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By: Atty. Sarah T. Ganto on April 5,2024 With the issuance of Revenue Memorandum Circular (“RMC”) No. 5-2024, as clarified by RMC No. 38-2024, on the taxation of cross-border services, another topic tackled by the said RMCs equally merits discussion: the taxation of reimbursements among multinational...

By: Atty. Lew Earvin Manarin on March 14,2024 The Corporate Recovery and Tax Incentives for Enterprises Act (the “CREATE Act”) introduced amendments to our National Internal Revenue Code (“Tax Code”) which were aimed to eliminate tax uncertainty, offer tax assistance to struggling enterprises...

By: Atty. Keanu P. Castañeda on March 7,2024 Republic Act No. 11976 otherwise known as the “Ease of Paying Taxes” (“EOPT”) amended Sections 204 and 229 of our National Internal Revenue Code, as amended (the “Tax Code”) and modified the rules and procedures on the claims for refund of erroneously...

By: Atty. Jigo P. Arevalo on February 28,2024 The world of international trade, particularly for agricultural products, can be a labyrinth of regulations and tariffs. Like many other countries, the Philippines navigates this intricate landscape using a system of Tariff-Rate Quotas (TRQs), specifically...

By: Atty. Nica Marsha V. Gasapo on February 22,2024. In Commissioner of Internal Revenue v. Toledo Power Corporation (G.R. No. 259309, February 13, 2023) (the “Toledo Case”), the Supreme Court overturned the findings of the Court of Tax Appeals (“CTA”) both in Division and En Banc, and held that...

By: Atty. Euney Marie J. Mata-Perez on February 15,2024 In their position paper dated February 13, 2024, representatives of certain private sector groups requested Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui to review, revisit, and reconsider the provisions of Revenue Memorandum...

By: Atty. Nica Marsha V. Gasapo on February 8,2024 The Financial Rehabilitation and Insolvency Act (“FRIA”) or Republic Act No. 10142 was enacted with the aim of offering debtors an avenue to preserve and maximize the value of their assets and prioritize claims; and, at the same time, ensuring...

By: Atty. Euney Marie J. Mata-Perez on February 2,2024 In my interview with Business Outlook last Thursday, January 24, 2024, I was asked if we are competitive as a country from a taxation point of view.  I mentioned that while there have been efforts, through tax reforms, to make the Philippines...