Submission of BIR Form 1709 and transfer pricing documentation for related party transactions now required

10 Jul 2020

This Tax Alert is issued to inform all concerned on the new BIR requirement to submit Information Return on Related Party Transactions (BIR Form 1709) and its supporting documents, as attachment to the Annual Income Tax Return (ITR), effective July 25, 2020.

VAT-exempt sales/ importations of drugs and medicines prescribed for certain diseases

10 Jul 2020

This Tax Alert is issued to inform all concerned on the implementing rules and regulations on the VAT-exemption of sale or importation of drugs and medicines pursuant to RA 11467.

RA No. 11467’s effectivity date is January 27, 2020

07 Jul 2020

This Tax Alert is issued to inform all concerned on the effectivity date of Republic Act (RA) No. 11467.

Adjustment of Deadlines for Submission of Annual Reports to the SEC and Other Announcements

01 Jul 2020

This Accounting Alert is issued to circulate the recent notices issued by the SEC to adjust the deadlines for annual reports, announce the resumption of operations in the SEC Main Office, and the temporary closure of other SEC Extension Offices.

Further extension on the deadline for filing of VAT refund claims; 90-day processing period suspended in areas still under ECQ or MECQ

01 Jul 2020

This Tax Alert is issued to inform all concerned on the further extension of due dates for filing of VAT refund claims covering taxable quarters affected by the implementation of the enhanced community quarantine (ECQ) and suspension of the 90-day processing period due to the spread of the pandemic.