Imposition of penalties for failure to file returns under electronic systems of the BIR by taxpayers covered by eFPS and eBIRForms (Revenue Regulations No. 5-2015) The BIR clarified the coverage of non-eFPS filers who shall mandatorily use the or Electronic Bureau of Internal Revenue Forms (eBIRForms) facility by electronically submitting and filing all tax returns […]
Author Archive: Sysadmin
P82,000 tax exemption for bonuses applies beginning January 1, 2015
P82,000 tax exemption for bonuses applies beginning January 1, 2015 (Revenue Regulations No. 3-2015) It’s official. The P82,000 tax exemption allowance will apply on all 13th month pay and other benefits paid or accrued beginning January 1, 2015. The increased ceiling was enacted via Republic Act No. 10653. The RR reiterated that the exemption allowance […]
Effectivity of RR 2-2015
Effectivity of RR 2-2015 RR 2-2015 requires that, for large taxpayers, CWT certificates to be attached to the SAWT/ITRs should be in scanned/PDF copies and stored in DVD-R. (See Tax Bulletin dated March 10 ) The RR was published on March 6, hence effective on March 21, 2015 (15 days after). This means that the […]
Submission of scanned copies of Form 2307 and 2316
Submission of scanned copies of Form 2307 and 2316 in lieu of hard copies eFPS/electronic submission of SAWT (Revenue Regulations (RR) No. 2-2015) Large taxpayers are now required to submit scanned copies of Certificate of Creditable Tax Withheld at Source (BIR Form No. 2307) and Form 2316 (Certificate of Compensation Tax Withheld) , in lieu […]
Sample Post 2
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Sample Post 1
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P82,000 tax exemption allowance for bonuses
P82,000 tax exemption allowance for bonuses (Republic Act No.10653) President Aquino signed into law Republic Act 10653 which increased to P82,000 the tax exemption allowance for other benefits given to employees such as the Christmas bonus and productivity incentives. The old threshold was only P30,000. The new law also mandates the President to adjust this […]
Sample Publication
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PEZA importers are exempt from BIR ICC/BCC
PEZA importers are exempt from BIR ICC/BCC (Revenue Memorandum Circular No. 4-2015, January 5, 2015) PEZA locators shall now be eligible for accreditation as importers with the Bureau of Customs Account Manager (BoC-AMO) without the need to secure an importer’s clearance certificate (ICC) or a customs broker’s clearance certificate (BCC). However, the BoC may still […]
Extension of filing deadlines for NCR taxpayers
Extension of filing deadlines for NCR taxpayers (Bank Bulleting No. 2015-01) The Bureau of Internal Revenue (BIR) has officially announced that tax returns due on Jan 15, 16 and 19 for taxpayers in the National Capital Region where work has been suspended may be filed on Jan 20. For Tacloban City taxpayers, the Jan 15 […]