Tax Notes
EOPT is here: Revised rules on tax filing and payment and matters affecting the declaration of taxable income
The Bureau of Internal Revenue (BIR) has released a series of Revenue Regulations (RR) for the implementation of Republic Act No. 11976, otherwise known as the Ease of Paying Taxes Act (EOPT). This edition of Tax Notes discusses the matters on relating to the declaration of taxable income, highlighting the removal of withholding requirement and the definition of “payable” for withholding tax purposes covered under RR No. 4-2024, as posted by the BIR on April 12, 2024.