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Adding to the wealth of jurisprudence in interpreting the two-year prescriptive period, the Supreme Court (or the “Court”) revisited the interpretation of the two-year prescriptive period for tax refund claims under Section 229 of the National Internal Revenue Code, as amended (or “Tax Code”) in its decision in G.R. No. 271261.
If tax reform had a streaming platform, the BIR’s 2025 lineup would definitely be trending! With teaser announcements as full-fledged issuances, along with cliffhangers on the horizon and additional “episodes” hinted at in the pipeline, it has been a season worth following—especially for businesses and taxpayers trying to stay ahead of the plot.
Innovation has introduced a wide array of services that have reshaped how we live, work, and connect.
On 29 April 2025, Revenue Regulations (RR) No. 15-2025 was issued, revising and clarifying the tax treatment of private retirement benefit plans in the Philippines.
In the realm of investments, the principle is just as clear: time is money. And where there is money, tax naturally follows.
It has been a little over a year since I wrote an article about the guidelines of the Securities and Exchange Commission’s (SEC) eAMEND Portal.
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.
