In December last year, the BIR issued Revenue Regulation 16-2023 requiring online merchants with earnings of more than ...

THE upcoming elections could delay the passage of key tax reform measures crucial for the Bureau of Internal Revenue (BIR) to hit its P3.2-trillion tentative target collection this year. Speaking to ...

Capping off the first month of 2025, the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 004-2025 (RR No. 4-25), amending the rules on certain de minimis benefits. It increased ...

THE Bureau of Internal Revenue (BIR) has ruled to exempt from taxation ... The yield from ABS will be subject to a 20 percent final withholding tax, except for income from low-cost or socialized ...

their BIR Form 2316 must be submitted to the BIR by Feb. 28, 2025. Withholding tax Taxpayers who withheld final taxes must file the BIR Form 1604-F (annual final withholding), with the alpha list ...

Last Jan. 16, 2025, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) 5-2025, amending certain provisions of RMC 11-2024 (Leases), 1 ...

If the customers of NDSPs are VAT-registered, the customer is liable to withhold and remit the VAT via reverse charging mechanism (withholding VAT) to the BIR. On the other hand, if the customers are ...

Additionally, the BIR introduced a new withholding tax system for online stores, leveling the playing field between traditional and digital retail businesses. “We are thankful for the guidance and ...