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Revenue Regulations No. 12-2024


This Revenue Regulation is issued that amends Sections 5 and 6 of Revenue Regulations (RR) No. 3-2019 on the validity if Certificate Authorizing Registration (eCAR) and its revalidation. Pursuant to the provisions of Section 244 in relation of Sections 58(E), 95 and 97 of the National Internal Revenue Code 1997, as amended, these Regulations are promulgated to pertinent provisions of RR No, 3-2019, which prescribed the use of eCAR System. Section 5 and 6 of RR No. 3-2019 are amended to read as follows: "SEC. 5- VALIDITY OF eCAR - The eCAR shall be valid from the date of its issuance [...]

Revenue Regulations No. 12-20242024-07-17T17:24:30+08:00

Revenue Regulations No. 11-2024


The Revenue Regulation is issued that amends the transitory provisions of Revenue Regulations (RR) No. 7-2024 relative to deadlines for compliance with the Invoicing Requirements under the Ease of Paying Taxes Act. Transitory Provisions of RR No. 7-2024 is amended to read as follows: "SECTION 8. Transitory Provisions. -  Certificate of Registration (COR) reflecting the Registration Fee - Business taxpayers are not required to replace its existing BIR Certificate of Registration that displays the  Registration Fee. The COR shall retain its validity although the Registration Fee is shown therein, and taxpayers are no longer required to pay the Annual Registration Fee. [...]

Revenue Regulations No. 11-20242024-07-16T17:54:10+08:00

Revenue Regulations No. 10-2024


This regulation amends certain provisions of Revenue Regulations (RR) No. 10-2006, as amended, relative to the registration of Master Securities Lending Agreement and Global Master Securities Lending Agreement. Section 3 of RR No. 10-2006, as amended, is further amended to read as follows: "SECTION 3. Definition of Terms -  b. Collateral. Cash government securities, equity securities, standby letter of credit issued by a bank, or other forms collateral provided to the Lender as security in accordance with the rules prescribed by the SEC and/or PSE until the borrowed share/security is returned. f. Global Master Securities Lending Agreement (GMSLA). Master Securities Agreement [...]

Revenue Regulations No. 10-20242024-07-04T14:31:26+08:00

Revenue Memorandum Circular No. 68-2024


This Circular is issued that prescribed the newly revised BIR Form No. 2550Q [Quarterly Value-Added Tax (VAT) Return] April 2024 (ENCS) version. The said return, attached as Annex "A" in the Circular, contains the items/fields listed below in compliance with the provisions of Republic Act No. 11976 (Ease of Paying Taxes Act): Item No.   Particulars  35  Output VAT on Uncollected Receivables  36  Output VAT on Recovered uncollected Receivables Previously Deducted  55  Input VAT on Unpaid Payables  58  Input VAT on Settled Unpaid Payables Previously Deducted   The revised BIR Form No. 2550Q is already available on the BIR Website under the [...]

Revenue Memorandum Circular No. 68-20242024-07-02T13:35:02+08:00

Revenue Memorandum Circular No. 67-2024


This Circular is issued to clarify the deadline for filing of Documentary Stamp Tax (DST) Return and payment of DST considering the passage of Republic Act No. 11976 (Ease of Paying Taxes Act). Section 200(B) of the National Internal Revenue Code of 1997, as amended (Tax Code), states: "Section 200. Payment of Documentary Stamp Tax.- (B) Time for Filing and Payment of the Tax. - Except as provided by rules and regulations promuldated by the Secretary of Finance, upon recommendation of the Commissioner, the tax return prescribed in this Section shall be filled, either electronically or manually, within ten (10) days [...]

Revenue Memorandum Circular No. 67-20242024-07-01T16:08:07+08:00

Revenue Memorandum Circular No. 66-2024


This Circular is issued that prescribes the guidelines in the submission of Inventory Report on or before July 31,2024, and Notice on the remaining of Official Receipt/Billing Statement/Statement of Charges within thirty (30) days from the completion of machine/system reconfiguration/enhancement or on December 31,2024, whichever comes first. Taxpayers have the option to submit their Inventory Report and/or Notice being required under Revenue Regulations No. 7-2024 electronically: a) via email through Taxpayer Registration-Related Applications Portal which is accessible in the BIR Website under the eServices section - Annex A; or b) via direct email of the Inventory Report and Notice to the [...]

Revenue Memorandum Circular No. 66-20242024-07-02T13:52:19+08:00

Revenue Memorandum Circular No. 65-2024


This Circular is issued to clarify certain issues relative to the implementation of Section 19 of Republic Act No. 11976 (Ease of Paying Taxes Act), which added Section 110(D) of the National Internal Revenue Code of 1997, as amended (Tax Code), that introduced the Output Value Added Tax (VAT) Credit on uncollected receivables. The rationale of Section 110(D) is that sales are either made in cash or on account. In cash sales, the seller, who has passed-on the VAT to the buyer has no problem in the corresponding VAT due thereon to the BIR since the seller has already collected the [...]

Revenue Memorandum Circular No. 65-20242024-06-29T17:53:29+08:00

Revenue Memorandum Circular No. 64-2024


This circular is issued that clarifies the ante-dating of deeds of sale of deeds of sale involving real properties. In case of delay in the presentation of notarized deeds of sale or other transfer documents, the relevant laws and regulations on the kind of tax, rate of tax, zonal or fair marker values, effective at the date of notarization shall be applied, but the corresponding penalties and interest for late filing of return and payment of applicable taxes shall be imposed. However, in cases where it is found that the deeds of sale or other transfer documents are ante-dated, the laws [...]

Revenue Memorandum Circular No. 64-20242024-06-29T11:56:29+08:00

Revenue Memorandum Circular No. 63-2024


This Circular is issued to announce the availability of BIR Form No. 1702-MX [Annual Income Tax Return for Corporation, Partnership and Other Non- Individual with MIXED Income Subject to Multiple Income Tax Rates or with Income Subject to SPECIAL/PREFERENTIAL RATE] January 2018 (ENCS) in the Electronic Filing and Payment System (eFPS) The aforementioned BIR Form shall be filed electronically, with or without payment, on or before the 15th day of the 4th month following the close of the taxpayer's taxable year. All mandated eFPS taxpayers who are required to file the said return and pay the corresponding tax due thereon, if [...]

Revenue Memorandum Circular No. 63-20242024-05-29T13:45:52+08:00

Revenue Memorandum Circular No. 62-2024


Pursuant to the provision of Republic Act No. 11976, otherwise known as "Ease of Paying Taxes (EOPT) Act", and pursuant to Revenue Regulations No. 8-2024, their annual gross sales from their business. In relation to the foregoing, this Circular is hereby issued to announce the availability of functionality for online Taxpayer Classification inquiry in the BIR's Online Registration and Update System (ORUS) through its "BIR Registered Business Search and Taxpayer Classification Inquiry" functionality. To view/inquire on the Taxpayer's Classification under the EOPT Act, taxpayer-applicants shall access ORUS through the ORUS homepage and follow the procedures below. In ORUS Homepage, select the [...]

Revenue Memorandum Circular No. 62-20242024-05-20T15:17:23+08:00
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