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Tax Code of 1997

Revenue Regulations No. 8-2024

2024-04-18T19:58:36+08:00

The Revenue Regulations implements Section 21(b) of the Tax Code of 1997, as amended by Republic Act No. 11976 (Ease of Paying Taxes Act), on the classification of taxpayers. Taxpayers shall be classified, and be covered by these Regulations, as follows: Micro Taxpayer - shall refer to a taxpayer whose gross sales for a taxable year is less than Three Million Pesos (P3,000,000.00) Small Taxpayer - shall refer to a taxpayer whose gross sales for a taxable year is Three Million Pesos (P3,000,000.00) to less than Twenty Million Pesos (P20,000,000.00). Medium Taxpayer - shall refer to a taxpayer whose gross sales [...]

Revenue Regulations No. 8-20242024-04-18T19:58:36+08:00

REVENUE MEMORANDUM CIRCULAR NO. 21-2024

2024-02-17T11:51:24+08:00

The revised answer in Q & A No. 31 pursuant to RMC No. 49-2022 required the following types of Registered Export Enterprises (REE) to change their registration status from Value-Added Tax (VAT)-registered entity to non-VAT:   Within two (2) months from the expiration of their Income Tax Holiday (ITH): Those whose sales are generated only from the registered activity and have shifted from ITH to 5% Gross Income Tax (GIT) or Special Corporate Income Tax (SCIT) regime; and Within two (2) months from the effectivity of RMC No. 49-2022: Those enjoying 5% GIT regime but are still VAT-registered at the time [...]

REVENUE MEMORANDUM CIRCULAR NO. 21-20242024-02-17T11:51:24+08:00

Revenue Regulations No. 15-2023

2023-12-27T17:41:05+08:00

Implements the grant of Donor's Tax exemption on the donation of imported capital equipment, raw materials, spare parts, or accessories directly and exclusively used in the registered project or activity by Registered Business Enterprises (RBEs) of any existing Investment Promotion Agencies (IPAs) under Section 295 (C)(2)(e) of the Tax Code of 1997, as amended. The donation of capital equipment, raw materials, spare parts, or accessories, which were granted tax and customs duty exemption to the Technical Education and Skills Development Authority (TESDA), State Universities, and Colleges (SUCs), or Department of Education (DepEd) and Commission on Higher Education (CHED) - accredited schools [...]

Revenue Regulations No. 15-20232023-12-27T17:41:05+08:00
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