Revenue Memorandum Order (RMO) No.14-2021 and Revenue Memorandum Circular (RMC) No.77-2021
The BIR reverts back to a single form of application for the application of tax treaty benefits. These issuances cover the rules, procedures, documentary requirements, refund, denials and penalty, and clarifications for the availment of Tax Treaty Benefits. The issuances abolished the use of the CORTT Form and introduced a request for confirmation on returns […]
Number of new businesses in the Philippines more than doubles despite impact of pandemic – outpacing all major economies
‘Wave of entrepreneurialism’ as 76,000 new Filipino startups open in Covid year‘ The number of new businesses in the Philippines increased by 152% last year despite the impact of the Covid-19 pandemic, the highest rate of all major economies. The Philippines outpaced the global average of a 6% increase in business start-ups, shows a new […]
The global economy is waking from its COVID slumber, but what will drive recovery? we suggest three post-pandemic drivers of growth
BY: Rhys Madoc, CEO, UHY International According to the Organisation for Economic Cooperation and Development (OECD), many national economies will recover to pre-pandemic levels in 2022. Globally, gross domestic product (GDP) will grow 5.8% this year, the OECD forecasts. This is more promising than its previous forecast in December, which predicted GDP growth of 4.2%. […]
UHY GLOBAL MAGAZINE AVAILABLE NOW
EXPERT INSIGHT AND ANALYSIS FOR WORLD BUSINESS The 11th edition of UHY Global magazine is now available to read online. [https://www.uhy.com/Global11/html/index.html?refUrl=https%253A%252F%252Fwww.uhy.com%252Fcategory%252Fpublications%252Fuhy-global%252F]. UHY Global draws on the knowledge of UHY’s network of member firms to provide insight and expertise for today’s global business community in a thought-provoking, upbeat and engaging read. Topically wide ranging, each feature demonstrates […]
New VAT Rules From BIR Raise Concerns Among Export Groups
Many in the local export sector might be considering how the recent issuance of Rules and Regulations (RR) 9-2021 from the Bureau of Internal Revenue (BIR) can be rather ill-timed or otherwise, unfair. Considering that Companies are just on the brink of rebounding from a global economic quagmire brought about by COVID-19 pandemic, and in consideration of […]