Updates

Revenue Memorandum Order (RMO) No. 28-2017 dated April 25, 2017 amends certain provisions of RMO No. 42-2016 further streamlining the requirements of Personal Equity & Retirement Account (PERA) in line with the BIRs initiative to reduce the number of requirements from 15 to 3 with regard to the submission of reports by the PEZA administrator to Audit Information Tax Exemption & Incentives Division (AITEID), which is the BIRs PERA Processing Office.

Revenue Memorandum Order (RMO) No. 27-2017 dated August 29, 2017 provides for the creation of Alphanumeric Tax Code for Microfinance Non-government organization pursuant to Republic Act No. 10693, otherwise known as the Microfinance NGOs Act

PEZA has issued Memorandum Order No. 2017-012 dated September 27, 2017 which simplifies the issuance of Certifications on Available Incentives & Entitlement to 5% Gross Income Tax to qualified registered enterprises.  Effective October 15, 2017, the issuance of certifications shall be done through e-mail as part of PEZAs commitment in improving ease of doing business with PEZA.

 

DIVIDEND INCOME NOT SUBJECT TO LOCAL BUSINESS TAX

 

CORPORATE TERM OF CONDOMINIUM CORPORATION IS CO-TERMINUS WITH THE DURATION OF THE CONDOMINIUM PROJECT

 

A CTA DECISION ON TAXABILITY OF EARNINGS DERIVED PURSUANT TO OFFSHORE SERVICE CONTRACTS

SUPREME COURT (SC) DECISION ON INSPECTION OF CORPORATE BOOKS OF ACCOUNTS & JURISDICTION OF INTRA-CORPORATE DISPUTE

A CTA DECISION ON THE BIR’S FAILURE TO PROVE FRAUD AS COMMITTED BY TAXPAYER THEREBY EXTENDING THE RIGHT TO ASSESS FROM 3 YEARS TO 10 YEARS

A CTA DECISION ON THE DEFENSE OF DEFECTIVE WAIVER DUE TO ABSENCE OF BOARD RESOLUTION

 

 

A CTA DECISION UPHOLDING BIR ASSESSMENT DUE TO INAPPLICABILITY OF THREE-YEAR PRESCRIPTION PERIOD AS NO RETURN WAS FILED

Revenue Memorandum Order (RMO) No. 17-2017 dated July 17, 2017 [with released date on August 7, 2017] prescribes the policies and procedures in monitoring compliance of Top Taxpayers in Revenue Regions.

A CTA DECISION ON VAT CONSEQUENCE OF REAL PROPERTY ASSIGNED BY WAY OF SUBSCRIPTION OF SHARES OF STOCKS

 

CONGRESS FAST TRACKING PASSAGE OF BILL RESHAPING HOW BIR SHOULD DEAL WITH PROTESTED ASSESSMENTS-AFTERMATH OF DEL MONTE CASE + TAX REFORM PROPOSALS UPDATE

BIR TO LTFRB UBER & GRAB OPERATORS NEED NOT PRESENT ITR + PEZA NEW COMPLIANCE REQUIREMENT DEADLINE ON JULY 31 2017

BIR ON PLUNDER CASE FILED IN RELATION TO ALLEGED DEL MONTE REDUCED ASSESSMENT + PDIC PAYS PHP 200 MILLION TO SETTLE TAX DISPUTE WITH BIR + FORMER PBA STAR CHARGED WITH TAX EVASION