[Full text of Revenue Memorandum Circular No. 61-2020 issued by the Bureau of Internal Revenue (BIR), providing for further extension of deadline on availment of tax amnesty on delinquencies from from 22 June 2020 to 31 December 2020.]
Continue readingThe Bureau of Internal Revenue (BIR) gave notice, through Revenue Memorandum Circular No. 60-2020, to all persons engaged in online selling, or conducting business transactions through any forms of electronic media, to register their respective businesses and pay the appropriate taxes — not later than 31 July 2020. Online sellers are also given notice to declare past sales and pay the appropriate taxes, without penalties, if done not later than 31 July 2020. The registration guidelines and requirements, for both individual and juridical online sellers, are discussed below.
Continue readingThe Tax Amnesty Act (Republic Act No. 11213), signed into law on 14 February 2019, provides for a one-time opportunity to settle estate tax obligations through an estate tax amnesty program that will give reasonable tax relief to estates with deficiency estate taxes. In other words, it provides a clean slate for taxpayers with existing estate tax delinquencies. Here is an introduction to the Tax Amnesty Act, in conjunction with Revenue Regulation No. 6-2019 issued by the Bureau of Internal Revenue (BIR).
Continue readingThe President has issued a directive for the issuance of guidelines on the interruption of periods for the filing of documents, payment of taxes and other fees, and cancellation of proceedings by reason of the community quarantine. Note that a “community quarantine” may refer to a general community quarantine or an enhanced community quarantine.
Continue reading[There are a number of ways the government can release financial assistance or social amelioration programs during the Enhanced Community Quarantine (ECQ) brought about by the Coronavirus Disease 2019 (COVID-19). The government may directly release cash to recipients. The government can also encourage the private sector to donate, and consider the donation as deductions for purposes of computing the taxes payable by the donor. For this purpose, the Bureau of Internal Revenue (BIR) issued Revenue Regulations No. 9-2020 dated 6 April 2020. Text reproduced below.]
Continue reading[The Bureau of Internal Revenue (BIR) extended, from 15 April 2020 to 15 May 2020, the filing and payment of annual income tax returns. Here is the full text of Revenue Memorandum Circular No. 28-2020.]
Continue reading[Republic Act No. 11213, also known as the “Tax Amnesty Act”, was signed by the President on 14 February 2019. The provisions vetoed by the President are indicated in the full text, below.]
Continue readingThe Bureau of Internal Revenue (BIR) issued, on 31 January 2018, Revenue Regulations No. 11-2018, concerning withholding income tax, to implement the changes under Republic Act No. 10963, also known as the “Tax Reform for Acceleration and Inclusion (TRAIN)” Law. RR 11-2018 amends certain provisions of Revenue Regulations No. 2-98, as amended. The regulations cover, among others, taxpayers categorized as top withholding agents. Continue reading
Be it enacted by the Senate and House of Representatives of the Philippines in Congress assembled:
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