Employees to file own registration information update (Revenue Regulations No. 1-2020, January 09, 2020) This Tax Alert is issued to inform all concerned on the amended guidelines in updating registration information of employees. Pursuant to RR 1-2020, application for any change in the registration information (BIR Form 1905) shall be filed by the employee in the RDO […]

Year-end tax compliance and other reportorial reminders This Tax Alert is issued to remind all concerned on the year-end tax compliance requirements, as follows: Compliance requirements for the calendar year (CY) ended December 31, 2019: Compliance Requirement Deadline Concerned Agency/Recipient a.     Bound, Loose-leaf books of accounts and other accounting records for CY 2019 January 15, 2020 Bureau […]

Submission of Sworn Declaration of Inventory by all Gasoline Stations (Revenue Memorandum Circular No. 02-2020, January 03, 2020) This Tax Alert is issued to inform all concerned on the additional submission required for all gasoline stations in relation to the BIR’s Fuel Marking Program. Pursuant to RMC No. 02-2020, all gasoline stations are required to submit a […]

Update on the inclusion of taxpayers as top withholding agents (TWAs) (Revenue Memorandum Circular No. 143-2019) This Tax Alert is issued to inform all concerned on the clarifications pertaining to the inclusion of taxpayers as top withholding agents (TWAs) who are required to withhold 1% and 2% on purchases of goods and services, respectively. The following taxpayers […]

Availability of enhanced BIR Forms 1601-EQ and new 1602Q (Revenue Memorandum Circular No. 139-2019) This Tax Alert is issued to inform all concerned on the newly issued BIR Form 1602Q and enhanced BIR Form 1601-EQ, in relation to the implementation of the TRAIN Law (RA 10963). The newly issued BIR Form 1602Q shall be used by banks […]

New List of Additional and Delisted Top Withholding Agents (Revenue Memorandum Circular No. 136-2019, December 19, 2019) This Tax Alert is issued to inform all concerned on the publication of BIR’s lists of additional and delisted Top Withholding Agents last December 16, 2019. The list is based on the amended criteria in determining the Top Withholding Agents […]

Use of old version of BIR Form Nos. 2306, 2307, and 2316 (Revenue Memorandum Circular No. 126-2019, November 28, 2019)    This Tax Alert is issued to inform all concerned on the clarifications regarding the use of old version of BIR Form Nos. 2306, 2307, and 2316 (BIR Certificates). Taxpayers who generate BIR Form Nos. 2306, 2307, and […]

Updates on the filing and payment of estate tax (Revenue Regulations No. 8-2019) This Tax Alert is issued to inform all concerned on the following amendments on the filing and payment of estate tax under the TRAIN law: Succeeding installment payments of estate tax after the filing/ first payment through the estate tax return shall now be […]

New criteria in determining Top Withholding Agents (Revenue Regulations No. 7-2019) This Tax Alert is issued to inform all concerned on the amended criteria in determining the Top Withholding Agents (TWAs) required to withhold 2% and 1% on purchases of services and goods, respectively. Pursuant to RR No. 07-2019, TWAs shall refer to those taxpayers whose gross […]

Reminder on the invoicing requirements (Revenue Memorandum Circular No. 55-2019) This Tax Alert is issued to remind all concerned on the meaning of “business style” required to be indicated in the official receipts and invoices. As clarified under RMC No. 55-2019, the required “business style” in the receipts/invoices refers to the business name registered with the concerned […]