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On May 08, 2025, the BIR issued Revenue Memorandum Circular No. 47-2025 clarifying some implementation issues regarding value-added tax on digital services imposed by the new law, Republic Act No. 12023.
Last year marked a significant era of tax reform, with several new laws enacted to amend and update our National Internal Revenue Code (Tax Code). Among these is Republic Act (RA) No. 12023, which imposes a 12% VAT on all digital services consumed in the Philippines.
Less than a week before the 2025 Philippine midterm elections, the air crackles with promises, rhetoric, and the tug-of-war for the hearts and minds of voters.
The government has been tirelessly pushing to attract more investors for the Philippines to become more investment-friendly and more competitive with other ASEAN countries. To pursue this move, recent tax laws are trying to keep up with the digital world where convenience and simplicity of processes are paramount.
CMEPA’s basic objectives are to promote a fairer and simpler passive income tax system that will encourage savings and capital investment; to increase capital mobility in an ever-globalizing world; and to incentivize investment in the trade of equity and security debts.
In my research, I noted that various programmes that encourage private entities to help or assist in upgrading and modernising educational institutions in the Philippines have been instituted. In 1998, Republic Act (“R.A.”) No. 8525, otherwise known as the “Adopt-a-School Program”, was enacted.
With the Comprehensive Tax Reform Package (CTRP) unfolding one by one, it can be quite overwhelming for taxpayers to note the changes that will directly affect them. With the passage of the CREATE MORE Act (Republic Act No. 12066), the country moves closer to becoming more competitive by enhancing tax incentives to attract investors.
Philippine taxation has undergone significant changes with the enactment of several tax reforms in 2024. These reforms include the Ease of Paying Taxes Act (R.A. No. 11976), the Real Property Valuation Act (R.A. No. 12001), VAT on Digital Services (R.A. 12023), and the most recent CREATE MORE Act (R.A. No. 12066), which generally aims to modernize the current tax system, making it simpler, fairer, and more efficient.
