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Revenue Memorandum Circular No. 68-2024

2024-07-02T13:35:02+08:00

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

2024-07-01T16:08:07+08:00

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

2024-07-02T13:52:19+08:00

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

2024-06-29T17:53:29+08:00

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

2024-06-29T11:56:29+08:00

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

2024-05-29T13:45:52+08:00

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

2024-05-20T15:17:23+08:00

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

Revenue Memorandum Circular No. 60-2024

2024-05-17T16:35:05+08:00

This Circular is issued to provide clarification and guidance on the amendments introduced by Republic Act No. 11976 otherwise known as the "Ease of Paying Taxes (EOPT) Act", particularly on the repeal of Section 34 (K) of the National Internal Revenue Code (Tax Code) of 1997, as amended. The amendment is implemented through Section 6 of Revenue Regulations No. 4-2024. With the repeal of the provision under the Ease of Paying Taxes (EOPT) Act, a particular income payment where a tax is required to be withheld can now be allowed as deduction from the gross income, even if no tax was [...]

Revenue Memorandum Circular No. 60-20242024-05-17T16:35:05+08:00

Revenue Memorandum Circular No. 56-2024

2024-05-13T13:29:09+08:00

This Circular clarifies the issuance of Electronic Certificate Authorizing Registration (eCAR) relative to One-Time Transaction (ONETT). The venue for the processing and issuance of eCAR, regardless of where the tax return and the tax payments were made, shall still be at the RDO which has jurisdiction over the ONETT, as follows: Sale of real property - RDO which has jurisdiction over the location of the property subject of sale; Sale of personal property - RDO which has jurisdiction over the residence of the seller; Donation - RDO which has jurisdiction over the residence of the donor (individual)/RDO where the donor is [...]

Revenue Memorandum Circular No. 56-20242024-05-13T13:29:09+08:00

Revenue Memorandum Circular No. 55-2024

2024-04-19T17:23:42+08:00

The provisions of Revenue Memorandum Circular (RMC) No. -2024 allowed the electronic marketplace operators and digital financial services providers a transitory period of ninety (90) days form the date of its issue to comply with the relative policies or requirements of other government agencies, if any, and to give them an opportunity to adjust and properly comply with the provisions of Revenue Regulations (RR) No. 16-2023 prior to the actual imposition of the prescribed withholding tax. In order to provide the said taxpayers a sufficient time to comply and adjust to the requirements of RR No. 16-2023 and other government agencies, [...]

Revenue Memorandum Circular No. 55-20242024-04-19T17:23:42+08:00
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