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BIR’S POWER TO OBTAIN INFORMATION

By Aziza Hannah Bacay on September 16, 2021 The Bureau of Internal Revenue (BIR) has the power to ascertain the correctness of the returns filed by the taxpayers and to determine any liability for internal revenue tax. Corollary to such power, the BIR is empowered and has the authority to obtain...

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THE TAX PRICE OF BEING AN INFLUENCER

By Euney Marie Mata-Perez on September 9, 2021 RECENTLY, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) 97-2021, reminding social influencers about their tax obligations. It reminded them to register as taxpayers and report their income properly, as well as provided...

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DISPENSING WITH THE BOND REQUIREMENT

By Aziza Hannah Bacay on September 2, 2021 As part of its collection efforts, the Bureau of Internal Revenue (BIR) can use summary administrative remedies such as warrants of distraint and/or levy (WDLs) against delinquent taxpayers. Implementation of these presupposes that the taxpayer failed...

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THE PITFALLS OF UNTRUTHFUL RETURNS AND DECLARATIONS

By Mark Anthony Tamayo on August 26, 2021 It is the basic duty and responsibility of every taxpayer and importer to provide truthful tax returns and import declarations. Taxpayers are responsible for accurately determining their taxable incomes, computing their tax liabilities and submitting...

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TAKING TAX EVASION SERIOUSLY

By Nica Marsha Gasapo on August 19, 2021 The Bureau of Internal Revenue (BIR) recently issued Revenue Regulations (RR) 13-2021, which implement amendments to the National Internal Revenue Code of 1997’s (the “Tax Code”) penalty provisions as amended by Republic Act 10963 or the...

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NEW ESTATE TAX AMNESTY AND QUARANTINE BIR REGULATIONS

By Euney Marie Mata-Perez on August 12, 2021 To the relief of many taxpayers, Republic Act (RA) 11569 was passed amending RA 11213 (Tax Amnesty Act) and extending the availment of the tax amnesty to June 14, 2023. In accordance thereto, the Bureau of Internal Revenue (BIR) issued Revenue Regulations...

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FOREIGN DIRECTORS IN NATIONALIZED CORPORATIONS

By Ellaine Anne Bernardino on August 5, 2021 Corporations engaged in business activities reserved for Philippine nationals where foreign equity shall be limited to that prescribed by the Constitution and other existing laws are also known as wholly or partially nationalized corporations. Accordingly,...

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INCENTIVES TO WINNING NATIONAL ATHLETES

By Euney Marie Mata-Perez on July 29, 2021 I cannot not write about this, because the nation is still in euphoria, and so am I. It took a woman and a fellow Zamboangueño, Hidilyn Diaz, to bag our country’s first-ever Olympic gold medal. Her victory was not accidental. It was the product...

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REVISITING THE IMPOSITION OF VAT ON INDIRECT EXPORTS

By Euney Marie Mata-Perez on July 22, 2021 There have been so many discussions on the promulgation of Revenue Regulations 9-2021 (RR 9-2021) that implemented certain amendments introduced by Republic Act (RA) 10963 or the “Tax Reform for Acceleration and Inclusion” (Train) Law to Sections...

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