Bureau of Internal Revenue Issuances
REVENUE MEMORANDUM CIRCULAR (RMC)
RMC No. 18-2024
January 31, 2024
Announces the availability of BIR Form Nos. 1700 and 2000 in the Electronic Filing and Payment System (eFPS)
REVENUE DELEGATION OF AUTHORITY ORDER
RDAO No. 1-2024
January 29, 2024
Designates Deputy Commissioner of Operations Group as Officer-in-Charge of the Bureau of Internal Revenue in view of the official travel of the Commissioner
Tax And Business Related News
BIR WEEKENDER BRIEFS
Volume No. 15 Issue No. 4 Week ending January 26, 2024
BIR Revenue District Offices continue to intensify the conduct of tax enforcement activities from January 17 to 23 to enhance taxpayers’ voluntary compliance with the tax laws and regulations. more
Lumagui: BIR Exempts from Value-Added Tax 21 Medicines for Cancer, Diabetes, Hypertension, Kidney Disease, Mental Illness, and Tuberculosis
Bureau of Internal Revenue Commissioner Romeo D. Lumagui, Jr. issued Revenue Memorandum Circular No. 17-2024 exempting from VAT certain medicines for Cancer, Diabetes, Hypertension, Kidney Disease, Mental Illness, and Tuberculosis. The circular was issued due to the letter from the Food and Drug Administration of the Department of Health that endorsed an update on the list of VAT-Exempt Products under Republic Act No. 10963 and 11534.This is an update to the list of VAT-exempt drugs and medicines under Section 109(AA) of the National Internal Revenue Code of 1997, as amended by TRAIN Law and CREATE Act. Excellent Taxpayers Service will be the focus of BIR this 2024. This includes the issuance of circulars that would ease the financial burden of Filipinos that are suffering from the said diseases. Commissioner Lumagui aims to make the BIR an agency that is not merely goal-oriented, but also service-oriented. more
The fight against fake transactions continues
As part of its commitment to run after fake transactions, the BIR, headed by Commissioner Romeo D. Lumagui Jr., filed today another criminal complaint with the DOJ against a known cosmetic brand “Ever Bilena Cosmetics, Inc.” (Ever Bilena) together with its responsible corporate officers and Certified Public Accountant, for violations of Sections 254, 255, 267 and 257 of the National Internal Revenue Code of 1997, as amended. more
Run After Tax Evaders (RATE) Program / BIR ties up with NBI and CIDG for prosecution of Tax evaders
Two law enforcement agencies, the National Bureau of Investigation (NBI) and the Criminal Investigation and Detection Group (CIDG) have recently joined forces with the BIR to intensify the investigation, enforcement, and prosecution of tax evaders. Said initiative is I line with the Bureau’s re-invigorated Run After Tax Evaders (RATE) Program, which was institutionalized by Commissioner Joel L. Tan-Torres through the issuance of Revenue Memorandum Order (RMO) No. 27-2010 Last March 17. Background /Article / Status / FAQs
Quality Management System (QMS): The ISO Certification of the Bureau’s registration processes has been expanded in February 2021 to include 22 Revenue District Offices under 4 Revenue Regions
The ISO Certification of the Bureau’s registration processes has been expanded in February 2021 to include 22 Revenue District Offices under 4 Revenue Regions.– In line with the BIR’s commitment to improve the delivery of frontline services to taxpayers, forty-eight (48) Revenue District Offices (RDOs) under eight (8) Revenue Regions (RR) pursued the ISO Certification of their business registration processes. more
Government sees more revenue from e-cigarette taxes
(Philippine Star / Louise Maureen Simeon / January 26, 2024)
MANILA, Philippines — The domestic electronic cigarette and vape industry are expected to contribute in hitting the government’s revenue collection goal, as players are urged to pay the right taxes amid Filipinos’ shift to alternative smoking.
Click the link below to read the full news from the source:
https://www.philstar.com/business/2024/01/26/2328508/government-t-sees-more-revenue-e-cigarette-taxes
CTA affirms ruling granting part of Ginebra San Miguel’s refund claim
(BusinessWorld / John Victor D. Ordoñez / January 29, 2024)
THE Court of Tax Appeals (CTA) has affirmed its ruling, granting part of Ginebra San Miguel, Inc.’s (GSMI) refund claim for wrongly paid excise taxes on distilled spirits, totaling P319.76 million for the period from Jan.
Click the link below to read the full news from the source:
https://www.bworldonline.com/corporate/2024/01/29/571629/cta-affirms-ruling-granting-part-of-ginebra-san-miguels-refund-claim/
Sec Remulla settles complaints of social welfare, development agencies on tax deductions
(Manila Bulletin / Jeffrey Damicog / January 29, 2024)
Gatchalian sought the legal opinion after receiving several complaints from SWDAs for being required to secure accreditation from both the DSWD and the Philippine Council for Non-Government Organization Certification (PCNC) to be recognized by the Bureau of Internal Revenue (BIR) as donee institutions and get tax deductions.
Click the link below to read the full news from the source:
https://mb.com.ph/2024/1/28/sec-remulla-settles-complaints-of-social-welfare-development-agencies-on-tax-deductions
PEZA in agreement to promote IP protections in economic zones
(Business World / January 29, 2024)
THE Intellectual Property Office of the Philippines (IPOPHL) said it signed a deal with thee Philippine Economic Zone Authority (PEZA) to draft plans for promoting intellectual property (IP) protection to investors in the special economic zones (SEZs). In a statement, IPOPHL said that the memorandum of understanding it signed with PEZA will help ensure IP is respected especially in the innovative activities performed within SEZs.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2024/01/29/571954/peza-in-agreement-to-promote-ip-protections-in-economic-zones/
How BEPS Pillar 2 impacts taxation of Philippine entities of MNEs
(Business World / Sheena Marie Daño/January 29, 2024)
TECHNOLOGY is making the world smaller. More countries are linked and interconnected in trade relations, particularly in digital trade, which the Organization for Economic Co-operation and Development (OECD) Global Trade Forum highlighted would continue to grow, representing around 25% of total trade as of 2020. Likewise, the World Trade Statistical Review reported that digitally delivered services traded within Asia accounted for 43.2% of the continent’s total trade in 2021. UNDERSTANDING HE FUNDAMENTALS OF BEPS, UNDERSTANDING THE FUNDAMENTALS OF PILLAR 2 and THE PHILIPPINE IMPACT OF PILLAR 2.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2024/01/29/571956/how-beps-pillar-2-impacts-taxation-of-philippine-entities-of-mnes/
Supreme Court and Pag-IBIG Forge Historic Partnership to Empower Judiciary Employees with Access to Affordable Housing Solutions
(Supreme Court Website / January 30 2024)
Chief Justice Alexander G. Gesmundo led the signing of a Memorandum of Understanding (MOU) between the Supreme Court and the Home Development Mutual Fund (HDMF Pag-IBIG) at the Session Hall of the Supreme Court in Ermita, Manila on January 24, 2024.
Click the link below to read the full news from the source:
https://sc.judiciary.gov.ph/supreme-court-and-pag-ibig-forge-historic-partnership-to-empower-judiciary-employees-with-access-to-affordable-housing-solutions/
CTA junks PAL’s claim for tax refund on alcohol products importation
(Manila Bulletin / Czarina Nicole Ong Ki / January 30, 2024)
The Court of Tax Appeals (CTA) has denied the petition of Philippine Airlines, Inc. (PAL) which sought from the Bureau of Internal Revenue (BIR) a P1 million tax refund on the importation of alcohol products from 2013 and 2014. PAL wanted a reversal of the CTA’s third division ruling which denied its tax refund in a decision issued on June 10, 2022.
Click the link below to read the full news from the source:
https://mb.com.ph/2024/1/30/cta-junks-pal-s-claim-for-tax-refund-on-alcohol-products-importation
DOF limits tax-exempt status for pickup trucks
(Philippine Star / Louise Maureen Simeon / January 30, 2024)
The Department of Finance (DOF) is pushing for only one kind of pickup truck to remain tax-exempt as it insists on the removal of special excise treatment on all other types.
Click the link below to read the full news from the source:
https://www.philstar.com/business/2024/01/30/2329447/dof-limits-tax-exempt-status-pickup-trucks
‘No-new-taxes’ pledge highlights balancing act between taxpayer relief, hitting revenue goals
(Business World / Luisa Maria Jacinta C. Jocson /January 31, 2024)
THE Department of Finance (DoF) decision not to introduce new taxes this year points to a focus on improving tax collection efficiency and providing relief to the public, though it runs the risk of failing to raise sufficient revenue, analysts said.“No new or additional tax this year is a brilliant move,” Bienvenido S. Oplas, Jr., president of a research consultancy and of the Minimal Government Thinkers think tank, said in a Viber message, noting that tax hikes have short- to long-term inflationary impact. Finance Secretary Ralph G. Recto has said he does not plan to introduce any new taxes, citing the need to minimize inflation and improve tax administration.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2024/01/28/571647/no-new-taxes-pledge-highlights-balancing-act-between-taxpayer-relief-hitting-revenue-goals/
SEC pledges more data-sharing cooperation to improve tax effort –
(Business World / January 31, 2024)
THE Securities and Exchange Commission (SEC) pledged to pursue further data-sharing initiatives as its contribution to improving tax administration, after the Department of Finance (DoF) called on agencies to help make efficient taxation a driver of economic growth. During a meeting with SEC officials on Jan. 30, Finance Secretary Ralph G. Recto urged the corporate regulator to expand its data sharing with the Bureau of Internal Revenue (BIR). Currently, the SEC and BIR have data-sharing agreements to address tax evasion and money laundering.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2024/01/31/572645/sec-pledges-more-data-sharing-cooperation-to-improve-tax-effort/
The pitfalls of inadequate personal delivery in tax assessments
(Business World / Frenz Angelie B. Hechanova /January 31, 2024)
AMONG the priority programs and projects of the Bureau of Internal Revenue (BIR) in 2023 was to generate revenue via a range of audit and enforcement activities to ensure that taxpayers meet their obligations. While the BIR is yet to release its 2024 priority programs, I am willing to bet that tax audits will still be one of the priorities, considering that the first order of the newly sworn-in Finance Secretary Ralph G. Recto is to collect P4.3 trillion worth of taxes.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2024/01/31/572628/the-pitfalls-of-inadequate-personal-delivery-in-tax-assessments/
Recto gets credited by SSS for its successful savings and investment program for Filipinos
(Department of Finance / February 1, 2024)
Finance Secretary Ralph G. Recto was credited by the Social Security System (SSS) for the success of the Worker’s Investment and Savings Program (WISP), which was created under the Social Security Act of 2018 that he sponsored during his tenure as legislator. Established in January 2021 as part of Republic Act 11199, WISP is a mandatory provident fund scheme that serves as another savings for private-sector workers and other individual paying members of the SSS.
Click the link below to read the full news from the source:
https://www.dof.gov.ph/recto-gets-credited-by-sss-for-its-successful-savings-and-investment-program-for-filipinos/
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