Clarifications on the revised guidelines and procedures for availing tax treaty benefits

25 Jun 2021

This Tax Alert is issued to inform all concerned taxpayers on the significant clarifications on the revised guidelines and procedures for availing tax treaty benefits provided under Revenue Memorandum Order (RMO) No. 14-2021.

VAT zero-rated transactions now subject to 12% VAT

15 Jun 2021

This Tax Alert is issued to inform all concerned on the amendments to Revenue Regulations (RR) No. 16-05, as amended by RR No. 13-18 and RR 26-18, imposing 12% VAT on certain transactions previously subject to 0% VAT upon satisfaction of certain conditions provided under Republic Act No. 10963, also known as the TRAIN Law.

VAT exemption threshold on sale of house and lot, and other residential dwellings updated to P3,199,200; Importation of certain goods to fight COVID-19 exempt from ATRIG; Update rules on refund of overpaid percentage tax

15 Jun 2021

This Tax Alert is issued to inform all concerned on the amendments to the Revenue Regulations No. 04-2021 which provides for the implementing rules and regulations of the value added tax (VAT) and percentage tax provisions of Republic Act No. 11534, also known as Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.

Deferred Tax related to Assets and Liabilities arising from a Single Transaction

07 Jun 2021

This Accounting Alert is issued to circulate to give insights on the treatment of deferred tax related to assets and liabilities arising from a single transaction.

SEC Extension on the Submission of Forms/Notices Pursuant to MC 28-2020

26 May 2021

This Accounting Alert is issued to circulate Securities and Exchange Commission (SEC/Commission) notice dated May 7, 2021 for the extension of the submission of forms/notices pursuant to Memorandum Circular (MC) No. 28, series of 2020 (i.e., creation/designation of e-mail account addresses and mobile numbers for transactions with the Commission).