philippines - Tax & Revenue - Notices & Directives

Basis of Capital Gains and Documentary Stamp Taxes in Sales Transactions of Previously Mortgaged Real Property

This Circular is issued to clarify the basis for the computation of Capital Gains Tax (CGT) and Documentary Stamp Taxes (DST) in a sales transaction of previously mortgaged real property. Computation on the CGT and DST on the values set in transactions involving previously mortgaged properties are to be in accordance with the Nationa ...
Date: 19 March 2018; Type: Circular; Source: Bureau of Internal Revenue

Regulations Implementing the Value-Added Tax Provisions

These Regulations are promulgated to amend certain provisions of the National Internal Revenue Code of 1997, Tax Reform for Acceleration and Inclusion (TRAIN) Law, Revenue Regulations No. 16-2005, and implement the Value-Added Tax and percentage tax provisions of the TRAIN Law. Furthermore, these Regulations are effective beginning January 1, 2018, ...
Date: 15 March 2018; Type: Regulation; Source: Bureau of Internal Revenue

Nature and Extent of the Power of the Commissioner of Internal Revenue to obtain Information

This Revenue Memorandum Circular clarifies that the power of the Commissioner to obtain information under Section 5 of the National Internal Revenue Code (NIRC) of 1997, stands amended. Therefore, the privileged communication of attorney-client and accountant-client cannot be used by the Commissioner to obtain information under Section 5 of th ...
Date: 22 February 2018; Type: Circular; Source: Bureau of Internal Revenue

BIR prescribes the Use of Computer Assisted Audit Tools and Techniques (CAATTs) Laboratories in its Offices

The Bureau of Internal Revenue recommends the use of Computer Assisted Audit Tools and Techniques (CAATTs) Laboratories in its offices to enhance the quality and pace of auditing processes and increase revenue collection through proper utilization and analysis of data from internal and external sources. Revenue Memorandum Order No. 3-2018
Date: 04 January 2018; Type: Circular; Source: Bureau of Internal Revenue

Providing for the Revised Tax Rates on Tobacco Products pursuant to Republic Act No. 10963

By this regulation, tax rates on tobacco products stand revised pursuant to the provisions of the Tax Reform for Acceleration and Inclusion Law. Revenue Regulations No. 3-2018
Date: 05 January 2018; Type: Circular; Source: Bureau of Internal Revenue

Rules and Regulations implementing the Documentary Stamp Tax Rate Adjustment under Republic Act No. 10963

These regulations provide for the implementation of the Documentary Stamp Tax Rate Adjustment under the Tax Reform For Acceleration and Inclusion Law. Revenue Regulations No. 4-2018
Date: 19 December 2017; Type: Circular; Source: Bureau of Internal Revenue

Revenue Regulations implementing the Adjustment of Rates on the Excise Tax on Automobiles

This regulation is promulgated to amend Revenue Regulations No. 25-2003 providing for revised tax rates of excise tax on automobiles. Revenue Regulations No. 5-2018
Date: 05 January 2018; Type: Circular; Source: Bureau of Internal Revenue

All Government-Owned or Controlled Offices to comply with the provisions of Republic Act No. 9184

Revenue Memorandum Circular reminding all Government-Owned or Controlled Offices, to comply with the provisions of Republic Act No. 9184 requiring publication of procurement notices in their respective websites. Revenue Memorandum Circular No. 5-2018
Date: 18 December 2017; Type: Circular; Source: Bureau of Internal Revenue

Transition Procedures for All Taxpayers affected by the Revised Tax Rates on Documentary Stamp Tax

This Memorandum Circular is issued to provide transition procedures for filing the Revised Tax Rates on Documentary Stamp Tax Returns pursuant to the provisions of the Tax Reform for Acceleration and Inclusion (TRAIN). Revenue Memorandum Circular No. 3-2018
Date: 04 January 2018; Type: Circular; Source: Bureau of Internal Revenue

A Guide to Tax Reform for Acceleration and Inclusion (TRAIN)

TRAIN aims to make the current tax system simpler, fairer, and more efficient.
Date: 08 January 2018; Type: Guide; Source: Office of the President

Amending Pertinent Provisions on the eComplaint System

This Order is issued to amend the provisions of RMO No. 51-2010 on the eComplaint System and clarify, revise or update certain policies, guidelines and procedures in the handling of grievances/ complaint through the eComplaint System. Revenue Memorandum Order No. 32-2017
Date: 27 November 2017; Type: Circular; Source: Bureau of Internal Revenue

Revenue Administrative Order amending the Resource Management Group

Amendment of Revenue Administrative Order No. 2-2014 dated August 7, 2014 relative to the organization and functions of the resource management group, including the services, divisions and sections under it. Revenue Administrative Order No. 3-2017
Date: 18 August 2017; Type: Circular; Source: Bureau of Internal Revenue

Circular to clarify the Registration and Tax Compliance Requirements of Individuals under a Job Order or Service Contract Agreement

Registration and Compliance Requirements of Individuals under a Job Order or Service Contract Agreement with the Departments and Agencies of the Government, Instrumentalities, Local Government Units (LGUs), State Colleges and Universities, including the Government-Owned and/or -Controlled Corporations (GOCCs), and Government Financial Institutions ...
Date: 17 August 2017; Type: Circular; Source: Bureau of Internal Revenue

Prescribing Policies and Procedures in Monitoring Compliance of Top Taxpayers in Revenue Regions

This Order is issued to establish a system to monitor and improve compliance of top taxpayers; define the scope and coverage of the initial implementation of such monitoring system and create and activate regional teams who shall analyse taxpayers’ compliance. Revenue Memorandum Order No. 17-2017
Date: 17 July 2017; Type: Circular; Source: Bureau of Internal Revenue

Amending Certain Provisions of Revenue Memorandum Order (RMO) No. 5-2004

This Order is issued to amend certain provisions of RMO 5-2004 to address certain issues encountered by the Large Taxpayers Service (LTS)/ Revenue District Offices (RDOs) in the receipt of application, processing and issuance of Authority to Release Imported Goods (ATRIGs) on Importation of Wheat by Millers and Traders relative to the advance payme ...
Date: 21 June 2017; Type: Circular; Source: Bureau of Internal Revenue

New Versions of UEE Data Entry Module in Filing of the BIR Form

Availability of the new versions of the Update of Exemption of Employees (UEE) data entry module in filing of the BIR Form No. 2305 (certificate of update of exemption and of employers and employee’s information) and 2305 batch file validation module. Revenue Memorandum Circular No. 43-2017
Date: 09 June 2017; Type: Circular; Source: Bureau of Internal Revenue

Circular on Clearance of Postal Items

Introduction: This CAO implements Section 438, Chapter 4, Title IV; Section 800 (f) and Section 800 (g), Chapter 1, Title VIII; and other related provisions of Republic Act No. 10863, otherwise known as the Customs Modernization and Tariff Act (CMTA). Customs Administrative Order (CAO) No. 3-2017
Date: 21 April 2017; Type: Circular; Source: Department of Finance

Guidelines and Procedure to streamline the Process and Issuance of CTE and eCAR to transfer Raw Lands to Community/ Homeowners Associations

Guidelines and procedure to streamline the process and issuance of Certificate of Tax Exemption (CTE) and Electronic Certificate Authorizing Registration (eCAR) for transfers of raw lands to Community/ Homeowners Associations for Socialized Housing Projects under Article viii, section 32, of Republic Act (RA) No. 7279, otherwise known as the &ldquo ...
Date: 16 May 2017; Type: Circular; Source: Department of Finance

List of Revenue Regions and Revenue District Offices of the Bureau of Internal Revenue

This Order is being issued to identify the various BIR Regional Offices and the respective Revenue District Offices under their jurisdictions. Revenue Administrative Order No. 1-2017; April 26, 2017
Date: 26 April 2017; Type: Circular; Source: Bureau of Internal Revenue

Circular to clarify Paragraph 6 of the Guidelines in the filing, receiving and processing of 2016 Income Tax Returns

Amending Paragraph 6 of Revenue Memorandum Circular (RMC) No. 28-2017. Re: Guidelines in the Filing, Receiving and Processing of 2016 Income Tax Returns including its Attachments. Revenue Memorandum Circular No. 34-2017; April 26, 2017.
Date: 26 April 2017; Type: Press Release; Source: Bureau of Internal Revenue

INDUSTRY UPDATES

CCCS clears Proposed Merger between Essilor and Luxottica

The Competition and Consumer Commission of Singapore (“CCCS”) has issued a clearance decision on the proposed merger between Essilor International (Compagnie Generale d’Optique) S.A (“Essilor”) and Luxottica Group, S.p.A. (“Luxottica”) (collectively “Parties”). CCCS has concluded that the merger, if carried into effect, will not infringe the section 54 prohibition of the Competition Act (Cap. 50B).

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INDUSTRY UPDATES

House and Senate successfully hold “Sports Dual Meet 2018”

The House of Representatives and the Senate on Thursday successfully held their second congressional sports invitational tournament dubbed “Sports Dual Meet 2018” at the House Sports Complex in Batasan Hills, Quezon City.

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INDUSTRY UPDATES

President Joko Widodo to attend ASEAN Summit in Singapore

Jakarta Apr 20 (ANTARA News) - President Joko Widodo will attend the the 32nd Association of Southeast Asian Nations (ASEAN) Summit in Singapore on April 27-28, 2018.

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INDUSTRY UPDATES

Police probes Facebook over Data Privacy Violation

Jakarta, Apr 19 (ANTARA News) - The National Police is currently investigating third-party applications on Facebook that have allegedly violated the data privacy of users, an official stated here on Thursday.

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INDUSTRY UPDATES

Lawyer claims Trial to CBT of more than RM100,000

GEORGE TOWN, Apr 20 (Bernama) - A lawyer pleaded not guilty in the Sessions Court here today to criminal breach of trust involving more than RM100,000.

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INDUSTRY UPDATES

IRBM confirms having issued Letters to International Schools

KUALA LUMPUR, Apr 19 (Bernama) - The Inland Revenue Board of Malaysia (IRBM) today confirmed that it had recently issued letters to the management of several international schools, here.

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INDUSTRY UPDATES

Role of In-house Lawyers must evolve, says Judge

In an event that unveiled a study of local general counsel by the Singapore Corporate Counsel Association and global law firm CMS, Judge of Appeal Steven Chong has given in-house counsel several pointers on what they need to do in their evolving role.

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INDUSTRY UPDATES

Passenger-Facing Cameras: encrypt Recordings and restrict Access

The new rule that allows the cab and private-hire car drivers to install infacing cameras should not threaten the passenger privacy according to customer feedback.

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INDUSTRY UPDATES

Cabinet confirms Appointment of New Permanent Secretary of Finance

BANGKOK, Apr 18 (NNT) - The Cabinet has officially confirmed the appointment of the new Permanent Secretary of the Finance Ministry.

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INDUSTRY UPDATES

Thailand preparing to host 12th ASEAN Skills Competition

BANGKOK, Apr 18 (NNT) - Thailand is making preparations to host the 12th ASEAN Skills Competition, the objective of which is to urge adolescents and workers in the region to be enthusiastic about developing their skills in line with new technology.

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INDUSTRY UPDATES

Government pardons nearly 8500 Prisoners, including Student Activists’ Killer

The Presidential Office announced on Tuesday that 8541 prisoners, including 51 foreigners, were released from prisons across the country.

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INDUSTRY UPDATES

Tax Exemption on Mega Projects given since 1980s - Customs DG

PUTRAJAYA, Apr 19 (Bernama) - Tax exemptions have been awarded to several large projects owned by the Government since the 1980s, and the issue of waiving the Goods and Services Tax (GST) for procurement of materials and services related to the East Coast Rail Link (ECRL) project should not be played up, said Customs Director-General Datuk Seri Subromaniam Tholasy.

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INDUSTRY UPDATES

GST Compliance good, says Customs Department

KUALA LUMPUR, Apr 18 (Bernama) - The Goods and Services Tax (GST) compliance in Malaysia is good even though there is still a need to continue to promote tax education.

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INDUSTRY UPDATES

Illegal OFWs in Kuwait have until Thursday to avail of Amnesty Program

KUWAIT, Apr 18 (PNA) - Philippine Ambassador to Kuwait Renato Villa has announced that the Kuwaiti Department of Immigration under the Ministry of Interior has officially declared Thursday (April 19) as the last day for Filipinos to file their application for the amnesty program set to expire on April 22.

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INDUSTRY UPDATES

Indonesia, Vietnam discuss Cooperation in Fisheries and Maritime Affairs

Jakarta Apr 18 (ANTARA News) - Indonesian Foreign Minister Retno Marsudi discussed cooperation in maritime affairs and fisheries with her Vietnamese counterpart, Pham Bihn Mihn, during the third joint commission meeting between the two countries.

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