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As we take on the last month of 2022 and embrace a new year, a fresh set of tax updates is also coming our way. In 2023, we will see various changes in our tax system brought by the Tax Reform for Acceleration and Inclusion (TRAIN) Law under the Comprehensive Tax Reform Program.

As noted in Revenue Memorandum Circular (RMC) No. 146-2022 dated November 10, 2022, the Bureau of Internal Revenue (BIR) has announced the launch of the improved BIR Digital Assistant Chatbot REVIE, which now features TIN Verification/Validation, RDO Finder, and eComplaint Facility.

To carry out the mandate of the Bureau of Internal Revenue (BIR) to collect taxes, the suspension of all field operations of the BIR, as ordered in Revenue Memorandum Circular (RMC) No. 77-2022 dated May 30, 2022, has been lifted effective immediately pursuant to RMC No. 148-2022 dated November 21, 2022.

Equity-based compensation is an employee benefit given in the form of stock options, restricted share awards, stock appreciation rights, and restricted stock units, which may or may not pertain to the shares of stocks of the employer-grantor itself. This is commonly used as part of employee-retention programs.

As more companies choose to adopt work-from-home (WFH) arrangements, existing registered business enterprises (RBEs) in the information and technology-business process management (IT-BPM) sector may now transfer their existing registration with the Board of Investments (BOI) until December 31, 2022. Under the guidelines released by the Department of Trade and Industry in Memorandum Circular No. 22-19 on October 18, 2022, IT-BPM RBEs, such as those registered with the Philippine Economic Zone Authority (PEZA) and other investment promotion agencies (IPAs), have until year-end to transfer their registration to the BOI. The transfer applies to IT-BPM RBEs with existing tax incentives under Section 311 of the Tax Code or those with approved tax incentives until September 14, 2022.

Revenue Memorandum Circular (RMC) No. 141-2022 provides the revised contents of the eBIRForms email notification, also known as the Tax Return Receipt Confirmation.

As part of digitalization of its operations, the Bureau of Internal Revenue (BIR) has introduced the Online Registration and Update System (ORUS).

Last October 14, 2022, the BIR issued RMC No. 137-2022, clarifying the cost items under “other expenditures” which are subject to 0% VAT, being indispensable to the project or activity.