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BIR Updates

Revenue Memorandum Circular No. 78-2023

2023-08-07T04:44:31+08:00

BIR issued RMC No. 78-2023 Prescribing the Administrative Requirements for Importers and Manufacturers of Raw Materials, Apparatus or Mechanical Contrivances, and Equipment Specially Used for the Manufacture of Heated Tobacco Products and Vapor Products. Importers or manufacturers of raw materials, apparatus or mechanical contrivances, and equipment specially used for the manufacture of HTPs and Vapor Products are required to comply with the following requirements:  Application for a Permit to Operate as an importer or manufacturer of raw materials, apparatus or mechanical contrivances, and equipment specially used for the manufacture of HTPs and Vapor Products. - Applicant shall file his/her application in [...]

Revenue Memorandum Circular No. 78-20232023-08-07T04:44:31+08:00

Revenue Regulations No. 8-2023

2023-08-02T07:04:40+08:00

Revenue Regulations No. 8- 2023 clarifies the information that shall appear in the official receipts/sales invoices on purchases of Senior Citizens (SCs) and Persons With Disabilities (PWDs) through online (E-Commerce) or mobile applications, in relation to Revenue Regulations (RR) No. 10-2015.  The signature of the SC/PWD, as contemplated in RR No. 10-2015, shall not be required for qualified purchases made by SCs/PWDs online or through mobile applications. Nonetheless, the SC/PWD Identification Card number should still be provided by the SC/PWD when purchasing through online or mobile platforms; and the rules on entitlement to the benefits of the SC/PWD and to the [...]

Revenue Regulations No. 8-20232023-08-02T07:04:40+08:00

Revenue Regulation No. 7-2023

2023-07-19T02:13:39+08:00

Revenue Regulation No. 7-2023 issued on July 7, 2023, amends certain provisions on Revenue Regulations (RR) Nos. 17-2011, 2-2022, implementing republic act (RA) No. 9005 (Personal Equity and Retirement Account [PERA] Act of 2008).  Section 2 (n) and Section 6 of RR No. 17-2011, as amended, are further amended to read as follows:  “Section 2. Definition of Terms – xxxx  (n): Qualified PERA Contributions – shall refer to the contributions of the Contributor to his PERA, which shall not exceed 200,000.00 per calendar year (if the Contributor is a non-Overseas Filipino), or 400,000.00 per calendar year (if the Contributor is an [...]

Revenue Regulation No. 7-20232023-07-19T02:13:39+08:00

Revenue Memorandum Circular No. 76-2023

2023-07-14T05:24:48+08:00

The BIR issued the Revenue Memorandum Circular No. 76-2023 to circularize Wage Order No. NCR-24 was approved on June 26, 2023. Wage Order No. NCR –24 PROVIDING FOR A MINIMUM WAGE INCREASE IN THE NATIONAL CAPITAL REGION The Regional Tripartite Wages and Productivity Board – National Capital Region is mandated under Republic Act No. 6727, otherwise known as “The Wage Rationalization Act”, to periodically assess wage rates and conduct continuing studies in the determination of the minimum wage applicable in the region or industry;   The current Wage Order No. NCR 23 took effect on June 4, 2022;  The Board received [...]

Revenue Memorandum Circular No. 76-20232023-07-14T05:24:48+08:00

Revenue Memorandum Order No. 25-2023

2023-07-12T12:18:33+08:00

Revenue Memorandum Order No. 25-2023 issued on July 4, 2023, prescribes the policies, guidelines and procedures in the preparation and processing of payroll in the National Office and Regional Offices using the new Nationwide BIR Payroll System (NBPS).   The new NBPS has full integration modules which has the capability to accurately capture personnel information necessary for the processing of the payroll and generation of reports. It can generate the weekly or semi-monthly General Office Payroll (GOP) for the Salaries, Personnel Economic Relief Allowance (PERA), Representation Allowance and Transportation Allowance (RATA) including other monetary bonuses and incentives. NBPS has the following [...]

Revenue Memorandum Order No. 25-20232023-07-12T12:18:33+08:00

Revenue Memorandum Circular No. 75-2023: Extension of Replacing “Ask for Receipt” notice with the niew “Notice to Issue Receipt/Invoice”

2023-07-12T12:23:13+08:00

Revenue Memorandum Circular No. 75-2023 The Bureau informed the taxpayers to replace their old “Ask for Receipt” Notice with the new NIRI until June 30, 2023. While the deadline was already set, several inquiries are being received from business taxpayers asking if there is an extension on the replacement of Ask for Receipt Notice (ARN) with Notice to Issue Receipt/Invoice (NIRI).  In this regard, the Circular is issued to extend the deadline of securing the new "Notice to Issue Receipt/Invoice” (NIRI) on or before September 30, 2023. To secure the NIRI, the taxpayer shall fill out S1905-Registration Update Sheet to indicate/update [...]

Revenue Memorandum Circular No. 75-2023: Extension of Replacing “Ask for Receipt” notice with the niew “Notice to Issue Receipt/Invoice”2023-07-12T12:23:13+08:00

Revenue Memorandum Circular No. 74-2023

2023-07-12T12:25:57+08:00

Revenue Memorandum Circular No. 74-2023 prescribes the standard templates for the "Sworn Statement” and “Sworn Declaration” that shall be submitted by the domestic corporation as an attachment to the Annual Income Tax Return (AITR) pertaining to the taxable year when the dividend is received and to the AITR for the immediately succeeding taxable year, respectively. The required sworn statement/declaration is part of the requirements for availing the income tax exemption of foreign-sourced dividends pursuant to Section 27 (D)(4) of the National Internal Revenue Code, as amended.  Considering that the prescribed templates pursuant to RR No. 5-2023 only include dividend income received [...]

Revenue Memorandum Circular No. 74-20232023-07-12T12:25:57+08:00

Revenue Memorandum Circular No. 71-2023

2023-07-12T12:30:59+08:00

Revenue Memorandum Circular No. 71-2023, provides uniform guidelines and prescribes the revised mandatory documentary requirements in the processing and grant of Value-Added-Tax (VAT) credit/refund claims under Section 112 of the Tax Code of 1997, as amended, in line with the latest developments on VAT introduced by Republic Act (R.A.) No. 10963 (TRAIN Law) and R.A. No. 11534 (CREATE Act), except those under the authority and jurisdiction of the Legal Group. The Circular shall take effect for VAT refund/credit claims that will be filed starting July 1, 2023.  The time frame to process and grant claims for VAT refund is ninety (90) [...]

Revenue Memorandum Circular No. 71-20232023-07-12T12:30:59+08:00

Revenue Memorandum Circular No. 70-2023

2023-07-12T12:35:46+08:00

The BIR issued the Revnue Memorandum Circular No. 70-2023 on June 22, 2023 circularizes the additional List of Top Withholding Agents (TWAs) for inclusion to and deletion from the existing List of TWAs required to deduct and remit either the one percent (1%) or two percent (2%) Creditable Withholding Tax (CWT) from the income payments to their suppliers of goods and services, respectively, pursuant to Revenue Regulations (RR) No. 31-2020. The said Lists are posted at the BIR's website (www.bir.gov.ph). Accordingly, the obligation to deduct and remit to the BIR the 1% and 2% CWT shall commence or cease, as the [...]

Revenue Memorandum Circular No. 70-20232023-07-12T12:35:46+08:00

Revenue Memorandum Circular No. 58-2023

2023-07-07T02:56:34+08:00

Revenue Memorandum Circular No. 58-2023, clarifies the policies and guidelines on the issuance and validity of Taxpayer Identification Number (TIN) Card and Certificate of Registration (COR).  The old TIN cards (yellow-orange) is no longer being issued by the BIR. It was replaced with a new design TIN card (BIR Form No. 1931) (color green), which is an accountable form of the BIR. In spite of the issuance of the new TIN card, previously issued old TIN cards (yellow-orange color) are still valid TIN IDs that do not expire. Thus, it need not be replaced by the taxpayer since the TIN (the [...]

Revenue Memorandum Circular No. 58-20232023-07-07T02:56:34+08:00
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