Dear Valued Clients and Friends,

We are sending to you a copy of Bureau of Internal Revenue (BIR) Revenue Memorandum Circular (RMC) No. 40-2020 dated April 8, 2020, providing for the implementing rules and regulations of Republic Act No. 11256 (An Act to Strengthen the Country’s Gross International Reserves, Amending for the Purpose Sections 32 and 151 of the National Internal Revenue Code, as Amended, and for Other Purposes).

Should you have questions on the above article, please do not hesitate to contact us at info@mtfcounsel.com.

Thank you,

Mata-Perez, Tamayo & Francisco

April 10, 2020

BIR RMC No. 40-2020
BIR RMC-No.-40-2020-IRR

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