Tax Alerts
Tax Alerts
The Bureau of Internal Revenue has issued several regulations and memorandum circulars that will have an impact on taxpayers’ compliance obligations. We have collated the issuances that we find most relevant and applicable.
BIR guides the filing of requests for Confirmation, Tax Treaty Relief Applications and Tax Sparing Applications
The Bureau of Internal Revenue (BIR) implements Revenue Memorandum Circular (RMC) No. 20-2022, aiding users in filing requests for Confirmation, Tax Treaty Relief Applications, and Tax Sparing Applications.
Read moreTime is of the essence: Penalties for tax return late filing.
Failing to pay the Bureau of Internal Revenue (BIR) mandated Tax requirements will cause hefty penalties that can cripple businesses. Tax returns are among the most critical tax reports requested by the BIR, Mazars lists down these penalties to help business avoid incurring them as much as possible.
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TAX ADVISORY: Circularizing the List of Withholding Agents Required to Deduct and Remit 1% or 2% Creditable Withholding Tax
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 27-2022 regarding circularizing list of withholding agents required to deduct and remit.
Read moreBIR gives clarification and guidance on Tax-Free Exchanges of Properties on the release of Revenue Memorandum Circular 19-2022
The Bureau of Internal Revenue (BIR) releases Revenue Memorandum Circular 19-2022 to help clarify and guide taxpayers on the tax-free exchanges of properties under Section 40(C)(2) of the National Internal Revenue Code of 1997 and the amendments done by the CREATE Act.
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BIR announces circular no. 16-2022, updates scope and extension of the deadlines following Revenue Regulations no. 1-2022
Bureau of Internal Revenue releases memorandum circular no. 16-2022 to answer questions regarding the the scope and coverage of the deadline extensions according to Revenue Regulations no. 1-2022
Read moreBureau of Internal Revenue passes memorandum circular no. 126-2021, taxpayers can use InstaPay to submit internal revenue taxes
The BIR announces memorandum circular no. 126-2021, to help inform taxpayers of the use of InstaPay via UPAY to submit internal revenue taxes using BSP banks and other e-money issuers.
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![Tax Alert No. 5 - [NEW ISSUANCE] 2021 CREATE Act](https://www.mazars.ph/var/mazars/storage/images/_aliases/index_page_section/media/local-contents/philippines/3.-illustration-pictures/editorial-theme-m-a-tax/53180230-1-eng-GB/576481dad254-Editorial-Theme-M-A-Tax.png "Tax Alert No. 5 - [NEW ISSUANCE] 2021 CREATE Act")
Tax Alert No. 5 - [NEW ISSUANCE] 2021 CREATE Act
The Corporate Recovery and Tax Incentives for Enterprises (CREATE) law aims to make the Philippines more competitive in ASEAN by lowering the corporate income taxes to 25% and 20% for small, medium and micro enterprises. It is also seen as a fiscal relief and recovery measure for Filipino business still suffering from the COVID 19 pandemic.
Read moreTax Alert No. 4 - [UPDATE] BIR Form Nos 1604-C and 1604-F
Extension of the deadline for the filing/submission of the Annual Information Return of Income Taxes Withheld on Compensation and Final Withholding Taxes
Read more![Tax Alert No. 4 - [UPDATE] BIR Form Nos 1604-C and 1604-F](https://www.mazars.ph/var/mazars/storage/images/_aliases/index_page_section/media/local-contents/philippines/7.-stock-photos/tax-services-philippines-1128201251a/54047509-1-eng-GB/23cdaa6e3d4e-Tax-Services-Philippines-1128201251a.jpg "Tax Alert No. 4 - [UPDATE] BIR Form Nos 1604-C and 1604-F")
![Tax Alert No. 3 - [UPDATE] Tax amnesty on delinquencies](https://www.mazars.ph/var/mazars/storage/images/_aliases/index_page_section/media/local-contents/philippines/7.-stock-photos/tax-amnesty-philippines/54045639-1-eng-GB/6d415a66d266-Tax-Amnesty-Philippines.jpg "Tax Alert No. 3 - [UPDATE] Tax amnesty on delinquencies")
Tax Alert No. 3 - [UPDATE] Tax amnesty on delinquencies
Under the Tax Amnesty Act, qualified taxpayers are given the chance to clean their tax records and avoid facing possible criminal charges and stiff penalties.
Read moreTax Alert No. 2 - [UPDATE] Voluntary Assessment and Payment Program (VAPP)
Revenue Regulations 21-2020 for Voluntary Assessment and Payment Program (VAPP) was issued for the collection of additional tax revenues, which could otherwise be collected through audit and enforcement efforts.
Read more![Tax Alert No. 2 - [UPDATE] Voluntary Assessment and Payment Program (VAPP)](https://www.mazars.ph/var/mazars/storage/images/_aliases/index_page_section/media/local-contents/philippines/7.-stock-photos/tax-services-philippines/54045430-1-eng-GB/19ce4537945c-Tax-Services-Philippines.jpg "Tax Alert No. 2 - [UPDATE] Voluntary Assessment and Payment Program (VAPP)")