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National Internal Revenue Code of 1997 5th Edition
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 152-2022 to provide clarifications and guidelines on the implementation of certain provisions in Revenue Regulations (RR) No. 21-2021 and RMC Nos. 24-2022 and 49-2022 regarding the revised value-added tax (VAT) rules for Registered Export Enterprises (REEs) under the CREATE Law.
The Feast of Epiphany and the celebration of the Baptism of the Lord ended the Christmas season last January 8. This day also marked the end of the Bureau of Internal Revenue’s suspension of audit and field operations.
Beginnings are celebrated, and endings are often avoided. But if we really think about it, it is not the end or cessation of one thing that we veer away from, but the fear of the unknown that an ending or the start of something new brings.
With 2022 in our rearview mirrors, let us now face 2023 with full optimism and determination to succeed. To help us realize our aspirations for this new year, let us examine what 2023 has in store for us – taxpayers and tax practitioners alike.
The BIR Online Registration and Update System (ORUS) is already available in the BIR wWebsite (www.bir.gov.ph) under the eServices icon or through the link https://orus.bir.gov.ph is already available.
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Order (RMO) No. 55-2022 dated December 15, 2022, to inform the public of the suspension of all field audit and other field operations of the BIR relative to examinations and verifications of taxpayers’ books of accounts, records, and other transactions from December 16, 2022, to January 8, 2023.
Another year is dawning, and the countdown has begun. As the days go by and we take the first step in faith towards the new year, we hope everyone can reflect and truly say that it was indeed a year of intense growth. Since I am a believer that the new year is neither an end nor a beginning but a going-on, I wish to take everyone back and recall the previous Let’s Talk Transfer Pricing (TP) articles that were published throughout the year so we may welcome 2023 with proper guidance.
The Bureau of Internal Revenue (BIR) has issued Revenue Regulation (RR) No. 15-2022 to inform all concerned regarding the amendment of the creditable withholding rates of income payments to MERALCO.
