Tax Alerts

Latest updates in Philippine Taxation

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 releases new Prescribed Timeline and implementation procedures for Online Sellers/Service Providers in the Philippines

BIR releases new Prescribed Timeline and implementation procedures for Online Sellers/Service Providers in the Philippines

26 February 2024

The Bureau of Internal Revenue (BIR) sets the updated rules for imposing Withholding Tax for the Gross Remittances of Electronic Marketplace (e-marketplace) operators and digital financial service providers (DFSP) to online sellers/online service providers & merchants in the Philippines.

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BIR sets new deadlines and amendments for their Audit Program

26 February 2024

The Bureau of Internal Revenue (BIR) has released several amendments to its Audit Program – highlighting new report deadlines and updated tax procedure guidelines.

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BIR sets new deadlines and amendments for their Audit Program
Understanding Double Taxation in the Philippines

Understanding Double Taxation in the Philippines

21 February 2024

For individuals and businesses operating in the Philippines, navigating the tax landscape can be a complex endeavor. One particularly challenging aspect is the potential for double taxation, where the same income is taxed twice – often by different taxing authorities. This can lead to higher tax burdens and reduced profitability.

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BIR extends the deadline for the submission of the alphalist of employees with withheld taxes and updates tax report formats

21 February 2024

The Bureau of Internal Revenue (BIR) has recently released the extended deadline for the submission of the alphalist of employees/payees who have been withheld taxes for the taxable year 2023.

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BIR extends the deadline for the submission of the alphalist of employees with withheld taxes and updates tax report formats
BIR amends Real Property tax rules for businesses and taxpayers

BIR amends Real Property tax rules for businesses and taxpayers

09 January 2024

The Bureau of Internal Revenue (BIR) clarifies the application of taxes on sale of real property considered as ordinary assets.

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BIR reveals new VAT Registration options in the Philippines for RBEs

20 December 2023

The Bureau of Internal Revenue (BIR) has announced new policies and guidelines regarding the alternative options for Registered Business Enterprises (RBEs) to register as VAT taxpayers in the Philippines.

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BIR reveals new VAT Registration options in the Philippines for RBEs
Tax Guide – Understanding Tax Exemptions and Requirements in the Philippines

Tax Guide – Understanding Tax Exemptions and Requirements in the Philippines

13 December 2023

This short guide created by Mazars Philippines explains the Tax-Exempt qualifications in the Philippines.

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BIR answers questions on VAT zero-rate transactions and VAT Zero-rate incentives

20 October 2023

The Bureau of Internal Revenue (BIR) clarifies issues relative to the implementation of Revenue Regulations No. 3-2023 and other related concerns on Value-Added Tax (VAT) zero-rate transactions in the Philippines on local purchases of the Registered Export Enterprises (REEs) and other entities granted with VAT zero-rate incentives under special laws and international agreements

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BIR answers questions on VAT zero-rate transactions and VAT Zero-rate incentives
BIR reverts Corporate Income Tax, Minimum Corporate tax, and Percentage Tax rates in the Philippines to their original rates

BIR reverts Corporate Income Tax, Minimum Corporate tax, and Percentage Tax rates in the Philippines to their original rates

20 October 2023

The Bureau of Internal Revenue (BIR) announces reversion of Regular Corporate Income Tax to 10% for proprietary educational institutions and non-profit hospitals, Percentage Tax to 3%, and Minimum Corporate Income Tax to 2%, effective July 1, 2023.

(Revenue Memorandum Circular No. 69-2023, issued on June 20, 2023)

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