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Under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, certain health products, such as drugs for noncommunicable diseases, were exempted from Value Added Tax (VAT). Last December 3, 2024, an update to the list of VAT-exempt medicines was issued by the Bureau of Internal Revenue (BIR), in coordination with the Food and Drug Administration (FDA).

On November 15, 2024, the BIR issued Revenue Memorandum Circular No. 123-2024 to clarify the validity of the issuance of the Certificate of Tax Exemption (CTE) to certain tax-exempt corporations.

The Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Circular (RMC) No. 116-2024 on August 21, 2024, implementing Republic Act (RA) No. 11976 or the Ease of Paying Taxes (EOPT) Act, affecting generation, transmission, and distribution utility (DU) companies, electric cooperatives (EC) and retail electricity suppliers (RES).

Due to the improper use of loose Documentary Stamp Tax (DST) as well as the observed sale of loose documentary stamps through online platforms or physical stores, the Bureau of Internal Revenue (BIR) has issued guidelines on the proper sale and affixture of loose documentary stamps to taxable documents.

To clarify the taxability of the medical allowance granted to qualified government civilian personnel, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 107-2024.

The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 115-2024 to clarify issues regarding risk-based approach verification and processing of VAT refund claims, pursuant to Section 112(A) of the Tax Code, as amended and as implemented by Revenue Regulations (RR) No. 05-2024, and Revenue Memorandum Order (RMO) No. 23-2024, as amended by RMO No. 42-2024.

Revenue Memorandum Circular (RMC) No. 113-2024 highlights the availability of the application for update of taxpayer classification through the “Update Information” functionality and the resumption of business registration and other registration-related transactions in the online registration and update system (ORUS) starting October 1, 2024, and October 10, 2024, respectively.

The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Order (RMO) No. 23-2024 to provide guidelines for implementing a risk-based approach in verifying VAT refund claims under Section 112(A) of the National Internal Revenue Code of 1997, as amended by Republic Act No. 11976 – the Ease of Paying Taxes Act.