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THE Commissioner of Internal Revenue has issued Revenue Memorandum Circular (RMC) 143-2019 on Dec. 27, 2019, clarifying the inclusion of taxpayers as Top Withholding Agents (TWAs) who are obliged to remit the one percent and two percent Creditable Withholding Taxes (CWTs) under the criteria of Revenue Regulations (RR) 7-2019.

AFTER several discussions with and petitions from different labor unions in Central Visayas, the Department of Labor and Employment–Regional Tripartite Wages and Productivity Board VII has issued Wage Order ROVII-22 on Nov. 26, 2019 to raise the minimum wage rate across the region.

THE Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) 134-2019, announcing the availability of the revised BIR Form 1702-EX (Annual Income Tax Return for Corporation, Partnership and Other Non-Individual Taxpayer EXEMPT under the Tax Code, as Amended, [Sec. 30 and those exempted in Sec 27(C) and Other Special Laws, with NO Other Taxable Income]) January 2018 (ENCS) version 2.

IN RESPONSE to the numerous requests from withholding agents, the Bureau of Internal Revenue (BIR) has released Revenue Memorandum Circular (RMC) 121-2019 as a reminder that the following computer/system-generated BIR certificates are allowed:

THE Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 124-2019, extending the deadline for submitting the Annual Information Returns of Income Taxes Withheld on Compensation (BIR Form No. 1604-C) and Final Withholding Taxes (BIR Form No. 1604-F) from Jan. 31, 2020 to Feb. 28, 2020.

THE Bureau of Internal Revenue has issued Revenue Regulations (RR) 10-2019 on Dec. 2, 2019, mandating all commercial establishments to use the new format for Notice to Issue Receipts/Invoices.

THE Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Circular (RMC) 122-2019, further clarifying that the submission of Semestral List of regular Suppliers (SRS) has been terminated. The BIR added that the information found under the SRS is already found in the quarterly Alphalist of Payees (formerly the monthly Alphalist of Payees) and in the annual Alphalist of Payees.

IN CONNECTION with section 4C of Bureau of Internal Revenue (BIR) Revenue Regulations (RR) 8-2018, which provides that, “All concerned employees of regional or area headquarters and regional operating headquarters of multinational companies, offshore banking units and petroleum service contractor and subcontractor shall be subject to the regular tax rate,” the BIR issued Revenue Memorandum Circular (RMC) 116-2019 on Oct. 18, 2019.