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By Euney Marie Mata-Perez on April 5, 2018 Value-added tax, or VAT, is not a singular-minded tax on every transactional level. Its assessment bears direct relevance to the taxpayer’s role or link in the production chain. Thus, its imposition is intimately related to the regularity and consistency...

By Euney Marie Mata-Perez on March 29, 2018 The TRAIN, or the Tax Reform for Acceleration and Inclusion Law (Republic Act No. 10963), provided some relief or good news to us, taxpayers. It lowered the 20 percent deficiency and delinquency interests to double the legal interest for loans or forbearance...

By: Euney Marie J. Mata-Perez on March 22, 2018 Estate tax is one of the lowest performers in our tax system. Payable six months after death – now extended to one year under the Tax Reform for Acceleration and Inclusion (TRAIN) – the tax is often paid late. The lack of liquid cash to pay the previous...

by Atty. Mark Anthony Tamayo (Last of two parts) In last week’s article, we discussed briefly the link between transfer pricing (TP) and the customs valuation rules and the possible customs and tax implications of related party transactions. One of the conditions on the acceptability of a declared...

by Atty. Mark Anthony Tamayo (First of two parts) Corporate taxpayers who source imported goods from related foreign suppliers should ensure that they do not only comply with transfer pricing (TP) rules but also with the rules pertaining to the valuation of imported goods for customs purposes. Both...

by Atty. Mark Anthony Tamayo The Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC), both attached agencies of the Department of Finance (DOF), are the country’s main revenue collecting agencies. The government relies heavily on them to fund its various expenditures. Their yearly collection...

By Atty. Euney Mata-Perez Today is a good and exciting day for our law firm. Beginning today and every Thursday, we have the privilege (thank you, The Manila Times!) of being able to share and write here about our work and passion – the law. We love the law because its intention is noble – it aims...

MTF Partner and customs law expert, Atty. Mark Anthony P. Tamayo, was inducted as a new member of the Tax Management Association of the Philippines, during the TMAP induction and membership meeting held last January 25, 2017. BIR Commissioner Cesar R. Dulay was the guest speaker and inducting officer...