とBIRの移転価格調査への動向について紹介します。 まずは現時点までに公表されている移転価格税制の変遷を振り返り、その後直近のBIRの取り組み、移転価格リスクや企業のコンプライアンス対応の状況について順に解説します。

The Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 01-2025 on January 6, 2025, to revise the guidelines and procedures for processing excise tax exemption requests for hybrid and purely electric vehicles.

A new year has come and with it is the optimism to step into a new chapter, discover opportunities and embrace what’s coming ahead. Often, the thought of changing for the better is what resonates not only within individuals but within government systems as well.

Traditionally, the Bureau of Internal Revenue (BIR) inventory list is associated with taxpayers in manufacturing and retail businesses, where inventories form part of the cost of goods sold, which is a critical component of major deductions in the income tax return.

The Philippines has taken a step to boost tourism and enhance the shopping experience for international visitors through Republic Act (RA) No. 12079. This new law allows non-resident foreign tourists to claim a refund on the Value-Added Tax (VAT) they pay when purchasing goods in the country.

Every new year is a new chapter to embrace the graces and challenges life brings, which gives us opportunities to make a significant journey that will hopefully inspire others