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The insurance industry is a vital pillar of the Philippine economy, serving both as a financial safety net and a catalyst for long-term economic growth.

Over a year since the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circulars (RMC) Nos. 05-2024 and 38-2024, taxpayers continue to navigate the complexities that these twin issuances introduced in the taxation of cross-border services.

Last July 1, 2025, the Capital Markets Efficiency Promotion Act (CMEPA), or Republic Act No. 12214, took effect.

The Philippines, being an archipelago in the Pacific Ring of Fire and a frequent target of tropical cyclones, faces recurring challenges from natural disasters.

A year ago, I wrote an article about updates on Certificate Authorizing Registration (CAR) applications in relation to the Ease of Paying Taxes Law (EoPT).

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.