Every peso counts: Understanding the VAT relief on system loss charges
Let's Talk TaxSystem loss refers to the electricity that has already been generated and paid for but is lost before it reaches consumers.
No VAT left behind: VAT refund transition relief for export-oriented enterprises
Let's Talk TaxTax incentives may be clear in principle, but putting them into practice can raise unexpected but practical questions.
E-Invoicing in focus: What taxpayers need to know before the December 31, 2026 Deadline
Let's Talk TaxThis year, the Bureau of Internal Revenue (BIR) launched its DARES reform agenda, a five-point framework anchored on digital and data transformation, audit reform and accountability, revenue collection and base protection, employee empowerment and welfare promotion, and service excellence and stakeholder engagement.
The -Ber months are here: The countdown to the e-invoicing deadline on 31 December 2026
Let's Talk TaxAs the -ber months begin, taxpayers may have another countdown on their minds. The BIR recently issued a draft Revenue Memorandum Circular (RMC) on e-invoicing and opened it for public consultation, providing a clearer picture of how the new regime may operate.
New income tax exemption cap: Tax relief or inflation adjustment?
Let's Talk TaxDuring his fifth State of the Nation Address (SONA) on 27 July 2026, President Ferdinand Marcos Jr. proposed increasing the annual personal income tax exemption threshold from ₱250,000 to ₱350,000.
The power to tax involves the power to destroy, but NOT when the Court sits: Upholding due process in BIR tax assessments
Let's Talk TaxTaxation is one of the inherent powers of the State. The famous dictum of the US Supreme Court Chief Justice John Marshall in McCulloch v. Maryland that “the power to tax involves the power to destroy” has long illustrated the breadth of the taxing power of the State. Taxes are the lifeblood of the government and, therefore, should be collected without unnecessary hindrance. However, if exercised arbitrarily, the power to tax can become oppressive.