Out-of-district filing and payment of taxes allowed until April 30, 2021 (Revenue Memorandum Circular No. 41-2021 and Bank Bulletin No. 2021-06 issued on March 29, 2021) This Tax Alert is issued to inform all concerned on the relaxed rules on the filing and payment of taxes until April 30, 2021. Filing of returns as well as payment […]

Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act (Republic Act No. 11534, signed on March 26, 2021) This Tax Alert is issued to inform all concerned on the significant provisions of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act or Republic Act (RA) No. 11534 as approved by President Rodrigo Duterte. This summary is […]

Extended deadline for VAT refund application falling due on March 31, 2021; suspension of 90-day processing period (Revenue Memorandum Circular No. 39-2021 issued on March 22, 2021) This Tax Alert is issued to inform all concerned taxpayers on the extended deadline for filing of application and suspension of the 90-day processing period for value-added tax (VAT) refund […]

Use of e-signatures on BIR Forms 2304, 2306, 2307 and 2316 now allowed (Revenue Memorandum Circular No. 29-2021 published on March 01, 2021) This Tax Alert is issued to inform all concerned taxpayers on the policies and guidelines for the use of electronic signature (e-signature) on certain BIR Forms/ Certificates. Withholding agents or their duly authorized representatives […]

eBIRForms Package Version 7.8 now available (Revenue Memorandum Circular No. 33-2021 issued on March 03, 2021) This Tax Alert is issued to inform all concerned taxpayers on the availability of the latest eBIRForms package (version 7.8). The new version of the eBIRForms 7.8 can be downloaded from www.bir.gov.ph and www.knowyourtaxes.ph. The new offline eBIRForms package now includes the January 2018 […]

Revised manual BIR Forms 2200-A and 2200-T now available (Revenue Memorandum Circular No. 34-2021 issued on March 03, 2021) This Tax Alert is issued to inform all concerned taxpayers on the availability of the revised manual BIR Form 2200-A (Excise Tax Return for Alcohol Products January 2020 ENCS) and BIR Form 2200-T (Excise Tax Return for Tobacco, […]

Enhanced manual BIR Form 1601-FQ now available (Revenue Memorandum Circular No. 35-2021 issued on March 03, 2021) This Tax Alert is issued to inform all concerned taxpayers on the availability of the enhanced manual BIR Form 1601-FQ (Quarterly Remittance Return of Final Income Taxes Withheld September 2020 ENCS). The enhanced form now includes the additional countries having […]

Guidelines for the shift from final to creditable system of VAT withheld on sales to government (Revenue Memorandum Circular No. 36-2021 issued on March 05, 2021) This Tax Alert is issued to inform all concerned on the guidelines for the shift from final to creditable system of VAT withheld on sales to government, or any of its […]

Reportorial requirements on the exemption from DST for qualified loans pursuant to Bayanihan to Recover as One Act (RA 11494) (Revenue Memorandum Circular Nos. 22 and 26-2021 issued on February 18, 2021 and February 24, 2021) This Tax Alert is issued to inform all concerned taxpayers on the prescribed reportorial requirements to be submitted by covered institutions’ […]

Simplified guidelines and procedures on the use of CAS/CBA and its components (Revenue Memorandum Order No. 09-2021 issued on February 19, 2021) This Tax Alert is issued to inform all concerned on simplified guidelines and procedures on the use of Computerized Accounting System (CAS), Computerized Books of Accounts (CBA), and/or its components, including Electronic Storage System (ESS), […]