Tax in a Dot

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Tax in a dot

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These publications are prepared by our local Deloitte professionals on recent tax provisions and updates in the Philippines.

Recent alerts appear on this page. For older issues, please email a request to phtaxpublications@deloitte.com

2017

Tax in a Dot (20 January 2017)Revenue Regulations No. 01-2017 - Non-retroactive effect of "deemed denial" rule on VAT claims (Revenue Regulations No. 01-2017).

2016

Tax News (April 2016): BIR Issuances - Tax payments through credit cards

Tax in a Dot (28 March 2016): The Bureau of Internal Revenue (BIR) issued guidelines on the acceptance of income tax returns by authorized agent banks (AABs) relative to the 2016 income tax filing period (BIR Bank Bulletin No. 2016-09)

Tax in a Dot (22 March 2016): The BIR has released eBIRForms Package Version 6.0, which introduced modifications to the earlier version (RMC 35-2016)

Tax News (March 2016): BIR Issuances - Guidelines on the issuance of ATRIGs for imported automobiles released from customs custody

Tax in a Dot (22 March 2016): Release of eBIRForms Package version 6.0

Tax in a Dot (7 March 2016): AABs to accept tax returns on March 19 and April 02 and extend their banking hours up to 5 pm from April 1 to 15, 2016 (Bank Bulletin No. 2016-05)

Tax in a Dot (19 February 2016): New RELIEF Data Entry and Validation Module version 2.2 now available

Tax in a Dot (18 February 2016): Decentralized processing and issuance of Certificate of Internal Revenue Tax Payments (Revenue Memorandum Order No. 7-2016)

Tax in a Dot (18 February 2016): Reminder on submission of BIR Form 2316 (Revenue Memorandum Order No. 24-2015).

Tax News (February 2016): BIR Issuances - Tax treatment of NSSLAs - The Bureau of Internal Revenue (BIR) issued the following clarification on the taxability of non-stock savings and loan associations (NSSLAs) for income tax, gross receipts tax (GRT), and documentary stamp tax (DST).

Tax in a Dot (26 January 2016): Simplified processing of compromise settlement and abatement cases (Revenue Memorandum Order No. 4-2016).

Tax News (January 2016): BIR Issuance - Clarification on the VAT exemption of international carriers and sale, importation, or lease of cargo vessels and aircrafts.

2015

 

Tax in a Dot (14 April 2015): FAQs on filing of ITRs under eFPS/eBIRForms (Revenue Memorandum Circular No. 19-2015)

Tax in a Dot (11 April 2015): Reminders to taxpayers who used Offline eBIRForms Package 4.7.07 (Revenue Memorandum Circular No. 17-2015 and Annex D of RMC 14-2015)

Tax in a Dot (11 April 2015): Deferment of eFiling of “No Payment” ITRs (Revenue Memorandum Circular No. 18 -2015)

Tax in a Dot (11 April 2015): ITR filing guidelines for newly-enrolled eFPS taxpayers with pending AAB registration (Revenue Memorandum Circular No. 18-2015)

Tax in a Dot (8 April 2015): Modes of obtaining the Offline eBIRForms Package (Revenue Memorandum Circular No. 16-2015)

Tax in a Dot (8 April 2015): Deferred eFiling of withholding tax returns (Revenue Memorandum Circular No. 15-2015)

Tax in a Dot (7 April 2015): Guidelines in the filing of ITRs by taxpayers mandated to use eFPS/eBIRForms (Revenue Memorandum Circular No. 14-2015)

Tax News (April 2015): Taxpayers required to file their tax returns using the electronic filing and payment system (eFPS) or electronic Bureau of Internal Revenue (BIR) Forms (eBIRForms) who failed to do so shall be subject to a penalty of P1,000 per return.

Tax in a Dot (1 April 2015): Further deferment of ITR disclosure requirement (Revenue Memorandum Circular No. 13-2015, March 31, 2015)

Tax in a Dot (30 March 2015): Clarification on the filing of no payment returns (Revenue Memorandum Circular No. 12-2015)

Tax in a Dot (16 March 2015): Guidelines for Php82,000 tax-exempt bonuses (Revenue Regulations No. 3-2015)

Tax in a Dot (12 March 2015): Guidelines on acceptance of ITRs by AABs (Bank Bulletin No. 2015-03)

Tax in a Dot (10 March 2015): Revenue Regulations No. 2-2015 was published on March 6, 2015, and it shall become effective after fifteen days from its publication on March 21, 2015. Please see copy of Revenue Regulations 2-2015 for the detailed requirements and procedures:

Tax News (6 March 2015): Republic Act No. (RA) 10653 increases the tax-exempt ceiling on 13th month pay and other benefits from P30,000 to P82,000. The P82,000 tax-exempt ceiling covers the 13th month pay and other benefits, such as productivity incentives and Christmas bonus received by employees.

Tax in a Dot (4 March 2015): Under Revenue Regulations (RR) No. 10-2014, the BIR has made it mandatory for taxpayers under the Taxpayer Account Management Program (TAMP) to file their returns and pay taxes through the Electronic Filing and Payment System (eFPS).

Tax in a Dot (12 February 2015): The President signed into law today the legislative measure increasing the tax-exempt ceiling for 13th month pay and other benefits from P30,000 to P82,000.

Tax in a Dot (6 February 2015): The BIR has required authorized agent banks (AABs) to accept tax returns/payments on two (2) Saturdays immediately prior to April 15, 2015, i.e., on March 28, 2015 and April 11, 2015. Banking hours shall also be extended from 3:00 pm to 5:00 pm from April 1 to April 15, 2015 for purposes of accepting tax returns and payments. For your reference and guidance, please see here.

Tax News (5 February 2015): The Bureau of Internal Revenue (BIR) has expanded the list of de minimis benefits that are exempted from income tax on compensation to include benefits under collective bargaining agreements (CBAs) and productivity incentive schemes.

Tax News (6 January 2015): The BIR has made it mandatory for taxpayers under the Taxpayer Account Management Program (TAMP) and accredited importers/customs brokers to file their returns and pay taxes through the Electronic Filing and Payment System (eFPS).

Tax in a Dot (6 January 2015): The BIR has expanded the list of tax-exempt de minimis benefits by including benefits received by employees under collective bargaining agreements (CBAs) and productivity incentive schemes with total value not exceeding P10,000 per employee per taxable year.

 

2014

  • Tax in a Dot (12 December 2014): The SEC has issued the schedule of filing of the annual financial statements (AFS) and general information sheet (GIS) in 2015 by companies whose fiscal year ends on December 31, 2014
  • Tax in a Dot (11 December 2014): The BIR has further expanded the coverage of taxpayers required to file returns and pay taxes through the Electronic Filing and Payment System (eFPS)
  • Revenue Regulations (RR) No. 10-2014 (10 December 2014): Amending Further Section 3 of Revenue Regulations (RR) No. 9-2001, as amended, Expanding the Coverage of Taxpayers Required to File Returns and Pay Taxes through the Electronic Filing and Payment System (eFPS)
  • SEC Memorandum Circular No. 23 (9 December 2014): The SEC has issued the schedule of filing of the annual financial statements (AFS) and general information sheet (GIS) in 2015 by companies whose fiscal year ends on December 31, 2014
  • Tax News (December 2014): BIR Revenue Memorandum Circular, CTA Decisions, SEC Memorandum Circulars
  • Revenue Memorandum Circular (RMC) No. 87-2014 (5 December 2014): The BIR announced the suspension of all audit and field operations this holiday season. The suspension shall commence from December 16, 2014 to January 4, 2015, except in some cases
  • Tax in a Dot (30 July 2014): The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 60-2014, dated July 24, 2014, clarifying that the requirement to present tax exemption certificate or ruling pursuant to RMC No. 8-2014 does not apply to General Professional Partnerships (GPP)
  • Tax in a Dot (8 July 2014): The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 54-2014 clarifying the issues relative to the Application for Value Added Tax (VAT) Refund/Credit
  • Tax in a Dot (24 June 2014): In the Court of Tax Appeals (CTA) decision, Case No. 8382 promulgated last June 3, 2014, the CTA has ruled that condominium dues are not subject to expanded withholding tax (EWT)
  • Tax in a Dot (16 April 2014): Due to the volume of taxpayers filing/paying through eFPS on April 15, 2014, the Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 28-2014 to inform taxpayers and all other persons concerned that the penalties attendant to the late filing of returns and payment of the income taxes for the year ended December 31, 2013 and quarter ended March 31, 2014 are waived. The waiver strictly covers eFPS-registered taxpayers and provided that the tax returns are filed on April 16, 2014
  • Tax in a Dot (7 April 2014): The Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Circular (RMC) No. 20-2014 to provide guidelines in the filing, receiving, and processing of taxable year 2013 Income Tax Returns (ITRs) BIR Form Nos. 1700, 1701, 1702-RT, 1702-EX, and 1702-MX
  • Tax in a Dot (25 March 2014): In its efforts to enjoin self-employed professionals to comply with the requirements on registration and issuance of official receipts and invoices, the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 4-2014 providing policies and guidelines for purposes of monitoring the fees charged by the professionals, aid the BIR personnel in conducting tax audit and boost revenue collections in such sectors
  • Tax in a Dot (13 February 2014): Revenue Memorandum Circular (RMC) No. 9-2014 dated February 11, 2014 further amends RMC No. 57-2011 entitled “Revised Forms No. 1700, 1701,and 1702”. The Bureau of Internal Revenue (BIR) has again suspended the implementation of the Supplemental Information disclosure requirement for individuals who are obliged to file their income tax returns (BIR Form Nos. 1700 and 1701) on or before April 15, 2014
  • Tax in a Dot (6 February 2014): The Bureau of Internal Revenue (BIR) has issued Revenue Regulations (RR) No. 2-2014 dated on January 24, 2014 prescribing the new BIR Forms that will be used for income tax returns (ITRs) filing covering and starting with the taxable year ended December 31, 2013
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