The Bureau of Internal Revenue recently issued Revenue Regulation 32 and 33 to inform all concerned on the extended period to avail of the Tax Amnesty on Delinquencies (TAD) and Voluntary Assessment and Payment Program (VAPP), and clarifications on the availment of the VAPP.
On Dec. 22, 2020, the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) 34-2020 to inform all concerned on the streamlined guidelines and procedures in the submission of BIR Form 1709 (Information Return on Related Party Transactions) and its required attachments including transfer pricing documentation (TPD).
THE BIR issues Revenue Memorandum Circular 130-2020 wherein it prescribes the policies and guidelines in the conduct of online meetings/ conferences with taxpayers.
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) 127-2020 to inform all concerned on the suspension of all field audit and other field operations of the BIR with respect to the conduct of examinations and verifications of taxpayers’ books of accounts, records and other transactions for the period Dec. 15, 2020 to Jan. 7, 2021.
ON NOVEMBER 27, 2020, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) 125-2020 to inform the public on the availability of the new BIR Form 1601-C (Monthly Return of Income Taxes Withheld on Compensation) January 2018 (ENCS) in the Electronic and Payment System (eFPS).
On Oct. 6, 2020, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) 110-2020, which provides detailed guidelines on the proper modes of service of an electronic Letter of Authority (eLA).
THE Securities and Exchange Commission (SEC) issued SEC Memorandum Circular (MC) 31-2020 to forego the imposition of fines and other monetary penalties for non-filing, late filing, and failure to comply with compulsory notification and other reportorial requirements, to align with the Bayanihan Act 2.
IN LINE with the Securities and Exchange Commission’s (SEC) development and implementation of an electronic filing and monitoring system, the SEC has released Memorandum Circular (MC) 28-2020 that requires companies to provide their official electronic mail (e-mail) address and mobile phone numbers which will be used for communication, submission and other transactions with the SEC.
