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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 Tax Reform for Acceleration and Inclusion (Train) Law. The Train Law amended...

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...

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, the election of foreigners into the Board...

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...

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 106(A)(2)(a) and 108(B) of the...

By: Atty. Aziza Hannah Bacay on July 15,2021. In every tax assessment, due process requires that the Bureau of Internal Revenue (BIR) properly apprise the taxpayer of the nature of the tax liability, the amount due, and the law and basis for such assessment. To streamline due process requirements, the BIR issued...

By: Mark Anthony Tamayo on July 8,2021. All importers are mandated to exercise reasonable care in entering, classifying and determining the value of their imported goods not only for the purpose of expediting the release of their shipments from the custody of the Bureau of Customs (BoC), but more importantly,...

By Nica Marsha Gasapo on July 1, 2021 In an effort to rationalize the procedures and requirements for the availment of tax treaty benefits, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Order (RMO) 14-2021 prescribing for updated procedures on availing tax treaty benefits for non-resident foreign income earners....

By Aziza Hannah Bacay on June 24, 2021 This also speaks true for software transactions where the software may be transferred electronically, instead of delivery through variety of media, such as magnetic tape, disk, CD-ROM, and the like. Software is defined as “a program, or a series of programs, containing...