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The Bureau of Internal Revenue (BIR) has addressed the questions and concerns of taxpayers and stakeholders on corporate income taxation in its Revenue Memorandum Circular (RMC) 62-2021 issued on May 17, 2021. The RMC clarifies BIR Revenue Regulations (RR) 5-2021.
The Bureau of Internal Revenue has issued Revenue Memorandum Circular (RMC) 63-2021 for the dissemination of the provisions under Republic Act 115171 or “An Act authorizing the President to expedite the processing and issuance of National and Local Permits, Licenses and Certifications in times of National Emergency.”
The Social Security System (SSS) has recently issued Circular 2021-005 to clarify the meaning and coverage of earnings declared of self-employed members in accordance with the implementation and intent of Section 19-A of the Social Security Act of 2018, otherwise known as Republic Act 11199.
The Social Security System (SSS) has released Circular 2021-004 in support of the digitalization of SSS benefit processes and in compliance with the zero-contact policy under Republic Act (R.A.) 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.
In its Revenue Memorandum Circular (RMC) 54-2021 released on April 27, 2021, the Bureau of Internal Revenue (BIR) clarified the rules on the submission of BIR Form 1709 or the Related Party Transactions (RPT) Form pursuant to the provisions of RR 19-2020, as amended by RR 34-2020.
On March 31, 2021, the Bureau of Internal Revenue (BIR) issued RMC No. 43-2021 which prescribes the revised guidelines on the use of the eAFS System for the submission of duly filed Income Tax Returns (ITR) and required attachments, including BIR Form 1709.
On April 5, 2021, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) 50-2021 which outlines the procedures for filing annual income tax returns considering the enactment of Republic Act 11534 or the Corporate Recovery and Tax Incentives for Enterprises (Create) Law. The RMC also announced the availability of the BIR’s Offline eBIRForms Package v7.9 which shall be utilized by users of the Electronic Filing and Payment System (EFPS) and non-EFPS filers.
On March 29, 2021, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) 41-2021 and Bank Bulletin (BB) 2021-06, both outlining the provision of tax reliefs in relation to the current surge of Covid-19 cases.
