New rule on deductibility of expenses not subjected to withholding tax

25 Jan 2018

This Tax Alert is issued to inform all concerned taxpayers that RR 12-2013 has been revoked and that the rule on deductibility of expenses upon payment of deficiency withholding tax has been reinstated.

Local Business Tax (LBT): Filing and Payment extension notices

23 Jan 2018

This Tax Alert is issued to inform all concerned taxpayers on the extended deadline for filing and/or payment of local business tax of certain local government units (LGU’s).

Tax Reform for Acceleration and Inclusion (Filing and Compliance)

22 Jan 2018

This Tax Alert is issued to inform all concerned on the significant provisions of the Tax Reform for Acceleration and Inclusion (TRAIN) Act or Republic Act (RA) No. 10963 on Compliance Requirements and Penalties. The summary is based on our interpretation of the provisions of the law. Should there be different interpretations in the implementing regulations that will be issued by the Bureau of Internal Revenue, such interpretations shall prevail. We shall issue another Tax Alert as soon as the implementing regulations are released.

Tax Reform for Acceleration and Inclusion (Excise Tax)

18 Jan 2018

This Tax Alert is issued to inform all concerned on the significant provisions of the Tax Reform for Acceleration and Inclusion (TRAIN) Act or Republic Act (RA) No. 10963 on Excise Tax.

8% reduced EWT rate for self-employed individuals and professionals

10 Jan 2018

This Tax Alert is issued to inform all concerned on the change of Expanded Withholding Tax (EWT) rate for self-employed individuals or professionals to 8%, from 10%/15%, and procedures on the use of the new withholding tax table for compensation income.