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We perform audit engagements in accordance with the Philippine Standards on Auditing (PSA), as required by required by national legislation or other regulations of agencies such as the Bureau of Internal Revenue (BIR), Securities and Exchange Commission (SEC), Bangko Sentral ng Pilipinas (BSP), Insurance Commission (IC), Cooperative Development Authority (CDA), etc.
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The outsourcing industry is one of the fastest growing sectors in the Philippines. Growth in the industry is at an annual average rate of 20%. The industry is...

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Tax Notes

BIR Temporarily Suspends Bond Requirement for Importers and Manufacturers of Petroleum Products effective 18 October 2025

22 Oct 20252 min read

Contents

Section 160 of the Tax Code, as amended, requires importers and/or manufacturers of articles subject to excise tax to post a bond, which shall be paid in the years succeeding the initial period of operation and shall be based on the actual excise tax paid during the year immediately preceding the year of operation.

The petroleum industry has long argued that the bond requirement is unnecessary because excise taxes are already paid prior to the release of petroleum products from the custody of the Bureau of Customs (BOC) or withdrawal from refineries.

In view of the foregoing and in accordance with the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 or Republic Act (RA) No. 9485, as amended by RA No. 11032, the Bureau of Internal Revenue (BIR) issued Revenue Regulations No. 025-2025, suspending the bond requirement pending review by the Anti-Red Tape Authority (ARTA). To qualify for the suspension, importers/manufacturers must comply with the following requirements:

Be registered with both BIR and BOC;
Submit a record of substantial compliance with tax and customs laws;
Secure an Authority to Release Imported Goods (ATRIG) via the Philippine National Single Window system; and,
Submit monthly reports to BIR and BOC detailing import quantities, invoice values, and tax payments.

The suspension shall remain in effect until the ARTA completes its review or if there is a significant change in the petroleum industry’s compliance behavior. During this period, the BIR and the BOC will enforce robust monitoring and control mechanisms to ensure accurate and timely tax payments. Any failure to comply with these requirements will result in penalties as prescribed under existing laws.

RR No. 025-2025 is effective on October 18, 2025, which is 15 days after the publication in the Official Gazette or the BIR’s official website, whichever comes first.

Please be guided accordingly.

Source:

P&A Grant Thornton

Certified Public Accountants

P&A Grant Thornton is the Philippine member firm of Grant Thornton International Ltd.

As published in SunStar Cebu, dated 22 October 2025