Following the RR 7-2024 announcement, all businesses that use official receipts and would like to convert their unused official receipts to invoices must do so within 30 days (for manual receipts). An invoice, under the guidelines of the Ease of Paying Tax Act (EOPT), serves as the principal documented proof of the sale of goods…
NOTICE To All Taxpayers Concerned: Starting January 22, 2024, the Bureau of Internal Revenue (BIR) will no longer collect the Annual Registration Fee (ARF) from businesses. This change is in line with Republic Act No. 11976, also known as the “Ease of Paying Taxes Act.” As a result, businesses no longer need to file BIR…
Big news on the tax front! President Ferdinand R. Marcos Jr. just signed the “Ease of Paying Taxes Act” (RA No. 11976) into law, which is expected to significantly improve how we handle taxes. What’s the buzz about? This law is designed to revamp and modernize our tax system, making it more efficient and user-friendly.…
The Bureau of Internal Revenue (BIR) has recently issued Revenue Regulations (RR) No. 21-2021 which amended certain provisions including RR No. 13-2018, under page 15 of 20: Overview of the TRAIN Law and its impact on the Philippine tax system The Tax Reform for Acceleration and Inclusion (TRAIN) Law is a tax reform program implemented…
On November 19, 2021, the Bureau of Internal Revenue released the Revenue Memorandum Circular No. 117- 2021. This Circular was issued to clarify the provisions of Revenue Regulations (RR) No. 16-2021 that amended the provisions of RR No. 2-2015. This previously prescribed the submission of soft copies, instead of hard copies of BIR Form No.…
The Bureau of Internal Revenue (BIR) has issued a memorandum on the included forms which are available offline with the release of package version 7.9.2. The forms that will be included in the new Offline eBIR Package are 2018 versions of the following: 2552 Percentage tax return for transactions involving shares of stock listed and…
The Bureau of Internal Revenue (BIR) is an affiliated agency of the Department of Finance and is in charge of collecting national taxes in the country. The BIR is required by law to assess and collect all national internal revenue taxes, fees, and charges, as well as to execute any forfeitures, penalties, and fines associated…
Let us now dive into the untapped world of digital taxes! In today’s world, technology has played a significant part with how we live our lives. With just a tap on our phones, we will be able to access a wide range of activities which shows how technology has opened a new marketplace that has…
On September 1, 2021, the Bureau of Internal Revenue released the Revenue Memorandum Circular No. 99-2021. This Circular was issued to clarify the issues and concerns received by the BIR from the previous Revenue Memorandum Circular No. 81-2021 released in relation to the VAT Exempt goods for medical/COVID-19 purposes published by the Food and Drug…
On August 16, 2021, the Bureau of Internal Revenue released the Revenue Memorandum Circular No. 91-2021. The BIR released this RMC with the reports that called their attention regarding certain social media influencers who are not paying their taxes despite their massive earnings. The issuance of this Circular will serve as a reminder of their…
