Clarifications on compliance rules under TIMTA

04 Oct 2016

Clarifications on compliance rules under TIMTA (DOF-DTI Joint Memorandum Circular No. 2016-01; and PEZA MC 2016-035) PEZA advises REBs to review their reports and refer to the notes to the Annual Tax Incentives Report which provides the description of each column in order to avoid inaccurate reports. Amended reports can also be submitted within the deadline.

VAT audit program for TY 2015 onwards

28 Sep 2016

Under the VAT audit program of the BIR for 2015 and thereafter, taxpayers will be selected based on two sets of criteria. Taxpayers that will be subject to the regular VAT audit will be selected based on the criteria under RMO 20-2012.

Limited audit for tax refunds

15 Sep 2016

In this RMO, the BIR clarified that companies which have filed applications for tax refund/TCC shall still be subject to mandatory audit regardless of tax type. However, the Letter of Authority that will be issued shall cover only the specific tax type which is the subject of the application for refund/TCC.

Suspension of all audit activities now fully lifted

01 Sep 2016

This Tax Alert is issued to inform all concerned that the suspension of all audit activities pursuant to RMC 70-2016 is now lifted. All field audits, filed operations, or any form of business visitation in execution of LOAs/eLAs/Audit notices, LNs, or Mission Orders can already be conducted starting today, September 1, 2016. This is to ensure that collection of correct taxes at the times prescribed by law are enforced by the bureau.

eFPS inaccessible from August 26 at 5:00 PM to August 30 at 6:00 AM

26 Aug 2016

This Tax Alert is issued to inform all concerned on the alternative mode in filing all tax returns through eFPS from August 26 5:00 PM to August 30 6:00 AM. A scheduled maintenance will be conducted starting today, August 26 at 5:00 PM to August 30 at 6:00 AM. In line with this, taxpayers are advised to use the eBIRForms facility in efiling tax returns and pay either electronically (debit notes) or over-the-counter (cash or checks)