Recognizing the Best Performing Digital/Innovative Business in PH Via an Inaugural Summit
Even long before the COVID-19 pandemic forced global companies to adopt digital transformation and stay afloat in their respective industries, digitalization has been on a steady upward trajectory since the 1990s. Today, when data is considered one of the biggest commodities in business, more Philippine companies are shifting their focus online to drive robust growth […]
Prescribe format of VAT Zero Percent (0%) Certification to be issued by Investment Promotion Agencies (IPA) to Registered Export Enterprises (REE)
Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 36-2022 to establish a uniform template for VAT Zero Percent (0%) Certification to be issued by Investment Promotion Agencies (IPA) annually as presented to the Q and A No. 34 of RMC No. 24-2022 I. VAT Zero Percent Certification to Registered Export Enterprises contains: […]
Application for Certificate of Entitlement to Tax Incentives (CETI) of Registered Business Enterprises (RBE) with FIRB and IPAs (PEZA, BOI, etc.)
CETI is a requirement for all RBE in availing of the Income Tax Holiday (ITH) or preferential rate provided by CREATE Revenue Memorandum Circular (RMC) No. 28-2022 mandates all Registered Business Enterprises (RBE) to apply for a Certificate of Entitlement to Income Tax Incentives (CETI) formerly Certificate for Entitlement to Income Tax Holiday, to the […]
Clarifications Regarding the Deadline for Filing of Annual Income Tax Returns (AITR) and Non-Imposition of Increments on Amended Returns
Tentative AITR may be filed on or before April 18, 2022 which can be amended on or before May 16, 2022, without the imposition of interest, surcharge, and penalties while overpayment can be carried over as tax credit in the succeeding periods Revenue Memorandum Circular (RMC) No. 42-2022 was issued by the Bureau of Internal […]
Clarifications to Revenue Regulation (RR) No. 21-2021
VAT treatment of transactions by Registered Business Enterprises (RBE)from June 2021 onwards under CREATE Revenue Memorandum Circular (RMC) No. 24-2022 addresses concerns raised by Revenue Regulation (RR) No. 21-2021 which took effect on December 10, 2021, specifically the VAT treatment of transactions by Registered Business Enterprises (RBE) particularly on the Registered Export Enterprises (REE) where […]