By Aziza Hannah Bacay on February 24, 2022
In 2019, the Bureau of Customs (BoC) issued Customs Administrative Order (CAO) 13-2019 to implement provisions under the Customs Modernization and Tariff Act.
Section 10 of CAO 13-2019 provides for a review of customs bonded warehouse (CBW) guidelines...
Dear Valued Clients and Friends,
We are sending you a copy of Revenue Memorandum Circular (RMC) No. 20-2022 issued by the Bureau of Internal Revenue (BIR) on February 17, 2022, providing guidance on the filing of requests for confirmation (RFC), tax treaty relief applications (TTRA) and tax sparing...
By Euney Marie Mata-Perez on February 17, 2022
The decision by the Commission on Elections’ (Comelec) First Division to junk a disqualification case against presidential candidate Ferdinand “Bongbong” Marcos Jr. recently set social media abuzz.
A statement in the decision,...
By Nica Marsha Gasapo on February 10, 2022
The Bureau of Internal Revenue (BIR) has finally issued Revenue Memorandum Circular (RMC) 19-2022, the much-awaited clarification and guidance on tax-free exchanges of properties under Section 40(C)(2) of the National Internal Revenue Code of 1997 (Tax...
By Gerardo Maximo Francisco on February 3, 2022
First of a series
On Nov. 11, 2021, the Inter-Agency Task Force for the Management of Emerging Infectious Diseases (IATF-EID) issued IATF Resolution 148-B, Series of 2021, which approved the following measure that took effect on Dec. 1, 2021:
“In...
Dear Clients and Friends,
We are happy to be sending to you a copy of our new Tax Journal which highlights significant BIR issuances, Court Decisions, and other relevant issuances from other government agencies.
https://mtfcounsel.com/wp-content/uploads/2022/02/MTF-Tax-Journal-January-2022.pdf
Should...
By Euney Marie Mata-Perez on January 27, 2022
The official campaign period for the May 2022 national and local elections will start soon and candidates will be, or perhaps have already started, soliciting campaign contributions.
The giving of campaign contributions is recognized under Batas Pambansa...
Atty. Euney Marie J. Mata-Perez, the firm’s founder and Managing Partner, was re-elected as the Executive Vice-President (EVP) and Corporate Secretary of the Financial Executives Institute of the Philippines (FINEX) at the 2022 Induction Ceremonies and Inaugural Meeting held on January 18, 2022.
This...
By Ellaine Anne Bernardino on January 20, 2022
A Letter of authority (LoA) issued by the Bureau of Internal Revenue (BIR) empowers a revenue officer (RO) to examine the books of accounts and other accounting records of a taxpayer for the purpose of collecting the correct taxes. The BIR’s...