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Reversion of Regular Corporate Income Tax to 10% for proprietary educational institutions and non-profit hospitals, Percentage Tax to 3%, and Minimum Corporate Income Tax to 2%, effective July 1, 2023

27 Jun 2023

This Tax Alert is issued to inform all concerned on the reversion of the reduced rates of Regular Corporate Income Tax (RCIT) of proprietary educations institutions and non-profit hospitals, Percentage Tax (PT), and Minimum Corporate Income Tax (MCIT) to original rates, pursuant to Republic Act (RA) No. 11534, or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.

List of additional and delisted Top Withholding Agents on June 22, 2023

27 Jun 2023

This Tax Alert is issued to inform all concerned on the latest published lists of additional and delisted Top Withholding Agents (TWAs) who are required to deduct and remit the one percent (1%) or two percent (2%) Creditable Withholding Tax (CWT) from the income payments to regular suppliers of goods and services, respectively.

Updated guidelines on late filing and out-of-district filing of tax returns

27 Jun 2023

This Tax Alert is issued to inform all concerned on the amendment of certain provisions prescribed by Revenue Regulations (RR) No. 13-2010, regarding late filing and out-of-district filing of tax returns.

Updated policies on filing of appeal against Final Decision on Disputed Assessments (FDDA)

05 Jun 2023

This Tax Alert is issued to provide the updated policies on the filing of appeal against Final Decision on Disputed Assessments (FDDA) pursuant to Revenue Regulations (RR) No. 12-99, as amended.

Remittance of Withholding Taxes by National Government Agencies and Instrumentalities, LGUs, and GOCCs should be upon payment or accrual, whichever comes first

05 Jun 2023

This Tax Alert is issued to reiterate the proper timing of remittance of withholding taxes by National Government Agencies (NGAs) and instrumentalities, Local Government Units (LGUs), and Government Owned and Controlled Corporations (GOCCs).