Bureau of Internal Revenue Issuances
REVENUE MEMORANDUM CIRCULAR
RMC No. 36-2025
April 10, 2025
Lost one (1) set of used/filled-up but unissued BIR Form No. 0422 – Mission Order.
REVENUE MEMORANDUM ORDER
RMO No. 18-2025
April 10, 2025
Modification, Dropping and Creation of Alphanumeric Tax Code of selected revenue source under RA No. 12066 (CREATE MORE) Act.
RMO No. 19-2025
April 15, 2025
Creation of Alphanumeric Tax Code (ATC) of Selected Revenue Source under Revenue Regulations (RR) No. 007-2025.
ADVISORIES
All taxpayers filing through eBIRForms (Package v7.9.4.2) are advised of the delay or non-receipt of system-generated email confirmation from eBIRForms.
Click the link below to read the full news from the source:
https://bir-cdn.bir.gov.ph/BIR/pdf/Tax%20Advisory%20-%20eBIR%20Forms%20April%2015.jpg
Advisory on the schedule of Online Registration and Update System (ORUS) availability.
Click the link below to read the full news from the source:
https://bir-cdn.bir.gov.ph/BIR/pdf/ORUS%20ADVISORY%20-%20MARCH%2021%202025%20(1).pdf
TAX LAW
REPUBLIC ACT No. 12023 – VAT on Digital Services
Official Gazette / October 2, 2024
AN ACT AMENDING SECTIONS 105, 108, 109, 110, 113, 114, 115, 128, 236, AND 288 AND ADDING NEW SECTIONS 108-A AND 108-B OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED
REPUBLIC ACT No. 12066 – CREATE MORE
Official Gazette / November 13, 2024
AN ACT AMENDING SECTIONS 27, 28, 32, 34, 57, 106, 108, 109, 112, 135, 237, 237-A, 269, 292, 293, 294, 295, 296, 297, 300, 301, 308, 309, 310, AND 311, AND ADDING NEW SECTIONS 135-A, 295-A, 296-A, AND 297-A OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED, AND FOR OTHER PURPOSES
REPUBLIC ACT No. 12079 – A VAT Refund for Non- Resident Tourists
Official Gazette / December 9, 2024
AN ACT CREATING A VAT REFUND MECHANISM FOR NON-RESIDENT TOURISTS, ADDING A NEW SECTION 112-A TO THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED, FOR THE PURPOSE
SECURITIES AND EXCHANGE COMMISSION
SEC MEMORANDUM CIRCULAR No. 01 series of 2025
2025 FILING OF ANNUAL FINANCIAL STATEMENTS AND GENERAL INFORMATION SHEET
Click the link below to read the full news from the source:https://www.sec.gov.ph/wp-content/uploads/2025/03/2025MC_mc-no-1-series-2025.pdf
DRAFT IMPLEMENTING RULES AND REGULATIONS (IRR) | Department of Finance
The Department of Finance invites stakeholders to a Public Consultation on the Draft Implementing Rules and Regulations of Republic Act No. 12079, otherwise known as “An Act Creating a VAT Refund Mechanism for Non-Resident Tourists, Adding a New Section 112-A to the National Internal Revenue Code of 1997, As Amended, For The Purpose.”, on 17 March 2025, 1:00 PM – 4:00 PM via Zoom.
Interested participants may register via this link:
https://bir-gov-ph.zoom.us/meeting/register/j5Rtidr5S4y1qStWCBSDHw
The Draft Implementing Rules and Regulations may be accessed at:
Stakeholders may submit their official position papers via e-mail at esiriban@dof.gov.ph as the e-mail subject, please use:
“[COMMENT ON DRAFT VAT REFUND FOR TOURIST IRR]”
NOTE:
* Only registered attendees will be accommodated.
* Meeting link to be sent to confirmed attendees.
Proposed Revenue Regulations to Implement Republic Act 12066, Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act. - Implementing the Amendments to Sections 27, 28, and 34 of the National Internal Revenue Code of 1997, as Amended by Republic Act No. 12066 or the “Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy”
Click the link below to read the full news from the source:
https://bir-cdn.bir.gov.ph/BIR/pdf/CREATEMORE%20Draft%20RR.pdf
FIRB ISSUANCE
FISCAL INCENTIVES REVIEW BOARD
Official website: https://firb.gov.ph/
FIRB Advisory 001-2025
February 20, 2025
Circularizing the Implementing Rules and Regulations of Title XIII of Republic Act No. 8424 otherwise known as the “National Internal Revenue Code of 1997”, as Amended by Republic Act No. 12066
FOR: All Investment Promotion Agencies (IPAs), Other Government Agencies Administering Tax Incentives, Revenue Collecting Agencies, Registered Business Enterprises (RBEs) and Other Registered Entities, and All Other Key Stakeholders
This Advisory circularizes the IRR of Title XII of RA No. 8424 (NIRC of 1997), as amended by RA No. 12066 or the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act.
The IRR is issued in accordance with Section 32 of RA No. 12066, which mandates the Secretary of Finance and the Secretary of Trade and Industry to jointly promulgate the necessary rules and regulations for Title XII of the National Internal Revenue Code (NIRC) of 1997 within ninety (90) days form law’s effectivity
The CREATE MORE IRR was signed on February 17, 2025. Pursuant to Rule 25, Section 4 thereof, the IRR took effect on 20 February 2025 upon its publication in the Philippine STAR.
https://firb.gov.ph/download/firb-advisory-001-2025/
wpdmdl=4338&refresh=67b817f0c55c71740118000
FIRB Advisory No. 007-2024 – December 17, 2024
Interim Implementing Rules and Regulations (IRR) on the Availment of Incentives and Transfer of Registration as Provided Under Republic Act No. 12066
https://firb.gov.ph/download/firb-advisory-no-007-2024/?wpdmdl=4135&refresh=6776528c473f11735807628
WHAT ARE THE TAX INCENTIVES AVAILABLE?
- 4 to 7 years of income tax holiday (ITH)
- 10 years of special corporate income tax (SCIT) for export enterprises
- Enhanced deductions
- Customs duty exemption on importation
- Value-added tax (VAT) exemption on importation and VAT zero-rating on local purchases
TAX AND BUSINESS RELATED NEWS
BIR WEEKENDER BRIEFS
Volume No. 16 Issue No 15 Week ending April 11, 2025 – (BIR Website)
BIR continues to conduct enforcement activities last April 3 to 7, 2025.
Click the link below to read the full news from the source:
https://bir-cdn.bir.gov.ph/BIR/pdf/v16n15.pdf
DTI opens exporters’ certification for CREATE MORE incentives
The Philippine Star / Louella Desiderio / April 13, 2025-MANILA, Philippines
The government is extending incentives under the CREATE MORE Act to export-oriented enterprises (EOE), according to the Department of Trade and Industry. In a social media post, the DTI – Export Marketing Bureau (EMB) said that it is now accepting applications for the EOE certification under Republic Act 12066. Under the CREATE MORE Act, an EOE engaged in export activities and with export sales accounting for at least 70 percent of their total annual production for the preceding taxable year may apply for certification from the DTI-EMB to avail themselves of fiscal incentives such as the value-added tax (VAT) zero-rating on sales and services and VAT exemption on imports of goods. Signed into law last year, the CREATE MORE Act enhances the country’s incentives system.
Click the link below to read the full news from the source:
https://www.philstar.com/business/2025/04/13/2435514/dti-opens-exporters-certification-create-more-incentives
BIR reminds taxpayers: 1 day to go before April 15 ITR filing
Philippine Daily Inquirer / Ian Nicolas P. Cigaral / April 14, 2025 – MANILA, Philippines
The Bureau of Internal Revenue on Monday reminded the public about the April 15 deadline on the filing of 2024 annual income tax (AITR), adding an advice to taxpayers to pay as early as they can to avoid the rush and penalties for late payments. BIR Commissioner Romeo Lumagui Jr. earlier said there will be no extension of the deadline. The BIR requires taxpayers to file their 2024 AITR electronically using the bureau’s e-filing facilities, namely: Electronic BIR Forms (eBIRForms) or Electronic Filing and Payment System (eFPS) for those mandated to use it. Taxpayers without internet access may use the eLounge facility of the Revenue District Office (RDO) where they will be assisted in e-Filing their 2024 AITR.
Click the link below to read the full news from the source:
https://business.inquirer.net/519712/bir-reminds-taxpayers-1-day-to-go-before-april-15-itr-filing
Trump says no tariff exception granted for electronics
Philippine News Agency / April 15, 2025 – ISTANBUL
US President Donald Trump denied reports that his administration had granted a tariff exception for electronics like smartphones and chips, contrary to suggestions late last week that consumer tech products would be spared from sweeping reciprocal tariffs. “NOBODY is getting ‘off the hook’ for the unfair Trade Balances, and Non Monetary Tariff Barriers, that other Countries have used against us, especially not China which, by far, treats us the worst!’ Trump said Sunday on his Truth Social account. “These products are subject to the existing 20 percent fentanyl tariffs — they are just moving to a different Tariff ‘bucket,’” he added.
Click the link below to read the full news from the source:
https://www.pna.gov.ph/articles/1248058
BIR: No extension of April 15 deadline to file tax returns
Philippine Daily Inquirer / Ian Nicolas P. Cigaral / April 15, 2025 – MANILA, Philippines
Taxpayers have only until today, April 15, to file their 2024 annual income tax returns (AITR) to avoid penalties. Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr. had said there will be no extension of the deadline, arguing that they have been urging the public to pay their income taxes on time since February. Banks have also adjusted their operations to accommodate the anticipated wave of taxpayers, Lumagui added. READ: BIR: E-facilities to make tax return filing, payment ‘hassle-free’ To support the tax filing season, authorized banks remained open on two Saturdays in April (April 5 and April 12). Banking hours, meanwhile, were also extended until 5 p.m. from April 1 to April 15 to accept tax payments.
Click the link below to read the full news from the source:
https://business.inquirer.net/519899/bir-no-extension-of-april-15-deadline-to-file-tax-returns
BIR confident of hitting P3.2-T 2025 collection goal
Philippine News Agency / Joann Villanueva / April 15, 2025 – MANILA
Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui on Tuesday expressed confidence that the agency would reach its PHP3.23-trillion collection target this year amid the strengthened drive to encourage taxpayers to pay their dues. Citing preliminary figures for the first quarter of the year, Lumagui said revenues as of end-March reached PHP668.79 billion, or PHP3.2 million short of the PHP671.99-billion goal for the quarter. Collections in the first three months of this year are higher than the PHP593-billion revenue from a year ago.
Click the link below to read the full news from the source:
https://www.pna.gov.ph/articles/1248192
BIR expects to exceed Q1 goal despite shortfall in initial data
Business World / Aubrey Rose A. Inosante / April 15, 2025
THE Bureau of Internal Revenue (BIR) said it expects to exceed its first-quarter collection target even after preliminary totals of P668.99 billion fell short of the goal of P671.99 billion. First-quarter collections as initially reported were 12.78% higher year on year. Commissioner Romeo D. Lumagui, Jr. said at a briefing on Tuesday that the final total will likely bring the bureau beyond the target, driven by value-added tax collections.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2025/04/15/666265/bir-expects-to-exceed-q1-goal-despite-shortfall-in-initial-data/
Business as usual amid US tariff pause — DTI
Business World / Justine Irish D. Tabile / April 16, 2025
THE Department of Trade and Industry (DTI) said that business will continue as usual as the government awaits the final tariff rate that the US will impose on Philippine goods. “For now, it is 10% for everyone for 90 days. After the 90 days, that is when we will see what the tariffs will be,” DTI Secretary Ma. Cristina A. Roque told reporters in mixed English and Filipino on Tuesday. Last week, US President Donald J. Trump announced a 90-day pause on the higher reciprocal tariffs on most of the country’s trading partners. Association of Southeast Asian Nations (ASEAN) member countries are facing some of the highest duties. Cambodia is facing a 49% tariff, followed by Laos (48%), Vietnam (46%), Myanmar (44%), Thailand (36%), Indonesia (32%), Malaysia (24%), and Brunei (24%). The Philippines was slapped with a 17% tariff, which is the second lowest after Singapore’s baseline rate of 10%. Further, she said that the Philippines is “well-positioned” to attract trade relocation from high-tariff countries, especially for price-sensitive sectors like apparel, furniture, and food processing. “Compared to its regional peers, the Philippines benefits from a relatively lower reciprocal tariff rate, offering a strategic opening to enhance its export competitiveness, attract reconfigured global supply chains, and amplify its strengths in digital and service-driven industries,” she said. “The Philippines should strategically capitalize on its lower tariff rate by improving exemption coverage, broadening its product portfolio, and opening new export markets,” she added.
Click the link below to read the full news from the source:
https://www.bworldonline.com/corporate/2025/04/16/666263/business-as-usual-amid-us-tariff-pause-dti/#google_vignette
BIR confident of hitting ₱3.23-trillion goal after exceeding Q1 target
Manila Bulletin / Derco Rosal / April 16, 2025
Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr. is confident that the government’s main tax agency will meet its ₱3.23 trillion collection goal this year after it exceeded its first quarter targets. “Based on the progress of our programs that we have already laid out, and also based on the progress of the first months from January to March, our collection is running well,” Lumagui told reporters during the 2024 Annual Income Tax Returns (AITR) Filing Deadline, April 15. “In fact, we are over-targeted and that is also what we expect this month of April and in the next months,” Lumagui said.
Click the link below to read the full news from the source:
https://mb.com.ph/2025/4/16/bir-confident-of-hitting-3-23-trillion-goal-after-exceeding-q1-target
BIR sees rise in online AITR filings this year
The Philippine Star / Louise Maureen Simeon / April 16, 2025 – MANILA, Philippines
The Bureau of Internal Revenue (BIR) is seeing the impact of its digital transformation efforts, with more Filipinos opting to file and pay their annual income tax returns (AITRs) online this tax season. BIR Commissioner Romeo Lumagui observed a noticeable decrease in foot traffic at district offices and filing centers during the AITR deadline yesterday. “We are confident that the remaining taxpayers will comply, considering that we had a successful tax campaign this year,” Lumagui said. Late filings and payments will incur penalties, including a 12-percent interest charge, a 25-percent surcharge and additional compromise penalties. Under Philippine tax rules, individuals with taxable income are generally required to file income tax returns. However, exemptions apply to those earning P250,000 or less annually, employees covered by substituted filing, individuals whose income is subjected to final withholding tax and minimum wage earners.
Click the link below to read the full news from the source:
https://www.philstar.com/headlines/2025/04/16/2436357/bir-sees-rise-online-aitr-filings-year
BIR collection hits P669 billion in first quarter
The Philippine Star / Louise Maureen Simeon / April 16, 2025 – MANILA, Philippines
The Bureau of Internal Revenue (BIR) saw its tax collection rise to P669 billion in the first quarter on the back of improved value-added tax (VAT) take. During the annual income tax return filing deadline on Tuesday, BIR Commissioner Romeo Lumagui Jr. said preliminary data showed that collections reached P668.79 billion from January to March. “In fact, we saw higher compliance among corporations. Ghost receipts target the VAT rather than the income tax,” he said. VAT collections contribute about 22 percent to the entire BIR collection every year.
Click the link below to read the full news from the source:
https://www.philstar.com/business/2025/04/16/2436301/bir-collection-hits-p669-billion-first-quarter
Download File:
