Tax treatment of equity-based compensation and reportorial requirements (Revenue Memorandum Circular No. 143-2022, issued on November 9, 2022) This Tax Alert is issued to inform all concerned on clarifications of issues relating to the income tax treatment of equity-based compensation pursuant to Revenue Regulations (RR) No. 13-2022. Effectivity of RR No. 13-2022 RR No. 13-2022, which […]
Category Archives: Tax Alerts
30:70 WFH arrangement for IT-BPM RBEs extended until December 31, 2022; transfer of registration from PEZA to BOI of existing RBEs in the IT-BPM sector allowed
30:70 WFH arrangement for IT-BPM RBEs extended until December 31, 2022; transfer of registration from PEZA to BOI of existing RBEs in the IT-BPM sector allowed (FIRB Resolution No. 026-2022, dated 14 September 2022) (PEZA Memo Circular No. 2022-066, dated 06 October 2022) This Tax Alert is issued to inform all concerned taxpayers on the extension of […]
Guidelines on the Transfer of Registration of Existing Registered Business Enterprises (RBEs) in the Information Technology-Business Process Management Sector to Board of Investments (BOI)
Tax Alerts Guidelines on the Transfer of Registration of Existing Registered Business Enterprises (RBEs) in the Information Technology-Business Process Management Sector to Board of Investments (BOI) (DTI Memorandum Circular No. 22-19, issued on October 18, 2022 FIRB Advisory 008-2022, dated October 19, 2022 PEZA Memorandum Circular No. 2022-067, dated October 21, 2022 PEZA Memorandum Circular […]
Equity-based compensation paid to either rank-and-file and managerial/supervisory employees are subject to withholding tax on compensation
Equity-based compensation paid to either rank-and-file and managerial/supervisory employees are subject to withholding tax on compensation (Revenue Regulations No. 13-2022, issued on October 07, 2022) This Tax Alert is issued to inform all concerned on the income tax treatment of equity-based compensation received by grantee-employees. Any kind of equity-based compensation, such as stock options, restricted share awards, […]
Filing and payment of BIR Forms 2550M, 2550Q and 2551Q, as well as submission of reportorial documents due on September 26, 2022, extended to September 27, 2022
Filing and payment of BIR Forms 2550M, 2550Q and 2551Q, as well as submission of reportorial documents due on September 26, 2022, extended to September 27, 2022 (Revenue Memorandum Circular No. 130-2022, issued on September 26, 2022) This Tax Alert is issued to inform all concerned taxpayers on the extension of filing and payment of returns, and […]
Clarifications on the removal of the 5-year validity period on receipts/invoices
Clarifications on the removal of the 5-year validity period on receipts/invoices (Revenue Memorandum Circular No. 123-2022, issued on August 31, 2022) This Tax Alert is issued to inform all concerned of the clarifications on the removal of the 5-year validity period on all manual and system generated principal and supplementary invoices and receipts pursuant to Revenue Regulations […]
Lifting of suspension of field audit and other field operations
Lifting of suspension of field audit and other field operations (Revenue Memorandum Circular (RMC) No. 121-2022, issued on August 22, 2022) This Tax Alert is issued to inform all concerned on the lifting of the suspension of the field audit and other field operations on all outstanding Letters of Authority/Audit Notices and Letter Notices per request of […]
Suspension of the conduct of TCVD now lifted
Suspension of the conduct of TCVD now lifted (Revenue Memorandum Circular No. 115-2022 issued on July 28, 2022) This Tax Alert is issued to inform all concerned on the lifting of the suspension of the issuance of Mission Orders (MOs) insofar as authorizing Revenue Officers to conduct Tax Compliance Verification Drive (TCVD). Previously, pursuant to RMC 77-2022, […]
FIRB now allows 30% of the total workforce of RBEs in the IT-BPM sector to work offsite from April 1, 2022 until September 12, 2022
FIRB now allows 30% of the total workforce of RBEs in the IT-BPM sector to work offsite from April 1, 2022 until September 12, 2022 (Revenue Memorandum Circular No. 102-2022, issued on July 19, 2022) This Tax Alert is issued to inform all concerned on the resolution of the Fiscal Incentives Review Board (FIRB) further allowing Registered […]
Temporary measures to support BOI registered RBEs which were adversely affected by Typhoon Odette
Temporary measures to support BOI registered RBEs which were adversely affected by Typhoon Odette (Revenue Memorandum Circular No. 103-2022, issued on July 19, 2022) This Tax Alert is issued to inform all concerned on the granting by the Fiscal Incentives Regulations Board (FIRB) to the Board of Investments (BOI) authority to implement temporary measures for Registered Business […]