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Stay ahead and check tax and other reportorial deadlines with our comprehensive digital calendar! Gain quick access to key filing dates and deadlines in one convenient platform—helping you stay organised, compliant, and confident throughout the year.
National Internal Revenue Code of 1997 5th Edition
The paradigm has shifted; today, branding is no longer about simply distinguishing your business, goods, or service from your competitors. Rather, it is a strategic imperative that enhances and supports all aspects of your business, creating an identity of its own as we move into a globalized landscape.
One of the major propellers of modern-day Philippine tax reforms is Republic Act No. 10963, otherwise known as the Tax Reform for Acceleration and Inclusion (TRAIN) Law, signed by then President Duterte in December 2017 and taking effect on January 1, 2018. TRAIN Law’s promises and objectives were multifaceted.
Publication of BIR issuances is an important aspect of the regulatory framework governing taxation. It supports a fair and transparent approach in making the public aware of the new tax rules and regulations.
A few days ago, I received a frantic call from a relative asking for tax advice. She has decided to start her medical practice, something she has always dreamed of and has now excitedly embarked on. She consulted an accountant and is in the process of signing the retainer.
In a bid to inform the public, particularly taxpayers who have filed One-Time Transaction (ONETT) applications via the eONETT System and intend to manually pay the tax dues thereon to any Authorized Agent Banks (AABs) or Revenue Collection Officers (RCOs), the Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 83-2024 on July 30, 2024.
As clarified by the Bureau of Internal Revenue (BIR), Diaz’s government winnings and gifts from private individuals and corporations are excluded from income taxes under Section 32(B)(7)(d) of the Tax Code.
Have you ever purchased something and ended up paying too much for it, only to find out that the retailer won't refund the difference? How do you feel about being stuck with the extra cost? Thankfully, that is not the case for taxpayers with excess creditable withholding taxes (CWT).
Pursuant to Revenue Regulation (RR) No. 16-2023, the Bureau of Internal Revenue (BIR) has required electronic marketplace (e-marketplace) operators and digital financial services providers (DFSP) to withhold a 1% withholding tax on 1/2 of their gross remittances to sellers or merchants for goods and services sold through their platforms or facilities.
