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 […]

Venue for refund of CWT / CGT on sale of real properties (Revenue Memorandum Order No. 30-2018) This Tax Alert is issued to inform all concerned on venue for processing of claims for refund of erroneously paid Creditable Withholding Tax (CWT)/ Capital Gains Tax (CGT)on sale of real properties. To align with the venue for payment of […]

Refiling and/or amending of 1st Quarter BIR Forms 1601EQ/1601FQ by eFPS-users (BIR Tax Advisory) This Tax Alert is issued to inform all concerned on the remedy for issues encountered by eFPS users who filed the Quarterly Remittance Returns of CWT and FWT (BIR Forms 1601EQ and 1601FQ, respectively) prior to April 26, 2018 and May 3, 2018. […]

Taxation of Self-employed/Professional Individuals under TRAIN LAW This Tax Alert is issued to inform all concerned on the updated implementing rules and regulations on the taxation of self-employed and professional individuals.

Updated Rules on the Filing and Payment of Withholding Tax (Revenue Regulations No. 11-2018) This Tax Alert is issued to inform all on the following guidelines on the filing and payment of withholding taxes pursuant to Revenue Regulations No. 11-2018. New BIR Forms 0619E and 0619F were prescribed for the monthly remittance of withholding taxes.  We have […]