THE Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Circular (RMC) 85-2018, clarifying the number of electronic certificates authorizing registration (eCARs) to be issued to taxpayers who submitted documents for transfer of real properties with the Land Registration Authority under an extrajudicial settlement.
WITH the approval of the Tax Reform for Acceleration and Inclusion (Train) Law, the Bureau of Internal Revenue (BIR) issued Revenue Regulation (RR) 21-2018 to clarify the rate and type of interest in a tax assessment.
PAG-IBIG memberships are classified into two categories: Pag-ibig Membership I under mandatory membership and Pag-ibig Membership II under voluntary membership.
The prices of basic goods have increased steadily since the start of the year.
IN response to the enacted Tax Reform for Acceleration and Inclusion (TRAIN) Law, the Bureau of Internal Revenue issued Revenue Memorandum Order No. 29-2018 on May 11, 2018, creating Alphanumeric Tax Codes (ATCs) to properly identify and monitor tax collections from selected revenue sources under excise tax.
TO better serve the public, the Bureau of Internal Revenue (BIR) announced it has created a fast lane for one-time, simple transactions. Revenue Memorandum Circular (RMC) No. 43-2018 issued last May 18 states that the fast lane caters to individuals or corporations filing capital gains tax or donor’s tax returns with only one deed of sale, exchange, or donation involving one to three properties.
THE Bureau of Internal Revenue (BIR) issued a tax advisory amending the provisions on filing the excise tax on cosmetic procedures. Effective May 18, excise taxpayers must use BIR Form No. 0605 – Payment Form, indicating alphanumeric tax code (ATC) “XC010” and Tax Type “XC.” BIR Form No. 1620-XC Final Withholding Tax of Excise Tax on Cosmetic Procedures as prescribed under Revenue Memorandum Order (RMO) No. 9-2018 will be replaced by BIR Form 2200-C.
IN line with implementing Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) Act, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Order (RMO) No. 23-2018 on May 21 prescribing the policies, guidelines and procedures for availing of eight percent income tax rate option for individuals earning from self-employment, business, and/or practice of profession. The RMO takes effect immediately.
