REPUBLIC Act No. 9505, otherwise known as the “Personal Equity and Retirement Account (PERA) Act of 2008,” provides taxpayers an opportunity to save for their retirement while saving on taxes. Under the law, any employed or self-employed individual is allowed to set up his own PERA, which enjoys certain tax incentives.
HE Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 27-2017 which clarifies the tax base on the sale
REVIOUSLY, the availment of tax treaty benefits for dividend, interest and royalty income of non-residents requires the filing of a tax treaty relief application (TTRA) with BIR.
PREVIOUSLY, third party information such as Reconciliation of Listing for Enforcement (RELIEF) and Bureau of Customs (BOC) data are generated only upon request of investigating offices conducting the tax audits.
PREVIOUSLY, the Securities and Exchange Commission (SEC) issued Memorandum Circular No. 9-2011, prescribing a 10-year limit on independent directors in listed, public and mutual fund companies.
Guidelines in securing importers and broker's BIR clearances
To increase the audit coverage of Value Added Tax (VAT)-registered taxpayers and facilitate completion and reporting of cases under VAT Audit Program (VAP), the Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Order (RMO) No. 59-2016 expanding the coverage of VAT audit investigations and introducing issue-based audit under the VAP.
