BIR audit and field operations suspended from December 16, 2022 to January 8, 2023

27 Dec 2022

This Tax Alert is issued to inform all concerned on the suspension of all field audit and field operations of the Bureau of Internal Revenue (BIR) starting December 16, 2022 until January 8, 2023 relative to examinations and verifications of taxpayers’ books of accounts, records and other transactions.

Updated withholding tax provisions on the refund and interest income on the refund paid by MERALCO and other DUs

27 Dec 2022

This Tax Alert is issued to inform all concerned on the updated withholding tax rules on refunds and the related interest income payable by MERALCO and other electric Distribution Utilities (DUs).

2023 Tax Calendar

27 Dec 2022

As we inch closer toward the start of another colorful year, we are excited to announce the release of the P&A Grant Thornton 2023 Tax Calendar. We have meticulously curated the look, feel, and content of our latest calendar in line with our goal of making tomorrow more vibrant through our bold, divergent undertaking and our strong resolve to forge new paths with stakeholders and our valued clients. Thank you for your utmost trust and support.

New Schedule of Social Security (SS) Contributions Effective January 2023

20 Dec 2022

Pursuant to Republic Act No. 11199 or the Social Security Act of 2018 which includes a provision that increases the SS contribution rate to 14% for the calendar year 2023, with a minimum Monthly Salary Credit (MSC) to P4,000, and the maximum MSC to P30,000. The new schedule of contributions of ER and EE is hereby issued and will take effect for the applicable month of January 2023 as per Social Security Commission (SSC) Resolution No. 751-s.2022 dated 25 November 2022.

Implementation of the 4.5% Contribution Rate and Salary Cap for the Year 2023, In Accordance with the Schedule Provided in Section 10 of Republic Act No. 11223 or the "Universal Health Care Act"

20 Dec 2022

With reference to the request for guidance on the implementation of the PhilHealth premium increase of 4.5% for Calendar Year 2023, with an income floor of P10,000 and income ceiling of P90,000, it is advised that pursuant to Section 10 of Republic Act (RA) No. 11223 or the "Universal Health Care Act", the increase in the rates of contribution and income ceiling shall carry on as scheduled.