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By Gwendolyn Ann Banaria on April 28, 2022 The Supreme Court, in the case of Commissioner of Internal Revenue (CIR) vs Avon Products Manufacturing Inc. (decided on Oct. 3, 2018), held that the giving of a fair and reasonable opportunity to be heard is not the only aspect of due...

By Ellaine Anne Bernardino on April 21, 2022 As the May 2022 national elections fast approaches, Filipino voters should take this time to intelligently consider which candidate has the most promising platform, the ideal character and relevant track record to better the country. Political candidates have only less than a...

By Aziza Hannah Bacay on April 7, 2022 Taxes are the lifeblood of the government. Thus, Section 218 of the National Internal Revenue Code, as amended, sets out the primordial “no injunction rule” that bars courts from restraining the collection of any national internal revenue tax, fee or surcharge imposed...

By Ramon Vaughn Dy on March 31, 2022 Operating a public utility has for the longest time been limited to Filipino citizens and entities whose capital is at least 60-percent owned and controlled by Filipino citizens. Foreign equity participation also cannot exceed 40 percent of a public utility’s capital stock....

By Euney Marie Mata-Perez on March 24, 2022 In last week’s article, we discussed Revenue Memorandum Circular (RMC) 24-2022, which interpreted the rules on value-added tax (VAT) zero rating under the National Internal Revenue Code as amended by the Create Act (Republic Act 11534). Specifically, RMC 24-2002 interpreted the provisions...

By Euney Marie Mata-Perez on March 17, 2022 The Bureau of Internal Revenue (BIR) just released Revenue Memorandum Circular (RMC) 24-2022 (RMC 24-2022), which expressly confirmed that the cross-border doctrine, as applied to economic zones (ecozones) or freeport zones has been rendered ineffectual and inoperative for value-added tax (VAT) purposes....

By Ramon Vaughn Dy on March 10, 2022 Republic Act (RA) 11647, which amended the Foreign Investments Act of 1991, was finally signed into law last March 2. It introduced some significant changes aimed at easing restrictions on foreign investments to help stimulate economic growth amid the continued impact of...

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 likewise introduced the nature...

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 every three years and...