To maintain an organized and orderly filing of Annual Financial Statements (AFS) and General Information Sheet (GIS), and to comply with the zero-contact policy and automation of business-related transactions mandated by Republic Act No. 11032, otherwise known as the Ease of Doing Business and Efficient Government Service Delivery Act of 2018, the Securities and Exchange Commission (SEC), pursuant to its authority under Republic Act No. 11232, otherwise known as the Revised Corporation Code of the Philippines, and Republic Act No. 8799, otherwise known as the Securities Regulation Code, hereby adopts the following measures in the filing of annual reports with the Commission: SUBMISSION DATES Last Digit of SEC Registration/ License Number May 2,5,6,7,8,9,12,13,14,15 and 16 1 and 2 May 19,20,21,22,23,26,27,28,29 and 30 3 and 4 June 2,3,4,5,6,9,10,11and 13 5 and 6 June 16,17,18,19,20,23,24,25,26 and 27 7 and 8 June 30/ July 1,2,3,4,7,8,9,10 and 11 9 and 0 All corporations under
Further Amending Section 5 of Revenue Regulations (RR) No. 3-69, Relative to the Due Process Requirement in the Service and Execution of Summary Remedies Section 1 Scope – Pursuant to the provisions of Sections 244 and 245 in relation to Sections 207 and 208 of the National Internal Revenue Code of 1997 (Tax Code), as amended, this Regulation is hereby promulgated to amend the provisions of Revenue Regulations (RR) No. 3-69. Section 2 Amendment – Section 5 of RR No. 3-69 is hereby amended pertaining to the pertinent provision of Section 5 (a) and shall include additional provision related to the service of warrants and notices to taxpayers who have resurfaced that were previously identified as Cannot be Located (CBL) under the circumstances prescribed in the existing revenue issuances, to wit: “Section 5. Due Process Requirements in the Enforcement of Summary Remedies (a) Service and Execution of Warrants and Notices
Amending the Pertinent Provisions of Revenue Regulations No. 16-2005 to Implement the Value-Added Tax Provisions under Section 106, 108, 109, and 112 the National Internal Revenue Code of 1997, as Amended by Republic Act No. 12066. SECTION 1. Scope. – Pursuant to Sections 244 and 245 of the National Internal Revenue Code of 1997, as amended (Tax Code), in relation to Sections 12, 13, and 32 of Republic Act (RA) No. 12066, these Regulations are hereby promulgated to implement Sections 237 and 237-A of the Tax Code, particularly on the issuance of electronic invoices, electronic sales reporting and additional allowable deduction related thereto. SECTION 2. DEFINITION OF TERMS. – In applying the provisions of these Regulations, the following terms shall be defined as follows: A photo or scanned copy (in any file format) of a paper invoice (physical/manual copy) is not an electronic invoice. For purpose of these Regulations, internet
Amending the Pertinent Provisions of Revenue Regulations NO. 16-2005 to Implement the Value-Added Tax Provisions under Section 106, 108, 109, and 112 the National Internal Revenue Code of 1997, as Amended by Republic Act No. 12066 SECTION 1. Scope. – Pursuant to Sections 244 and 245 of the National Internal Revenue Code of 1997, as amended (Tax Code), in relation to Section 32 of Republic Act (RA) No. 12066, these Regulations are hereby promulgated to implement the Value Added Tax (VAT) provisions under Section 6,7,8, and 9 of the said Act. Section 2 Coverage. – These regulations shall amend pertinent provisions of Revenue Regulations (RR) No. 16-2005, as amended, to cover the following provisions of the Tax Code: SECTION 3. ZERO-RATED SALES OF GOODS OR PROPERTIES. – The entire Section 4.106-5 of RR No. 16-2005, as amended, is hereby further amended to read as follows: “Sec. 4.106-5. Zero-Rated Sales of
Implementing Section 112(C) and 125-A of the National Internal Revenue Code of 1997, as Amended by Section 9 and 11 of Republic Act No. 12066 on the Procedures in the Resolution of Request for Reconsideration on the Denial of Claims for Refund SECTION 1. Scope. – Pursuant to Sections 244 and 245 of the National Internal Revenue Code of 1997, as amended (Tax Code), in relation to Section 9, 11, and 32 of Republic Act (RA) No. 12066, these Regulations are hereby promulgated to implement Sections 112(C) and 135-A of the Tax Code by providing the governing rules on the resolution of requests for reconsideration against the full or partial denial of taxpayer-claimant’s claim for refund of: (1) Creditable input taxes under Section 112(A) and (B) of the Tax Code; and (2) Excise tax paid on petroleum products under Section 132-A of the Tax Code. SECTION 2. COVERAGE – These
Implementing the Amendments to Section 27, 28, and 34 of the National Internal Revenue Code of 1997, as Amended by Republic Act No. 12066 SECTION 1. SCOPE. – Pursuant to Sections 244 and 245 of the National Internal Revenue Code of 1997, as amended (Tax Code), in relation to Sections 1, 2, 4, and 32 of the Republic Act (RA) No. 12066, these Regulations are hereby promulgated to implement Sections 27, 28, and 34 of the Tax Code, specifically on: (1) reduced income tax rates for domestic and resident Foreign corporations classified as Registered Business Enterprises (RBEs) under the Enhanced Deductions Regime (EDR) as provided in Section 294(C) of the Tax Code; and(2) additional allowable deductions from gross income under Section 34(C)(8) of the same Code. Section 2 Corporate Income Tax Rates. – The income tax rates for domestic and resident foreign corporations pursuant to Section 27 and 28 of
Amending Revenue Regulations No. 2-98 Relative to the Withholding Tax Rates on Certain Income Payments Subject to Creditable Withholding Tax Pursuant to Section 57 of the National Internal Revenue Code of 1997, as Amended by Republic Act No. 12066 SECTION 1. SCOPE., – Pursuant to Sections 244 and 245 of the National Internal Revenue Code of 1997, as amended (Tax Code), in relation to Sections 5 and 32 of Republic Act (RA) No. 12066, these Regulations are hereby promulgated to further amend Section 2.57.2 of Revenue Regulations (RR) NO.2-98, as amended, by revising the withholding tax rates and adjusting the basis of certain income payments. SECTION 2. AMENDATORY PROVISIONS. – Section 2.57.2 (H) and (X) of RR No. 2-98, as renumbered and amended to read as follows:“Sec. 2.57.2. Income payments subject to credible withholding tax rates prescribed thereon. – (H) Certain income payments made by credit card companies – On
Availability of the Alphalist Data Entry and Validation Module Version 7.4 This Circular is hereby issued to inform all concerned taxpayers that the Alphalist Data Entry and Validation Module Version 7.4 is now available for use and can be downloaded from the website of the Bureau of Internal Revenue. The 7.4 version comprises the newly-created alphanumeric tax codes and updates rates for transactions under the creditable and final withholding taxes. In this connection, the deadline of submission of the alphalist for taxable year 2024 under BIR Form Nos. 1604C, 1604F, 1601EQ and 1601FQ shall be thirty (30) days immediately after the date of posting in the BIR website of this Circular. In cases of alphalists previously submitted using the old version of 7.3 data entry module but with error reply messages from eSubmission facility of Bureau of Internal Revenue, the concerned taxpayers shall re-submit the said alphalists within the same
This Circular is issued to provide clarifications and realign inconsistencies on certain provisions of Revenue Memorandum Circular (RMC) No. 75-2024 relative to the mandatory requirements for Tax Credit Certifies or cash refund of excess/unutilized CWT on income under Section 76(C), in relation to Sections 204(C) and 229 of the Tax Code. I. Clarification to certain provisions and requirements II. Changes in Documentary Requirements To effect the changes above, Annex “A.1” is hereby renumbered as Annex “A.1.1” and Annex “A.1.2” is added as the mandatory requirements for individual taxpayer-claimant. Copies of the said Annexes are hereto attached for reference. This correspondingly amends Annexes “A.1”, “A.2” and “A.4” of RMC No. 75-2024.
Further Amending the “De Minimis” Benefits Provisions of Revenue Regulations No. 2-98, as Amended, Increasing the Clothing Allowance pursuant to Republic Act No. 11975, the Fiscal Year 2024 General Appropriations Act, and Employees Achievement Awards Pursuant to Sections 4 and 244 in relation to Section 33 of the Tax Code of 1997, these regulations are hereby promulgated to further amend RR Nos. 2-98, as amended, with respect to “De Minimis” benefits which are exempt from income tax on compensation as well as from income tax on compensation a well as from fringe benefit tax in relation to the implementation of Republic Act No. 1146. Section 1. Section 2.78.1 of RR No. 2-98, as last amended by RR No. 11-2018, is hereby further amended to read as follows: “Section 2.78.1. Withholding of Income Tax on Compensation Income Section 2. Repealing Clause – All existing rules and regulations and other issuances or
Live Webinar: Withholding Taxes, Subjects & Applications
Live Webinar: Returns and Reports Preparation under eBIR Forms and Online Submissions
Live Webinar 1 & 2: BIR Tax Compliance for VAT Entity
Live Webinar on Ph Payroll Computations and Taxation
Live Webinar: Input VAT Refund
Live Webinar: Value Added Tax: In and Out
Onsite Training: PEZA Registered Entities: Taxation and Basic Reports
Live Webinar: SEC Dividend Declarations
Onsite Training: Basic Bookkeeping for Non-Accountants
Onsite Seminar: BIR Examination: Their Procedures and Our Defenses
2025 Filing of Annual Financial Statements and General Information Sheet
Revenue Regulations No. 012-2025
Revenue Regulations No. 011-2025
Revenue Regulations No. 010-2025
Revenue Regulations No. 008-2025
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