Tax Notes

Tax compliance reminders for May 9 national and local elections

Contents

The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular No. 22-2022 last February 21, 2022 to remind all candidates, political parties, and campaign contributors of their obligations with the BIR in line with the upcoming national and local elections. Thus, they shall comply with the following requirements:

All candidates, political parties, and party-list groups who fail to comply with the afore-mentioned shall be subject to the revised consolidated schedule of compromise penalties under Revenue Memorandum Order No. 7-2015.


P&A Grant Thornton 

Certified Public Accountants

 

As published in SunStar Cebu, dated 23 March 2022

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