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Revised rules on late, out-of-district filing of tax returns Tax Notes

The Bureau of Internal Revenue (BIR) recently issued Revenue Regulation (RR) No. 6-2023, amending the provisions in RR No. 13-2010, regarding the guidelines on late and out-of-district filing of tax returns.

1 min read | 01 Jul 2023
BIR updates documentary requirements for income tax exemption of foreign-sourced dividends received by a domestic corporation Tax Notes

The Bureau of Internal Revenue (BIR) has issued Revenue Regulations (RR) No. 05-2023 which outlines the updated documentary requirements for domestic corporations seeking income tax exemption on foreign-sourced dividends.

2 min read | 23 Jun 2023
Issuance and validity of TIN card and certificate of registration Tax Notes

The Bureau of Internal Revenue (BIR) has released a new design for the Tax Identification Number (TIN) card (BIR Form 1931) which is now in color green, replacing the old yellow TIN card. Nonetheless, the old yellow TIN card is still valid since the TIN does not expire or change and, as such, does not need to be replaced by the taxpayer.

2 min read | 14 Jun 2023
Availability of Annual Information Returns and BIR Form 0620 in the eFPS Tax Notes

Pursuant to Revenue Memorandum Circular (RMC) No. 62-2023 dated May 24, 2023, taxpayers under the Electronic Filing and Payment System (eFPS) may now use the BIR Forms.

Less than a minute | 07 Jun 2023
Clarifications on the entitlement of economic zone developers and operators to the Value-Added Tax (VAT) zero-rating on local purchases of goods and services directly and exclusively used in the registered project or activity Tax Notes

The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No 53 – 2023 last May 11, 2023, to clarify the entitlement of economic zone developers and operators to the Value-Added Tax (VAT) zero-rating on local purchases of goods and services directly and exclusively used in the registered project or activity.

3 min read | 31 May 2023
Optional filing and payment of monthly VAT returns now allowed Tax Notes

The effectivity of TRAIN Law repealed the monthly filing of the VAT returns (BIR Form No. 2550M) starting January 1, 2023, but retained the filing of the quarterly VAT returns (BIR Form No. 2550Q). Recently, the issuance of Revenue Memorandum Circular (RMC) No. 52-2023 revived the monthly filing but in an optional capacity.

1 min read | 24 May 2023
All barangays are now mandated to file through eBIR forms Tax Notes

With the issuance of RR No. 4-2023, the exception for barangays is lifted. As a result, barangays are now included in the list of taxpayers required to file their tax returns using the eBIR Forms.

1 min read | 17 May 2023
BIR prior approval on VAT zero-rating of qualified purchases of Registered Export Enterprises (REEs) no longer required Tax Notes

The Bureau of Internal Revenue (BIR) has issued Revenue Regulations No. 3-2023 to inform all concerned on the amendments on the VAT rules applicable to Registered Export Enterprises (REEs) pursuant to Revenue Regulations (RR) No. 16-2005 as amended by RR No. 21-2021, implementing Sections 294(E) and 295(D), Title XIII of the Tax Code as amended by Republic Act No. 11534, also known as the CREATE Act and its Implementing Rules and Regulations.

3 min read | 10 May 2023
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