philippines - Tax & Revenue - Notices & Directives

Collection of Documentary Stamp Taxes

This is to notify that from April 22, 2019, the Securities and Exchange Commission (SEC), shall collect Documentary Stamp Tax amounting to Thirty Pesos for every certificate the SEC issues.
Date: 08 April 2019; Type: Circular; Source: Securities and Exchange Commission

Revision of BIR Form No. 1306

This Circular is issued for the information and guidance on the revised format of the BIR Form No. 1306 "Declaration of Forfeiture of Real Property" and "Consolidation of Titles of Absolutely Forfeited Property in Favor of the Republic of the Philippines". Revenue Memorandum Circular No. 70-2018
Date: 31 July 2018; Type: Circular; Source: Bureau of Internal Revenue

New Procedural Code for the shipments of PSC

This Circular is to notify the new procedural code B09-Philippine Sports Commission (PSC) for the shipments of the PSC which will be available upon the issuance of Tax Exempt Division. Customs Memorandum Circular No. 81-2018
Date: 24 April 2018; Type: Circular; Source: Bureau of Customs

Renewing the Travel Tax Exemption Policy to Travellers

This Circular is to notify all Internal Revenue Officials, Employees and others concerned that the Memorandum Order No. 23, informing the renewal of Travel Tax Exemption Policy to Travellers Departing from all International Airports and Seaports in Mindanao and Palawan to any destination in the Brunei Darussalam-Indonesia-Malaysia- Philip ...
Date: 21 May 2018; Type: Circular; Source: Bureau of Internal Revenue

Circularizing the Reportorial Requirements of Revenue Regional Offices to the Internal Affairs Service

This Circular is issued to disseminate the revised formats of the reports required to be submitted to the Internal Affairs Service (IAS) by the concerned offices in the Revenue Regions in order to facilitate the collation for database purposes and integration of the reports in the IAS. Revenue Memorandum Circular No. 47-2018
Date: 05 June 2018; Type: Circular; Source: Bureau of Internal Revenue

Revised Non-Disclosure Agreement Form

This Memorandum Order amends the Non-Disclosure Agreement form prescribed to be used/accomplished by BIR revenue personnel and/or third parties. Revenue Memorandum Order No. 27-2018
Date: 11 May 2018; Type: Circular; Source: Bureau of Internal Revenue

Reiteration of the Guidelines in Registration Updates and Other Tax Compliance Requirements

This Circular is issued to reiterate the guidelines in registration, update and other tax compliance requirements of candidates, political parties/ party list groups and campaign contributors pursuant to Revenue Regulations (RR) No. 8-2009, as amended, RR No. 7-2011 and other related revenue issuances. Revenue Memorandum Circular No. 38-2018
Date: 03 May 2018; Type: Circular; Source: Bureau of Internal Revenue

Amendment of Revenue Memorandum Circular No. 55-2016 to extend the Validity Period of all Certificates of Accreditation

This Memorandum Circular notifies the extended validity period of all Certificates of Accreditation. All valid Certificates of Accreditation issued on or before July 31, 2015 shall be valid until July 31, 2020 and all Certificates of Accreditation issued on August 1, 2015 onwards shall follow the five-year validity period b ...
Date: 07 May 2018; Type: Circular; Source: Bureau of Internal Revenue

Clarification on the Issuance of Taxpayer Identification Number for Corporations

This Memorandum Circular is issued to clarify the policies on the issuance of Taxpayer Identification Number for corporations relative to its corporate term under Section 11 of the Corporation Code of the Philippines. Revenue Memorandum Circular No. 41-2018
Date: 23 May 2018; Type: Circular; Source: Bureau of Internal Revenue

Creation of Fast Lane for all One-Time Transactions involving Simple Transaction

This Memorandum Circular by the Bureau of Internal Revenue directs the One-Time Transaction Team to create a fast lane that will cater to individuals or corporations filing Capital Gains Tax or Donor's Tax Returns with only one Deed of Sale/ Exchange/ Donation involving one to three properties. Revenue Memorandum Circular No. 43-2018
Date: 18 May 2018; Type: Circular; Source: Bureau of Internal Revenue

Guidelines and Instructions for BIR Form No. 1701Q

These guidelines by the Bureau of Internal Revenue is to assist the taxpayers to file their Quarterly Income Tax Returns. The Quarterly Income Tax Return does not have to be accompanied with Account Information Form and/or Financial Statements. 
Date: 26 April 2018; Type: Guideline; Source: Bureau of Internal Revenue

FY 2019 Internal Revenue Allotment and Guidelines on the Preparation of the FY 2019 Annual Budgets of Local Government Units

This Circular is to inform the Local Government Units (LGUs) of their Internal Revenue Allotment shares for FY 2019 based on the certification of the Bureau of Internal Revenue and to prescribe the guidelines on the preparation of the FY 2019 annual budgets of LGUs. Local Budget Memorandum No. 77
Date: 15 May 2018; Type: Circular; Source: Department of Budget and Management

Prescribing Policies, Guidelines and Procedures for Individuals Earning from Self-Employment and/or Practice of Professions

This Order is issued to prescribe policies, guidelines and procedures in availing the eight percent (8%) income tax rate option of individuals earning from self­-employment/ business and/or practice of profession relative to the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Act. Revenue Memorandum Order No. 23-2018
Date: 21 May 2018; Type: Circular; Source: Bureau of Internal Revenue

Revised Guidelines and Procedures in the Conduct of Tax Compliance Verification Drive

Revenue Memorandum Order No. 9-2006 is revised by removing the requirement for the Tax Mapping Team to issue a ‘Reminder Letter' to all business establishments being tax mapped. Revenue Memorandum Order No. 22-2018
Date: 10 April 2018; Type: Circular; Source: Bureau of Internal Revenue

Entry into Force, Effectivity and Applicability of the Philippines-Sri Lanka Double Taxation Agreement

The circular notifies the Convention between the Government of the Republic of the Philippines and the Government of the Democratic Socialist Republic of Sri Lanka for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income has entered into force on 14 March 2018. Revenue Memorandum Circular No. 34 ...
Date: 17 May 2018; Type: Circular; Source: Bureau of Internal Revenue

Entry into Force, Effectivity and Applicability of the renegotiated Philippines-Thailand Double Taxation Convention

The circular notifies the Renegotiated Convention between the Government of the Republic of the Philippines and the Government of the Republic of Thailand for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income has entered into force on '05 March 2018. Revenue Memorandum Circular No. 33-2018
Date: 17 May 2018; Type: Circular; Source: Bureau of Internal Revenue

Exemption from Withholding Tax on Compensation of Public School Teachers and other Persons Serving in the Electoral Board

This resolution ensures that those serving in the Electoral Boards, DESOs and support staff who are exempted from withholding tax on compensation shall be able to execute the prescribed Sworn Declaration, and to submit the same to the Commission on Elections for the processing and refund of the tax previously withheld. Resolution No. 10332
Date: 11 May 2018; Type: Circular; Source: Commission on Elections

Circularizing the Availability of the Newly revised BIR Form No. 1701Q

This Circular is issued to prescribe the newly revised Bureau of Internal Revenue Form, which was revised due to the implementation of the Tax Reform for Acceleration and Inclusion Law. The newly revised return shall be used by the taxpayers in filing and paying the quarterly income tax return starting the first quarter of 2018 through the pre ...
Date: 26 April 2018; Type: Circular; Source: Bureau of Internal Revenue

Over-the-Counter Acceptance of Certain Tax Returns/ Payment of Internal Revenue Taxes due to the Unavailability of the eFPS

This Revenue Memorandum Circular is to notify that the due date for Over-the-Counter Acceptance of Certain Tax Returns/Payment of Internal Revenue Taxes is extended to April 26, 2018 without the corresponding payment of penalties for late filing, due to the unavailability of the Bureau's Electronic Filing and Paym ...
Date: 25 April 2018; Type: Circular; Source: Bureau of Internal Revenue

Amended Documentary Requirements for New Business Registrants

This Circular is to amend Annexes A1 to A3 of Revenue Memorandum Circular No. 93-2016. The documentary requirements of new business registrants were amended pursuant to the Data Privacy Act of 2012 and the Ease of Doing Business (EODB). Revenue Memorandum Circular No. 30-2018
Date: 03 May 2018; Type: Circular; Source: Bureau of Internal Revenue

INDUSTRY UPDATES

SEC urges Public to scrutinize Firms before investing

MANILA, Jun 26 (PNA) - As it intensifies the crackdown on suspected investment scams, the Securities and Exchange Commission (SEC) has advised prospective investors to scrutinize first the legitimacy of a company before making their investment decisions.

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INDUSTRY UPDATES

SC sets Ground Rules for Oral Arguments on Writ of Kalikasan

MANILA, Jun 25 (PNA) - The Supreme Court (SC) on Tuesday issued guidelines for the July 2 oral arguments on the writ of kalikasan suit filed by petitioners seeking assertive government action on the disputed Ayungin Shoal, Panganiban Reef, and Panatag Shoal.

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INDUSTRY UPDATES

Police Chief bans Mass Rally outside Constitutional Court Building

Jakarta, Jun 25 (ANTARA) - Police has banned mass rallying outside the Constitutional Court (MK) building during the court's Consultative Meeting of Judges before it gives a ruling on the presidential election dispute, Indonesian Police Chief Gen. Tito Karnavian emphasized.

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INDUSTRY UPDATES

Government plans to build New Shah Alam Court Complex - Liew

SHAH ALAM, Jun 24 (Bernama) - The government plans to build a new Court Complex in Shah Alam to replace the existing building, said Minister in the Prime Minister’s Department Datuk Liew Vui Keong.

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INDUSTRY UPDATES

Niosh offers free needs Analyses for Sabah and Labuan Workplaces

KOTA KINABALU, Jun 24 (Bernama) - The National Institute of Occupational Safety and Health (NIOSH) stands ready to conduct free needs analyses of workplace safety for organisations in Sabah and the Federal Territory of Labuan, with the aim of identifying appropriate training required.

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INDUSTRY UPDATES

Ministry launches Sexual Predation Awareness Campaign

PUTRAJAYA, Jun 24 (Bernama) - The Women, Family and Community Development Ministry today launched a sexual predation awareness campaign via digital medium Youtube.

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INDUSTRY UPDATES

Ambushed fiscal named Mindoro judge

MANILA, Jun 21 (PNA) - A female prosecutor who was shot and wounded as she was entering her home in Oriental Mindoro last June 10 is among the newly-appointed judges, Justice Secretary Menardo Guevara announced on Friday.

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INDUSTRY UPDATES

ASEAN Chamber of Commerce, UiTM ink MoU to collaborate in Various Areas

KUALA LUMPUR, Jun 22 (Bernama) - ASEAN Chamber of Commerce and Universiti Teknologi Mara (UiTM) have inked a memorandum of understanding (MoU) to pave the way for collaboration in various areas of entrepreneurship, including research.

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INDUSTRY UPDATES

President Jokowi to attend 34th ASEAN Summit in Thailand

Jakarta, Jun 20 (ANTARA) - Indonesian President Joko Widodo will attend the 34th ASEAN Summit in Bangkok, Thailand, from June 22 to 23, 2019.

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INDUSTRY UPDATES

PCC OKs East West purchase of PBCOM Auto Loan Portfolio

MANILA, Jun 19 (PNA) - The Philippine Competition Commission (PCC) approved the acquisition by East West Banking Corporation (East West) of the auto loan portfolio of Philippine Bank of Communications (PBCom).

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INDUSTRY UPDATES

RI hopes for Progress in Timor Leste joining ASEAN

Jakarta, Jun 19 (ANTARA) - The Indonesian government has expressed its hopes that the ongoing evaluation of Timor Leste will result in its becoming a member of the Association of Southeast Asian Nations (ASEAN).

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INDUSTRY UPDATES

MyCC to focus Efforts on Monitoring Cement Industry

KUALA LUMPUR, Jun 19 (Bernama) - The Malaysia Competition Commission (MyCC) says it will focus its efforts on consistently monitoring the cement industry in order to complement the government’s initiative in protecting the welfare of consumers.

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INDUSTRY UPDATES

Amended Code did not affect Conflict of Interest - Witness

KUALA LUMPUR, Jun 18 (Bernama) - The Code of Ethics for Administration Members and Members of Parliament was amended by the Cabinet in 2013 but did not affect the conflict of interest provision, according to a Cabinet former deputy secretary-general (Constitution and Communication).

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INDUSTRY UPDATES

Court urges Johor PTG to meet Orang Asli to settle Compensation Issue

JOHOR BAHRU, Jun 18 (Bernama) - The High Court here today encouraged the state Land and Mines Office (PTG) to engage in discussions with the Seletar tribe Orang Asli of Kuala Masai with the aim of settling compensation due as a result of wrongful acquisition of their land in Stulang Laut.

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INDUSTRY UPDATES

Ex-CJ speaks out against Lawyers' Tendency to seek Postponements

KUALA LUMPUR, Jun 16 (Bernama) - Former Chief Justice Tun Zaki Azmi has spoken out against the tendency by certain defence lawyers to seek postponements of cases being heard in court.

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INDUSTRY UPDATES

New Competition Commission already under Fire

Myanmar’s professed commitment to competition reform has come under fire after the government packed the new Competition Commission with bureaucrats serving under a minister.

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INDUSTRY UPDATES

NA Deputies give Opinions on Revised Labour Code

Hanoi, Jun 12 (VNA) - The revised Labour Code will the focus during the sitting of lawmakers on June 12 in the ongoing 7th session of the 14th National Assembly.

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INDUSTRY UPDATES

Ability to pay Taxes Online a Boon for Vietnam’s Import-Export Businesses

Hanoi, Jun 6 (VNS/VNA) - Around 99 percent of import and export tax payments in Ho Chi Minh City are made online, according to the customs department.

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