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 ...

Commissioner Romeo Lumagui Jr. expressed optimism that the agency can achieve its ₱3.2 trillion revenue target for this year, ...

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 ...

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 ...

The Bureau of Internal Revenue (BIR) successfully surpassed its 2024 revenue target set by the Development Budget ...

In the case of government bonds, a 20 percent final withholding tax (FWT) is generally imposed on the interest income of a non-resident investor. A lower rate may be claimed by the non-resident under ...

On the sidelines of the International Tobacco Agricultural Summit, Lumagui said that if a moratorium is imposed, the government must recalibrate its revenue projections for tobacco excise tax ...

My investment accounts don’t withhold taxes from my capital gains, which is causing me to owe large amounts when I file my returns. How can I mitigate this situation? As capital gains ...

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 ...

"The BIR has collected at least P2.848 trillion ... field between retail and online stores by implementing a withholding tax system against the latter. The government aimed to end the year with ...