Every sales transaction tells a story and soon, the Bureau of Internal Revenue (BIR) will hear it almost instantly.
Amidst a dynamic landscape, the Philippines has implemented several laws to invigorate economic growth.
Naturally, where income flows, taxes follow. As the industry continues to thrive, understanding how income earned by each participant in this ecosystem is taxed under Philippine law becomes essential, not only for regulatory compliance but also for fostering the industry’s long term sustainability.
With an international conflict thousands of miles away turn into an on-the-ground daily battle of survival, the Philippine Congress passed Republic Act No. 12316 aimed at providing responsive actions to the ongoing energy crisis.
The Philippine Real Estate Investment Trust (REIT) market welcomed 2026 with a new stage of development with the issuance of Securities and Exchange Commission (SEC) Memorandum Circular No. 1, Series of 2026, amending the Implementing Rules and Regulations (IRR) of the REIT Act of 2009, or RA 9856.
On March 30, 2026, the Bureau of Internal Revenue (BIR) seems to have taken a step back with the issuance of RMC No. 24-2026, which appears to have tempered the reach of RMC No. 5 2024.
Despite its indirect impact on the Philippines, with Iran being roughly 7,000 kilometres away from the Philippines, some ordinary Filipinos may feel less concerned about the conflict between US, Israel, and Iran as it unfolds on the ground in the Middle East.
Early this year, reports emerged that certain members of the House of Representatives initiated House Bill No. 7844, which aims to repeal the VAT on digital services.
