Implementing rules and regulations of tax amnesty on delinquencies (Revenue Regulations No. 4-2019) This Tax Alert is issued to inform all concerned on the implementing rules and regulations of the Title IV (Tax Amnesty on Delinquencies) of the Tax Amnesty Act (RA 11213) which took effect today, April 24, 2019. Pursuant to Revenue Regulations No. 04-2019, the […]

New annual income tax and capital gains tax returns This Tax Alert is issued to inform all concerned on the newly issued annual income tax returns (BIR Form Nos. 1700, 1702-RT and 1701-EX) and capital gains tax return (BIR Form No. 1707). Aligned with the TRAIN Law’s requirement for simplified individual and corporation returns, the BIR issued […]

Extended Deadline for Submission of 2018 Alphalist of Employees/Payees using the New Validation Data Entry and Validation Module This tax alert is issued to inform all on the extended deadline for submission of Alphabetical List of Employees/Payees from whom Taxes Were Withheld for taxable year 2018. Pursuant to the Tax Advisory issued today, the deadline for submission […]

The Proposed Tax Amnesty Act This Tax Alert is issued to inform all concerned of the salient provisions of the proposed “Tax Amnesty Act” as approved by the bicameral conference committee. The enrolled bill will be submitted to the President for his approval and signature. If the President does not take any action, the bill will become […]

Reversing the taxation of health card premiums and director’s fees under RMC 50-2018 (Revenue Memorandum Circular No. 96-2018, November 29, 2018) Pursuant to RMC 96-2018, premiums paid for group health insurance shall not be subjecto to Withholding Tax on Compensation nor Fringe Benefits Tax (FBT).  Director’s fees, on the other hand, shall not be subject […]

List of Existing and New Top Withholding Agents (BIR Advisory, October 08, 2018)                  This tax alert is issued to inform all concerned taxpayers on the publication of the BIR’s list of top withholding agents. On October 8, 2018, the BIR published in Malaya Business Insight the list of existing […]

New withholding tax treatment of premiums on health card of employees (Revenue Memorandum Circular No. 50-2018)   Under RMC No. 50-2018, a new tax treatment was prescribed for premium on health card paid by the employers for their employees. The premium on the health card under a group insurance, whether paid for rank and file […]

BIR clarifies imposition of 12% interest on unpaid taxes (Revenue Regulations No.  21-2018, September 14, 2018)   Pursuant to the TRAIN law, the interest on deficiency and delinquency taxes shall be double the effective legal interest.  In RR 21-2018, the BIR clarifies the following:  The deficiency interest shall be 12% per year which is double […]

Amended rules on the issuance of eLAs for “small” taxpayers category (Revenue Memorandum Order No. 34-2018, August 1, 2018) This Tax Alert is issued to inform all concerned on the amended coverage and thresholds for the issuance of electronic Letters of Authority (eLAs) by the BIR to individual and non–individual taxpayers belonging to the “small” taxpayers category. […]

Policies and procedures in the issuance of ATCA (Revenue Memorandum Order No. 33-2018, July 12, 2018) This Tax Alert is issued to inform all concerned on the consolidated policies and guidelines in the issuance of Authority to Cancel Assessment (ATCA), pursuant to Revenue Memorandum Order No. 33-2018. The policies on the issuance of the ATCA were issued […]