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 17 and 25 of Republic Act (RA) No. 12214, otherwise known as the “Capital Markets Efficiency Promotions Act” (CMEPA), these Regulations are hereby promulgated to implement the rate adjustment of STT and impositions of the STT on the sale or exchange of domestic shares of stocks and other securities listed and traded through a foreign stock exchange under Section 127 Tax Code. SECTION 2. DEFINITION OF TERMS – For purposes of these Regulations, the following definition of words and phrases are hereby adopted: (a) Shares of stock shall refer to shares of stock of a corporation, warrants, options, as well as units of participation in partnership (except general professional partnerships), joint stock companies, joint accounts, joint ventures taxable as corporations, associations, and recreation or
Implementing the Documentary Stamp Tax (DST) Rate Adjustments and Amendments to the Documents and Papers Not Subject to DST Under Republic Act No. 12214, Otherwise Known as the “Capital Markets Efficiency Promotion Act” SECTION 1 . SCOPE – Pursuant to Sections 244 and 255 of the National Internal Revenue Code of 1997, as amended (Tax Code), in relation to Sections 19,20,21,23, and 25 of Republic Act (RA) No. 12214, otherwise known as “Capital Markets Efficiency Promotion Act” (CMEPA), these Regulations are hereby promulgated to implement the rate adjustments for DST under Sections 174, 176, and 179 of the tax Code and the amendments to the documents and papers not subject to DST under Section 199 of the same Code. SECTION 2. COVERAGE – These Regulations shall cover documents, loan agreements, instruments, papers, acceptances, assignments, sales and transfers of the obligation, right or property incident thereto in respect of the transactions
This Circular is issued to inform all concerned parties of the validity period of the Certificates of Accreditation that are set to expire on July 31, 2025 under Revenue Memorandum Circular No. 107-2019. Developers/dealers/suppliers/pseudo-suppliers of “Sales Machines/Software” whose Certificate of Accreditation are valid until July 31,2025 and onwards must apply for a new accreditation following the policies and procedures prescribed under Revenue Memorandum Order (RMO) No. 24-2023. Additionally, invoices and other accounting records generated by these systems must comply with the requirements set forth in the Revenue Regulations (RR) No. 7-2024. Moreover, pursuant to RR No. 6-2022, all Permits to Use (PTU) Cash Register Machines (CRMs), Point-of-Sale (POS) and Other Similar Sales Machines/Software do not expire and do not need to be cancelled or revoked upon expiry of the Certificate of Accreditation of the Software that was used during applications for the sales machine’s/software’s PTU.
Amending pertinent provisions of Revenue Regulations No. 25-2003, as Amended, to Implement Section 149 of the National Internal Revenue Code of 1997, as Further Amended Under Section 18 of Republic Act No. 12214, Otherwise Known as the ” Capital Markets Efficiency Promotion Act” Section 1. SCOPE – Pursuant to Section 244 and 245 of the National Internal Revenue Code of 1997, as amended (Tax Code), in relation to Sections 18 and 25 of Republic Act (RA) No. 12214, otherwise known as the “Capital Markets Efficiency Promotion Act” (CMEPA), these Regulations are hereby promulgated to amend Revenue Regulations (RR) No. 25-2003, as amended, in relation to RR No. 5-2018, mainly for the purpose of removing pick-ups from the list of tax-exempt automobiles. Section 149 of the Tax Code, as further amended by Section 18 of the CMEPA, which now reads, as follows: “SEC.149. Automobiles – There shall be levied, assessed and
I. Background Pursuant to Republic Act (RA) No. 12023 and its implementing rules under Revenue Regulations (RR) No. 3-2025, digital services rendered by Nonresident Digital Service Providers (NRDSPs) to consumers in the Philippines are now subject to VAT. In line with the digitalization efforts of the Bureau of Internal Revenue (BIR) to align with international standards, the VAT on Digital Services (VDS) Portal was developed to facilitate the registration, filing of returns, and payment of VAT by NRDSPs. II. Objectives This Circular is hereby issued to provide guidelines and procedures on the registration, filing of returns, and payment of VAT by NRDSPs through the VDS Portal and clarify the imposition of penalties on the late filing and payment of VAT. III. Definition of Terms IV. General Guidelines v. Procedures
BACKGROUND Pursuant to Republic Act (RA) No. 12023 and its implementing rules under Revenue Regulations (RR) No. 3-2025, digital services rendered by Nonresident Digital Service Providers (NRDSPs) to consumers in the Philippines are now subject to VAT. In line with the digitalization efforts in the Bureau of Internal Revenue (BIR) to align with international standards, the VAT on Digital Services (VDS) Portal was developed to facilitate the registration, filing of returns, and payment of VAT by NRDSPs. OBJECTIVES This Circular is hereby issued to provide guidelines and procedures on the registration, filing of returns, and payment of VAT by NRDSPs through the VDS Portal and clarify the imposition of penalties on the late filing and payment of VAT DEFINITION OF TERMS GENERAL GUIDELINES PROCEDURES EFFECTIVITY All internal revenue officials, employees and others concerned are hereby enjoined to gibe this Circular as wide publicity as possible. This Circular shall take effect
In all my years working in Corporate Secretarial Services, I’ve noticed that the importance of the Corporate Secretary position in Philippines is often overlooked—especially by start-up corporations. The role of the Corporate Secretary in Philippines is important, just like any other officers and corporations should invest in. Most common misconceptions about the Corporate Secretary in Philippines is that anyone can just be appointed as Corporate Secretary and hiring one from outside of the organization is just an unnecessary expense. In reality, however, Corporate Secretaries in Philippines carries legal responsibilities. Aside from the basic requirements that the Corporate Secretary in Philippines must be citizen and resident, they play vital role in setting up the Corporation. The role requires some knowledge of basic corporate laws and rules, governance, and regulatory frameworks. A qualified Corporate Secretary helps avoid costly penalties, legal disputes, and reputational damage—making them a strategic investment, not a sunk cost.
Clarification on Certain Issues Pertaining to Compliance with the Documentary Requirements in Availing Value-Added Tax (VAT) Zero-Rating on Local Purchases of Duly-Registered Business Enterprises (RBEs) III. Repealing Clause All revenue issuances and BIR Rulings inconsistent herewith are hereby amended, modified or revoked accordingly.
For the information and guidance of all internal revenue officials, employees and other concerned, this is to circularized Section 27 of Republic Act No. 12214, otherwise known as the “Capital Markets Efficiency Promotion Act” (CMEPA), which provides for the repeal or modifications of the tax exemptions of certain transaction under various laws, to wit:
This Circular is issued to amend and align the provisions of Revenue Memorandum Circular (RMC) No. 92-2024 with Sections 188,193, and 201 of the Tax Code, specifically on the payment and affixture of loose documentary stamps to taxable documents prior to notarization. To assist the Bureau of Internal Revenue (BIR) in its tax enforcement, assessment and collection functions, a Memorandum dated November 15, 2024 was issued by the Supreme Court reminding the notaries public to strictly comply with Paragraph 2, Section 201 of the Tax Code, viz: “No notary public or other officer authorized to administer oaths shall add his jurat or acknowledgement to any document subject to documentary stamp tax unless the proper documentary stamps are affixed thereto and cancelled.” The following amendments are hereby introduced to some provisions of RMC No. 92-2024 (additions underlined): I. Guidelines on the Payment and Affixture of Loose Documentary Stamps 2. The affixture
Live Webinar 2025 ITR (1702 MX) Filing Reminders for PEZA-Registered Entities
Live Webinar: SEC Dividend Declarations
Live Webinar 1 & 2: BIR Tax Compliance for VAT Entity
Live Webinar: PEZA Registered Entities: Taxation and Basic Reports
Live Webinar: Basic Bookkeeping for Non-Accountants
Live Webinar: Winning BIR Tax Assessments Series: Process, Remedies & Writing Effective Protest
SEC MEMORANDUM CIRCULAR NO. 9 – 2026 Filing of Annual Financial Statements and General Information Sheet
Revenue Regulations No. 029-2025
Revenue Regulations No. 28-2025
Revenue Regulations No. 27-2025 Amends Section 8 of Revenue Regulations No. 25-2003 on the Tax Treatment of Subsequent Sale, Transfer of Exchange of Tax-Exempt Automobile by a Tax-Exempt Person/Entity to a Non-Exempt Person/Entity
Revenue Regulations No. 26-2025 Amending the Transitory Provision of Revenue Regulations No. 11-2025 Extending the Compliance Period for Electronic Invoice Issuance by Covered Taxpayers
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