[Updated] Monthly Filing of Expanded/Creditable and Final Withholding Tax Returns This Updated Tax Alert is issued to inform all concerned on the filing and payment deadlines for expanded/creditable withholding tax (BIR Form 1601-E/1606) and final withholding tax (BIR Form 1601-F/1602). Under the TRAIN Law (RA No. 10963), the final and creditable withholding tax returns (except for withholding […]

Regular income tax rates for employees of RHQs, ROHQs, OBUs, and Petroleum Contractors (BIR Tax Advisory) This Tax Alert is issued to inform all concerned taxpayers on the BIR’s advisory on the applicable income tax rates to employees of Regional Headquarters (RHQs) and Regional Operating Headquarters (ROHQs) of multinational companies; Offshore Banking Units (OBUs); and Petroleum Service […]

New rule on deductibility of expenses not subjected to withholding tax (Revenue Regulations No. 6-2018) This Tax Alert is issued to inform all concerned taxpayers that RR 12-2013 has been revoked and that the rule on deductibility of expenses upon payment of deficiency withholding tax has been reinstated. RR 12-2013 promulgated that no deduction will be allowed […]

This Tax Alert is issued to inform all concerned taxpayers on the extended deadline for filing and/or payment of local business tax of certain local government units (LGU’s). By virtue of their respective City Ordinances, the following are the notices of extension posted on the respective LGU’s website. 1. City of Makati The deadline of assessment of […]

Tax Reform for Acceleration and Inclusion (Filing and Compliance) This Tax Alert is issued to inform all concerned on the significant provisions of the Tax Reform for Acceleration and Inclusion (TRAIN) Act or Republic Act (RA) No. 10963 on Filing and Compliance. The summary is based on our interpretation of the provisions of the law.  […]

Tax Reform for Acceleration and Inclusion (Excise Tax) This Tax Alert is issued to inform all concerned on the significant provisions of the Tax Reform for Acceleration and Inclusion (TRAIN) Act or Republic Act (RA) No. 10963 on Excise Tax. The summary is based on our interpretation of the provisions of the law. Should there be different […]

Tax Reform for Acceleration and Inclusion (For Employees and Self-Employed/Professionals) This Tax Alert is issued to inform all concerned on the significant provisions of the Tax Reform for Acceleration and Inclusion (TRAIN) Act or Republic Act (RA) No. 10963 on taxation of employees and self-employed or professional individuals. The summary is based on our interpretation of the […]

8% reduced EWT rate for self-employed individuals and professionals (Revenue Memorandum Circular No. 1-2018) This Tax Alert is issued to inform all concerned on the change of Expanded Withholding Tax (EWT) rate for self-employed individuals or professionals to 8%, from 10%/15%, and procedures on the use of the new withholding tax table for compensation income. The required […]

DST transactions covering Jan. 1 to 5, 2018 BIR Tax Advisory) This Tax Alert is issued to inform all concerned on the use of electronic Documentary Stamp Tax (eDST) system for documentary stamp tax (DST) transactions covering the period January 1 to 5, 2018. Pursuant to RA 10963 (TRAIN LAW), all DST rates, except on transfer of […]

Tax Reform for Acceleration and Inclusion (Republic Act No. 10963) This Tax Alert is issued to inform all concerned on ​​t​​he ​significant provisions of the Tax Reform for Acceleration and Inclusion (TRAIN) Act ​or ​Republic Act (RA) No. 10963 as approved and vetoed for certain items by President Rodrigo Duterte. The summary is based on […]