One-year validity for tax clearance of government bidders

08 Dec 2016

This Tax Alert is issued to inform all concerned on the latest amendments of guidelines for tax clearance of government bidders as required under Executive Order (EO) 398. The tax clearance shall be valid for one (1) year, stretched from its previous six (6) month validity. As an additional condition, the applicant should not be tagged as “Cannot Be Located” taxpayer.

Certification on zonal values devolved to RDOs

08 Dec 2016

This Tax Alert is issued to inform all concerned on the easement of getting certification of zonal values of real properties. Certificate of zonal values of real properties can now be issued by Revenue District Offices (RDOs). The certificate is used in the computation of the estate, donors and capital gains tax for the issuance of the certificate authorizing registration (CAR) to transfer the properties to the new owners

Accounting for netting/offsetting arrangements

07 Dec 2016

This Tax Alert is issued to inform all concerned that suspension of RMC 61-2016 is now lifted and will be in effect immediately. RMC 61-2016 prescribes the accounting and recording of transactions involving “netting” or “offsetting” arrangements.

Tax treatment of passed-on GRT

07 Dec 2016

This Tax Alert is issued to inform all concerned that suspension of RMC 62-2016 is now lifted and will be in effect immediately. Clarifications are issued on the proper tax treatment of passed-on Gross Receipts Tax (GRT) by banks and non-bank financial intermediaries (NBFIs).

November 2016 issue

02 Dec 2016

Click on the attachment below to read the November 2016 Issue of the Tax brief: a monthly publication about developments in Philippine taxation.