BIR Updates

Revenue Memorandum Circular No. 53-2023

2023-06-08T05:34:32+08:00

Clarifies the entitlement of economic zone developers and operators to the Value-Added Tax (VAT) zero-rating on local purchases of goods and services directly and exclusively used in the registered project or activity. The Board of Investments (BOI) Memorandum Circular (MC) No. 2022-003 which amended the Specific Guidelines of Activities in Support of Exporters under the 2020 Investment Priorities Plan (IPP), also known as the transitional Strategic Investment Priority Plan (SIPP), included the development and operation of economic zones; and industrial parks and buildings for exporters, as “Activities in Support of Exporters”. This covers the development and operation of economic zones and [...]

Revenue Memorandum Circular No. 53-20232023-06-08T05:34:32+08:00

Revenue Memorandum Circular No. 52-2023

2023-06-06T03:50:18+08:00

Clarifies the guidelines for optional filing and payment of monthly Value-Added Tax (VAT) Returns (BIR Form No. 2550M) for VAT-registered persons. While the Tax Code now mandates the filing of VAT returns and payment of the corresponding VAT liabilities on a quarterly basis, VAT-registered persons may continue to file and pay the VAT on a monthly basis and still use BIR Form No. 2550M. The procedures and guidelines set forth in Revenue Regulations Nos. 16-2005 and 6-2014, Revenue Memorandum Circular No. 68-2005 and other related revenue issuances, regarding the use of BIR Form No. 2550M shall continue to apply. If the [...]

Revenue Memorandum Circular No. 52-20232023-06-06T03:50:18+08:00

Revenue Regulations No. 5- 2023

2023-06-02T03:50:07+08:00

Amends Revenue Regulations No. 5-2021 on the requirements in availing the Income Tax exemption of foreign-sourced dividends received by a Domestic Corporation. In General, foreign-sourced dividends received by domestic corporations are subject to Income Tax. However, the same shall be exempt if all of the following conditions concur: The dividends actually received or remitted into the Philippines are reinvested in the business operations of the domestic corporation within the next taxable year from the time the foreign-sourced dividends were received or remitted; The dividends received shall be used to find the working capital requirements, capital expenditures, dividend payments, investment in domestic [...]

Revenue Regulations No. 5- 20232023-06-02T03:50:07+08:00

Revenue Regulation No. 4- 2023

2023-06-02T03:43:44+08:00

Amends Section  2 of Revenue Regulation No. 9-2016 which further expand the coverage of taxpayers mandated to file tax returns through electronic Bureau of Internal Revenue Forms (eBIRForms), to wit: Accredited Tax Agents/Practitioners and all its client –taxpayers; Accredited Printers of Principal and Supplementary Receipts/Invoices; One-Time Transaction (ONETT) taxpayers who are classified as real estate dealers/developers; those who are considered as habitually engaged in the sale of real property and regular taxpayers already covered by eBIRForms. Thus taxpayers who are filing BIR Form No. 1706, 1707,1800, 1801 and 2000-OT (for BIR Form No. 1706 only) are excluded in the mandatory coverage [...]

Revenue Regulation No. 4- 20232023-06-02T03:43:44+08:00

Revenue Regulations No. 3-2023

2023-06-02T03:46:27+08:00

Amends certain provisions of Revenue Regulations (RR) No. 16-2005, as amended by RR No. 21- 2021, to implement Sections 294 (E) and 295 (D), Title Xlll of the National Internal Revenue Code of 1997, as amended by Republic Act (RA) No. 11534 (Corporate Recovery and Tax Incentives for Enterprise Act or CREATE Act), and Section 5, Rule 2 and Section 5, Rule 18 of the CREATE Act Implementing Rules and Regulations (IRR), as amended. Section 4.106-5 of RR No. 16-2005, as amended by RR No. 21-2021, is hereby further amended and shall now be read as follows:   "SEC. 4.106-5. Zero-Rated [...]

Revenue Regulations No. 3-20232023-06-02T03:46:27+08:00

Revenue Regulations No. 2-2023

2023-06-02T03:45:33+08:00

Prescribes the use of constructive affixture of documentary stamp as proof of payment of Documentary Stamp Tax (DST) for certificates issued by government agencies or instrumentalities. In lieu of the loose documentary stamps, all government agencies or instrumentalities shall use the constructive affixture of documentary stamps, all government agencies or instrumentalities shall use the constructive affixture of documentary stamp on the certificates they issue which are subject to DST. These government agencies or instrumentalities shall be constituted as agents of the Commissioner of Internal Revenue for the collection and remittance of such DST to the Bureau of Internal Revenue (BIR). For [...]

Revenue Regulations No. 2-20232023-06-02T03:45:33+08:00

RMC No. 40- 2023: Availability of the Offline electronic Bureau of Internal Revenue Forms (eBIRForms) Package Version 7.9.4

2023-03-30T06:04:18+08:00

BIR Issued this circular to announce the availability of the Offline eBIRForms Package Version 7.9.4 which can be downloaded from the following websites: www.bir.gov.ph  www.knowyourtaxes.ph/ebirforms The Offline eBIRForms Package v7.9.4 now includes the April 2021 version of the following forms: BIR Form No. Description Deadline for Filing and Payment 1707 Capital Gains Tax Return (For Onerous Transfer of Shares of Stock Non-Traded Through the Local Stock Exchange) Within thirty (30) days after each cash sale, carter, exchange, or other disposition of shares of stock not traded through the local stock exchange. 1707-A Annual Capital Gains Tax Return (For Onerous Transfer of [...]

RMC No. 40- 2023: Availability of the Offline electronic Bureau of Internal Revenue Forms (eBIRForms) Package Version 7.9.42023-03-30T06:04:18+08:00

RMC No. 32-2023: Guidelines in filing of the Annual Income Tax Returns for CY 2022 and payment of Taxes due thereon until April 17, 2023

2023-03-21T05:27:33+08:00

Filing of Annual Income Tax Returns for Calendar Year 2022 as well as Payment of Taxes Due Thereon Until April 17, 2023 For the information and guidance of all concerned, this Circular is being issued to provide the guidelines in the filing of Annual Income Tax Returns (AITR) for Calendar Year (CY) 2022, as well as the payment of corresponding taxes due thereon, until April 17, 2023. Taxpayers may file the AITR for CY 2022 and pay the taxes due to any Authorized Agent Banks (AABs) and Revenue Collection Officers (RCOs), notwithstanding the Revenue District Office (RDO) jurisdiction, without the imposition [...]

RMC No. 32-2023: Guidelines in filing of the Annual Income Tax Returns for CY 2022 and payment of Taxes due thereon until April 17, 20232023-03-21T05:27:33+08:00

RMC No. 24 – 2023

2023-02-27T07:19:55+08:00

On February 17, 2023, the BIR Issued the Revenue Memorandum Circular No. 24- 2023 that further clarifies the qualifications of Ecozone Logistics Service Enterprise (ELSE) to the incentives of VAT-Zero Rate on local purchases of goods and services exclusively and directly used in the registered project or activity. ELSE is a Registered Business Enterprise (RBE) supplying production-related raw materials and equipment that caters exclusively to the requirements of export manufacturing enterprises that are registered with the Philippine Economic Zone Authority (PEZA), Cark Development Corporation (CDC), Subic Bay Metropolitan Authority (SMBA), Authority of the Freeport Area of Bataan (AFAB) or other special [...]

RMC No. 24 – 20232023-02-27T07:19:55+08:00

RR No. 1-2023

2023-02-03T02:59:20+08:00

On January 18, 2023, the BIR issued RR No. 1-2023 that implements the ten percent (10%) discount and the Value-Added Tax (VAT) exemption under Republic Act (RA) No. 11861 (Expanded Solo Parents Welfare Act), to wit: Solo parents that meet all of the following conditions shall qualify for the 10% discount and VAT exemption: Solo Parent has a child/children (as defined in RA No. 11861) with the age of six (6) years or under; and Solo Parent is earning less than P 250,000.00 annually. The 10% discount and VAT exemption shall apply to a qualified Solo Parent’s purchase of the following [...]

RR No. 1-20232023-02-03T02:59:20+08:00
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