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By Nica Marsha Gasapo on March 3, 2022 In 2021, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Order (“RMO”) No. 14-2021 and Revenue Memorandum Circular (“RMC”) No. 77-2021 which streamlined the procedure for the availment of benefits under the applicable tax treaty. These issuances...

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...

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...

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...

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...

By Nica Marsha Gasapo on January 13, 2022 PRESIDENT Rodrigo Duterte has signed into law Republic Act (RA) 11595, which amended certain provisions of the Retail Trade Liberalization Act of 2000 (RTLA). It consolidated House Bill 59 and Senate Bill 1840, which were passed by the House of Representatives...

By Euney Marie Mata-Perez on January 6, 2022 HAPPY New Year! We have hurdled 2021, which was not easy and full of challenges. Nonetheless, we continue to be grateful to have survived the year. We all are hoping that 2022 will be much better. However, with the national elections near, there...