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 […]

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 […]