Filter insights by:
Stay ahead and check tax and other reportorial deadlines with our comprehensive digital calendar! Gain quick access to key filing dates and deadlines in one convenient platform—helping you stay organised, compliant, and confident throughout the year.
National Internal Revenue Code of 1997 5th Edition
The Bureau of Internal Revenue (BIR) recently issued Revenue Regulations (RR) No. 10-2022, which lays out the guidelines and procedures for requesting MAP assistance in the Philippines. This opens an alternative remedy for taxpayers facing double taxation, whose current available courses of actions are only to litigate such case in court or to file an administrative appeal.
The Bureau of Internal Revenue (BIR) has issued Revenue Regulation (RR) No. 8-2022 to inform all concerned regarding the implementation of the required issuance of electronic receipts or invoices in lieu of manual receipts or invoices for certain identified taxpayers.
In April 2021, the Philippines committed to a 75% reduction in greenhouse gas (GHG) emissions from its 2020 numbers as part of the Paris Agreement. It also aimed to increase renewable energy (“RE” or “renewables”) usage to 35% to enable this goal. Plans are still in motion for the country’s RE transition, but as far as progress is concerned, Southeast Asia’s Green Economy 2022 Report found the Philippines to be a laggard in the race for green energy. According to the report, this slow pace is due to a lack of concrete implementation to accompany our loftier plans, so high hopes rest on the incoming administration to catch up and make good on our commitment to GHG reduction.
In the world of intercompany transactions between domestic corporations or among members of multinational companies (MNCs), a transfer pricing (TP) policy is a must-have document.
The SSS has issued an updated list of documentary requirements for sickness and disability benefits in support of the digitalization of the SSS benefit process and in compliance with Republic Act No. 11032 or the Ease of Doing Business and Efficient Government Service Delivery Act of 2018.
In our present era, the BIR is likewise continuing to go digital to cope with the changing times. For one, at the beginning of this year, the Calendar Year 2022 BIR Priority Programs and Projects included the Digital Economy Policy. Under this project, the BIR intends to align tax rules and regulations to capture the digital economy. Included also in the said priorities of the BIR were the re-architecture and development of the filing system/facility, and the enhancement of the quality of tax administration and the delivery of taxpayer services through a Taxpayer Registration Database Management System, among others.
Taxpayers can take a breather as the country’s tax collection agency has suspended tax audits and other field operations as provided under Revenue Memorandum Circular (RMC) Nos. 76-2022 and 77-2022.
In 2013, Yahoo dealt with what the world now dubs as one of the biggest, if not the most massive, data hacks in history. At that time, the company was in the process of a huge takeover deal with another firm. According to a Reuters article, the breach took place in 2013 but was publicized by Yahoo only in 2016 when the company admitted that accounts of over a billion of its subscribers were compromised. Although the hackers were able to access security questions and answers, the attackers were not able to steal payment card and other bank details of the company’s subscribers.
