FDA list of VAT-exempt drugs/medicines, vaccines and medical devices pursuant to CREATE Act now available

08 Jul 2021

This Tax Alert is issued to inform all concerned on the published “List of VAT-Exempt Products” pursuant to Republic Act No. 11534, also known as Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.

Clarifications on the suspension of running of statute of limitations due to declarations of ECQ and MECQ in certain areas

08 Jul 2021

This Tax Alert is issued to inform all concerned taxpayers on the clarifications on the suspension of the running of statute of limitations for assessment and collection of taxes due to declarations of quarantine in various areas in the country.

Implementation of penalty provisions under TRAIN Law

06 Jul 2021

This Tax Alert is issued to inform all concerned on the implementation of the penalty provisions under Sections 76, 77, 78, 79 and 80 of Republic Act (RA) No. 10963 (TRAIN Law), amending Sections 254 and 264 of, and adding Sections 264-A, 264-B and 265-A to, the National Internal Revenue Code (NIRC) of 1997, as amended.

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.