Clarifications on the extended statutory deadlines due to declaration of Alert 3 or higher in certain areas (Revenue Memorandum Circular No. 16-2022, January 31, 2022) This Tax Alert is issued to inform all concerned on the following clarifications on extended statutory deadlines for taxpayers within the jurisdictions classified under Alert Level 3 or higher for the month […]

BIR Form 2316 of employees qualified for substituted filing shall still be accepted by the BIR even without employee signature (BIR Advisory issued on January 17, 2022) This Tax Alert is issued to inform all concerned taxpayers of the relaxed rules on the submission of Certificate of Compensation Payment/ Tax Withheld for Compensation Payment With or Without […]

Relaxed rules in tax filings and payments in areas under Alert Level 3 classification (BIR Advisory issued on January 05, 2022 and Bank Bulletin No. 2022-01 dated January 05, 2022)  This Tax Alert is issued to inform all concerned taxpayers on the following relaxed rules on the tax filing and payment for taxpayers in areas covered by Alert Level 3 classification due to COVID-19:  a. Taxpayers […]

Republic Act No. 11635: Proprietary educational institutions are subject to 10% preferential income tax rate (1% from July 1, 2020 to June 30, 2023) (Signed on December 10, 2021) This Tax Alert is issued to inform all concerned on the amendment in National Internal Revenue Code relative to the income tax rate applicable to proprietary educational institutions. […]

Extended statutory deadlines for areas affected by Typhoon Odette; out-of-district filing and payment allowed (Revenue Regulations No. 22-2021 issued on December 31, 2021) This Tax Alert is issued to inform all concerned on the extended statutory deadlines and out-of-district filing and payment for taxpayers within the jurisdiction of Revenue Regions (RR) and Revenue District Offices (RDO) that […]

Postings of additional securities deposit falling due in 2021 extended until December 23, 2021 (SEC Memorandum Circular No. 11 series of 2021 issued on November 13, 2021) This Tax Alert is issued to remind all concerned on the adjusted deadline for posting additional securities deposit and substitution of securities deposit of branch offices to align the same […]

Amendments on VAT zero-rated sale of goods and services; VAT zero-rating incentive for registered business enterprises (Revenue Regulations No. 21-2021 issued on December 7, 2021) This Tax Alert is issued to inform all concerned on the amendments on VAT zero-rated sale of goods and services to registered business enterprises pursuant to Republic Act No. 11534, also known […]

Reminder on renewal of 2022 LGU registration This Tax Alert is issued to remind all concerned on the required renewal of local government unit (LGU) registration for taxable year 2022. Under the Local Government Code (LGC), all business establishments are required to renew their registration with LGUs on an annual basis on or before January 20 of […]

Reminder on request for confirmation required for availing tax treaty benefits on 2020 and prior year income payments due on December 29, 2021 (Revenue Memorandum Circular No. 77-2021 issued on June 15, 2021) This Tax Alert is issued to remind all concerned taxpayers on the requirement for availing tax treaty benefits as provided under Revenue Memorandum Order […]

Offline eBIRForms package (version 7.9.2) now available (Revenue Memorandum Circular No. 111-2021 issued on October 20, 2021) This Tax Alert is issued to inform all concerned taxpayers on the availability of the latest version of offline eBIRForms package (version 7.9.2). The new version of the eBIRForms version 7.9.2 can be downloaded from www.bir.gov.ph  and www.knowyourtaxes.ph. The new offline eBIRForms […]