Bureau of Internal Revenue Issuances
REVENUE MEMORANDUM CIRCULAR
RMC No. 47-2025
May 8, 2025
Clarifying the provisions of RR No. 3-2025, implementing RA No. 12023 titled “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,” imposing the Value-Added Tax on Digital Services.
RMC No. 48-2025
May 8, 2025
Clarification on the computation of Excise Tax on mineral products.
RMC No. 49-2025
May 9, 2025
Availability of offline Electronic Bureau of Internal Revenue Forms (eBIRForms) Package Version 7.9.5.
RMC No. 50-2025
May 13, 2025
Lost two (2) sets of unused/unissued BIR Form No. 0423 – Apprehension Slip.
RMC No. 51-2025
May 13, 2025
Publishing the updated list of registered manufacturers/importers/exporters with the corresponding product brands/variants of cigarettes, heated tobacco products, vapor products, novel tobacco products, cigars and chewing tobacco products with the corresponding products/brands/variants and integration of the requirements for compliance purposes.
Full Text | Annex A | Annex B | Annex C | Annex D | Annex E | Annex F |
Annex G | Annex H | Annex I | Annex J | Annex K | Annex L | Annex M
REVENUE ADMINISTRATIVE ORDERS
RAO No. 1-2025
May 13, 2025
Renaming of Revenue Region (RR) No. 12 – Bacolod City to RR No. 12 – Negros Island Region.
TAX ADVISORY
Revenue Memorandum Circular No. 49-2025 announces the availability of offline Electronic Bureau of Internal Revenue Forms (eBIRForms) Package Version 7.9.5
Click the link below to read the full news from the source:
https://bir-cdn.bir.gov.ph/BIR/pdf/RMC%20No.%2049-2025.pdf
All taxpayers are advised that the Electronic One-Time Transaction (eONETT) System shall be temporarily unavailable beginning May 1, 2025.
Click the link below to read the full news from the source:
https://bir-cdn.bir.gov.ph/BIR/pdf/Advisory%20on%20eONETT%20may%201.pdf
Unavailability of Online Registration and Update System (ORUS), Electronic ONETT System (eONETT), Mobile Revenue Collection Officers System (MRCOS) and Enhanced Accounts Receivable Management System due to systems migration.
Click the link below to read the full news from the source:
https://bircdn.bir.gov.ph/BIR/pdf/Advisory%20Unavailability%20for%20eServices%20(0014).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
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/
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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 20 Week ending May 16, 2025 – (BIR Website)
BIR revenue district offices conducted an initial GAP Assessment and Tax Compliance Verification Drive.
Click the link below to read the full news from the source:
https://bir-cdn.bir.gov.ph/BIR/pdf/v16n20.pdf
Lumagui: BIR Night Raid results in the seizure of over 81,000 illicit vape pods with over ₱543 Million in tax liabilities; Illicit Vape Criminals have resorted to using Houses and Garages to hide their illicit vape products
BIR Website / May 15, 2025
The Bureau of Internal Revenue (BIR), headed by Commissioner Romeo D. Lumagui Jr., seized illicit vape products with ₱543,739,072.80 in tax liability, including penalties, during a joint enforcement operation with the National Bureau of Investigation last May 8, 2025. The night raid was conducted at a residential compound in Marilao, Bulacan. Inside the garage of the raided house 406 master cases containing an estimated 81,200 vape pods under the brand “TEAM PAPA” were confiscated. Said vape products were discovered without the mandatory BIR-issued excise stamps, in clear violation of the National Internal Revenue Code of 1997, as amended (Tax Code)
Click the link below to read the full news from the source:
https://bir-cdn.bir.gov.ph/BIR/pdf/PR19MAY1525.pdf
VAT liabilities of non-resident DSPs ‘Let’s Talk Tax’
Business World / Tonee Rose M. Palomeno / May 12, 2025
Last year marked a significant chapter in tax reform, with new laws enacted to amend and update the National Internal Revenue Code (Tax Code). Among these is Republic Act (RA) No. 12023, which imposes a 12% VAT on all digital services consumed in the Philippines. RA 12023 introduced Section 108-A to the Tax Code, outlining the liabilities of persons providing digital services. Whether individual or juridical, resident or non-resident, those who supply or deliver digital services in the Philippines are now responsible for assessing, collecting, and remitting the corresponding VAT on these services, subject to the rules of withholding VAT. Prior to this law, only resident digital service providers were subject to VAT. With RA 12023, non-resident digital service providers (NRDSPs) are now also liable for VAT. To implement and clarify certain aspects of the law, specifically on the liabilities of NRDSPs, the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 3-2025 and RR No. 14-2025, as well as Revenue Memorandum Circular (RMC) No. 47-2025.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2025/05/12/672032/vat-liabilities-of-non-resident-dsps/
Hospitals bat for tax perks, lower import tariffs
Business World / Justine Irish D. Tabile / May 12, 2025
THE GOVERNMENT needs to provide tax incentives and streamline the import process for key healthcare goods, the hospital industry said. “The government is providing incentives for the tourism industry, so why not healthcare?” Private Hospitals Association of the Philippines, Inc. President Jose Rene de Grano told BusinessWorld. He said tax incentives will ease the burden of acquiring capital-intensive hospital equipment. “Actually, some of our smaller hospitals would like to expand, but there’s a lot of equipment needed, which is expensive, so they can’t do it,” he said.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2025/05/11/671877/hospitals-bat-for-tax-perks-lower-import-tariffs/
Recto does not expect DSPs to pass VAT on to consumers
Business World / Aubrey Rose A. Inosante / May 12, 2025
FINANCE Secretary Ralph G. Recto said digital service providers (DSPs) are likely to absorb the new value-added tax (VAT) on digital services, instead of passing the cost on to consumers. “Frankly, I don’t expect prices to increase but shouldered by providers,” Mr. Recto told BusinessWorld via Viber. The government will start to enforce the 12% VAT on digital services consumed in the Philippines on June 1, after President Ferdinand R. Marcos, Jr. signed the law in October. The VAT was designed to level the playing field for all DSPs, because Philippine companies have to pay VAT, putting them at a disadvantage to foreign platforms such as Netflix, Spotify, Amazon, Lazada. The Department of Finance has said that the government will generate P102.12 billion in revenue from the VAT between 2025 and 2028. Digital platforms have started to announce price hikes before the VAT rules take effect.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2025/05/12/672035/recto-does-not-expect-dsps-to-pass-vat-on-to-consumers/
SEC vows continued reforms for FATF compliance
Business World / Revin Mikhael D. Ochave / May 12, 2025
THE Securities and Exchange Commission (SEC) is aiming to continue its reforms and initiatives to help keep the country off the Financial Action Task Force’s (FATF) gray list ahead of the scheduled assessment in 2027, its chairman said. “The next two years will be crucial for the country as we prepare for the next round of mutual evaluation for the assessment of our anti-money laundering and counter-terrorism financing (AML/CFT) framework,” SEC Chairperson Emilio B. Aquino said in an e-mail statement over the weekend.
Click the link below to read the full news from the source:
https://www.bworldonline.com/corporate/2025/05/12/671832/sec-vows-continued-reforms-for-fatf-compliance/
RR 8-2025: Stricter framework for requests for reconsideration of denied refund claims ‘Top of Mind’
The Philippine Star / Maria Evita Igot / May 13, 2025
On Feb. 27, 2025, the Bureau of Internal Revenue issued Revenue Regulations (RR) 8-2025, to streamline the procedure for handling requests for reconsideration of fully or partially denied claims for refund of creditable input taxes under Section 112(A) and (B) of the Tax Code; and excise tax paid on petroleum products under Section 135-A of the Tax Code. This regulation aims to establish consistency and efficiency, but it does so by placing a far greater burden on taxpayers to comply with strict procedural rules. In prior years, taxpayers often benefitted from informal leniency, submitting additional documents post-filing or clarifying factual matters directly with the BIR officer handling the claim. Now, the new process has removed any opportunity to correct or clarify factual concerns administratively. Effective April 1, 2025, the regulation marks a sharp departure from past practices and imposes a more rigid structure for taxpayers seeking to reverse a denial of a refund claim from the BIR. Based on RR 8-2025, the BIR will not revisit questions of fact, review additional submissions or entertain any new supporting documents. Hence, a request for reconsideration is simply a request to re-evaluate a denial based solely on legal grounds, using only the documentation that was originally submitted.
Click the link below to read the full news from the source:
https://www.philstar.com/business/2025/05/13/2442599/rr-8-2025stricter-framework-requests-reconsideration-denied-refund-claims
CTA junks P28.9-M tax refund sought by Fort Bonifacio Development Corporation
Manila Bulletin / Czarina Nicole Ong Ki / May 13, 2025
For lack of jurisdiction, the Court of Tax Appeals (CTA) has dismissed the petition filed by Fort Bonifacio Development Corporation against the Bureau of Internal Revenue (BIR) for a tax refund of P28.9 million in alleged deficiency value added tax (VAT) from July 1 to Dec. 31, 2014. Fort Bonifacio Development received the Letter of Authority (LOA) from the BIR dated Oct. 7, 2016 from the bureau’s Large Taxpayers Service (LTS) which authorized its officers to examine the firm’s books of accounts and other accounting records for VAT. The corporation then received on Aug. 24, 2017 a Preliminary Assessment Notice (PAN) dated Aug. 18, 2017 for deficiency VAT in the total amount of P32,037,684.30.
Click the link below to read the full news form the source:
https://mb.com.ph/2025/05/13/cta-junks-p289-m-tax-refund-sought-by-fort-bonifacio-development-corporation
Tax recalibration urged amid record rise in illegal cigarette trade
Manila Bulletin / Derco Rosal / May 13, 2025
With illegal tobacco incidence reaching an all-time high of 18.2 percent in 2024, Philippine Tobacco Institute (PTI) has urged the Marcos administration to recalibrate tax rates to help reverse the declining state of the tobacco industry. The latest industry data showed that illicit cigarettes jumped sharply from 5.4 percent of total cigarettes in the market in 2020, at the height of the pandemic, to 18.2 percent last year. This trend reflects a steep 240-percent surge over the four-year period. “There is overwhelming evidence that illegal tobacco and vape products are exploding across the country,” PTI president Jericho B. Nograles said in a statement released on Monday, May 12
Click the link below to read the full news from the source:
https://mb.com.ph/2025/05/13/tax-recalibration-urged-amid-record-rise-in-illegal-cigarette-trade
Capital gains tax hike expected to make land more costly, deterring investment
Business World / Beatriz Marie D. Cruz / May 13, 2025
PROPOSALS to increase capital gains tax (CGT), donor’s tax and estate tax could make land more expensive and weaken investor activity, the real estate industry said. “Attempts to impose further tax burdens on property transactions will lead to spiraling land prices, economic destabilization, and loss of employment opportunities,” Chamber of Real Estate and Builders’ Associations, Inc. (CREBA) said in a statement. Last month, the Department of Finance (DoF) retracted its proposed amendments to the Capital Markets Efficiency Promotion Act (CMEPA), citing a favorable revenue performance in the first quarter. The DoF earlier sought to replace the CMEPA with the Government Revenues Optimization through Wealth Tax Harmonization bill. The draft bill proposes a temporary hike in the rates for capital gains on real property, donor’s tax, and estate tax to 10% between 2025 and 2030. Beginning 2031, the rates will be reduced to 6%.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2025/05/13/672326/capital-gains-tax-hike-expected-to-make-land-more-costly-deterring-investment/
Tobacco taxes need ‘calibration’ to reverse decline in excise revenue
Business World / Aubrey Rose A. Inosante / May 13, 2025
THE Philippine Tobacco Institute (PTI), an industry lobby, said taxes for tobacco need to be overhauled to contain the growing share of illicit tobacco in the market and ensure the government collects adequate sin taxes. “There is an urgent need to calibrate the tax rate to an optimal level and enhance enforcement and prosecution efforts so we can fully realize the benefits of the Sin Tax Law for both public health and government revenue,” PTI said in a statement on Tuesday.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2025/05/13/672327/tobacco-taxes-need-calibration-to-reverse-decline-in-excise-revenue/
Soon taking effect: The 12% VAT on digital services ‘Taxwise Or Otherwise’
Business World / Elinelle D. Saldaña / May 14, 2025
As the digital economy continues to expand, governments worldwide are adapting their tax systems to keep pace. The Philippines is no exception. Starting on June 2, digital services consumed within the country will be subject to a 12% Value-Added Tax (VAT), following the signing of Republic Act (RA) No. 12023 and its implementing rules. This landmark legislation targets non-resident digital service providers (NRDSPs), bringing previously untaxed online transactions into the formal tax system. From streaming subscriptions and cloud storage to online advertising and software services, this VAT imposition will affect a wide range of services used by individuals and businesses alike. Consumers may have to pay higher prices; meanwhile, foreign digital service providers face new registration, reporting, and compliance obligations in the Philippines. In this article, I will discuss the key features of RA No. 12023 and its implementing rules, and what this means for local consumers, businesses, and non-resident service providers.
REGISTRATION, INVOICING AND VAT REMITTANCE
For NRDSPs, this new VAT regime comes with crucial registration and reporting obligations. RA 12023 also outlines the VAT treatment for different transaction types, with distinct responsibilities for Business-to-Business (B2B) and Business-to-Consumer (B2C) interactions. In B2B transactions, the Philippine-based business consumer or buyer is responsible for accounting and remitting the 12% VAT under a reverse charge mechanism using BIR Form No. 1600-VT. The VAT remitted using this form may then be applied as input VAT credit by the Philippine business consumer. Conversely, in B2C transactions, the NRDSP is directly liable for the VAT and must file and remit it through the VDS Portal.
CHALLENGES AND PRACTICAL IMPLICATIONS
The implementation of VAT on digital services presents significant challenges for NRDSPs. These providers must review and possibly adjust their invoicing systems to comply with the new Philippine requirements. For B2B transactions, NRDSPs will need to clearly indicate on their invoices that the local buyer is responsible for VAT while for B2C transactions, they will need to ensure that VAT is either included as a separate line item or stated as part of the total amount.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2025/05/14/672629/soon-taking-effect-the-12-vat-on-digital-services/
CTA OKs P31.7-M tax refund for maintenance meds importer
Philippine News Agency / Benjamin Pulta / May 14, 2025 – MANILA
The Court of Tax Appeals (CTA) has granted a PHP 31.75 million tax refund claim filed by a local importer of maintenance medicines for erroneously paid taxes in 2020. In a 19-page decision of the CTA’s Third Division dated May 9, 2025, the tax court granted the petition filed by Novartis Healthcare Philippines, Inc. (NHPI) on June 27, 2022. Records showed that from July 1 to Dec. 31, 2020, NHPI imported certain prescription drugs and medicines from foreign suppliers, Novartis Pharma AG and Novartis Saglik Gida Ve Tarim, to be sold in the Philippine retail market. To allow the release of the imported products from the Bureau of Customs (BOC), the firm paid value-added tax (VAT) on the said importations.
Click the link below to read the full news from the source:
https://www.pna.gov.ph/articles/1250074
Tax relief, rise in domestic employment eyed to aid workers – DOLE
Manila Bulletin / Trixee Rosel / May 14, 2025
Proposals to ease the impact of rising living costs on Filipino workers include possible tax breaks and expanded employment opportunities, the Department of Labor and Employment (DOLE) said. DOLE Secretary Bienvenido Laguesma said that while wage adjustments are being reviewed by regional wage boards, broader interventions—such as reduced taxes for workers and support for small businesses—are also under consideration to help ease financial strain. “Any tax-related proposals would require careful economic assessment, since government revenues from taxation fund critical social services and public investments,” Laguesma said. He added that the Marcos administration is also advancing complementary efforts, including the institutionalization of the KADIWA program to stabilize the prices of basic goods
Click the link below to read the full news from the source:
https://mb.com.ph/2025/05/14/tax-relief-rise-in-domestic-employment-eyed-to-aid-workers-dole
Government urged to lower tobacco tax rates
The Philippine Star / Louise Maureen Simeon / May 14, 2025 – MANILA, Philippines
The government should consider lowering tobacco tax rates to replenish its declining revenues as illicit trade and price disparity worsen, the Philippine Tobacco Institute said. PTI said tax policies and illicit trade are inextricably linked as the organization pushes for the recalibration of tobacco excise taxes and enhancement of enforcement and prosecution efforts. It issued the call days before the Senate Committee on Ways and Means discusses House Bill 11360, which seeks to adopt an odd-even scheme in hiking the tobacco excise taxes: two percent every even-numbered year and four percent every odd-numbered year until 2035. The proposed measure aims to cut down the current tobacco excise tax rate, which increases by five percent annually, with a base tax of P60 per pack.
Click the link below to read the full news from the source:
https://www.philstar.com/business/2025/05/14/2442876/government-urged-lower-tobacco-tax-rates
No decision yet on new SEC chief
Business World / Chloe Mari A. Hufana / May 14, 2025
PRESIDENT Ferdinand R. Marcos, Jr., has not yet decided whether he would replace or extend the term of the Securities and Exchange Commission (SEC) chairman as his term ends on June 6, the Presidential Communications Office (PCO) said on Wednesday. Palace Press officer Clarissa A. Castro, in a news briefing at the Palace, also belied a shortlist of five legal luminaries who may replace SEC Chairman Emilio B. Aquino. “At this moment, we have not received any information about that. We will give you any updates if there are any,” she said. She also did not provide a timeline for when Mr. Marcos would name the new chief of the country’s top corporate regulator.
Click the link below to read the full news from the source:
https://www.bworldonline.com/the-nation/2025/05/14/672556/no-decision-yet-on-new-sec-chief/
12% VAT on digital services threatens to hike telemedicine costs for Filipino patients
Manila Bulletin / Derco Rosal / May 15, 2025
Telemedicine rates would also likely rise due to the collection of the 12-percent value-added tax (VAT) on digital services to be implemented by the government, according to the tax advisory firm KPMG. KPMG noted in a report published on May 12 that the Bureau of Internal Revenue’s (BIR) revenue memorandum circular released on May 8 clarified that telemedicine services are among the digital services covered by the new tax measure. “The circular clarifies the extent of the rules by stating that the regime also applies to teleconsultation platforms when appointments are booked through a website, applications, or e-marketplace,” KPMG said. “Digital services” refer to services provided online or through electronic networks, mainly delivered through automated systems.
Click the link below to read the full news from the source:
https://mb.com.ph/2025/05/15/12-vat-on-digital-services-threatens-to-hike-telemedicine-costs-for-filipino-patients
BIR reminds 2025 candidates of tax obligations after elections
Philippine News Agency / May 15, 2025 – MANILA
The Bureau of Internal Revenue (BIR) is reminding all candidates and political parties who ran in the 2025 elections that they are subject to tax regulations and must comply with key requirements as part of their duties as candidates for public office. In a television interview, BIR Commissioner Romeo Lumagui Jr. emphasized that all candidates and political organizations, including party-list groups must issue BIR-registered invoices for contributions they receive, whether in cash or in kind. “At pag nagbabayad sila sa kanilang mga suppliers ay kinakailangan nilang mag-withhold ng 5 percent dun sa kanilang suppliers (They also need to withhold 5 percent when they pay to their suppliers),” he said, as quoted in a news release on Thursday. He added that candidates must keep track of their expenses and submit detailed reports, or Statement of Contribution and Expenditure (SOCE), not just to the Commission on Elections but also to the BIR.
Click the link below to read the full news from the source:
https://www.pna.gov.ph/articles/1250220
Win or lose, all bets must submit SOCEs’
The Philippine Star / Mayen Jaymalin, Emmanuel Tupas / May 15, 2025 – MANILA, Philippines
The Commission on Elections (Comelec) has issued a firm reminder to all candidates, political parties and party-list groups, both winners and losers, to file their Statement of Contributions and Expenditures (SOCE) by June 11 to avoid penalties. “No elected candidate shall assume office unless the submission of SOCE is complied with within the period allowed by law,” the Comelec said. Comelec Chairman George Garcia noted that the SOCE must reflect the total amount of campaign expenditures, as well as all contributions and donations received. The document must be notarized and any false declarations may result in perjury charges. Unspent campaign funds, meanwhile, must also be declared and reported to the Bureau of Internal Revenue (BIR) for appropriate tax processing, Garcia added
Click the link below to read the full news from the source:
https://www.philstar.com/headlines/2025/05/15/2443240/win-or-lose-all-bets-must-submit-soces
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