RMO No. 28-2024
July 11, 2024
Further amending Revenue Memorandum Order (RMO) No. 24-2007, as amended by RMO No. 22-2009, on the preparation, consolidation and monitoring of BIR Form No. 1770 (Comparative Monthly Summary of Tax Returns/Payment Forms Filed) and its prescribed format
RMC No. 77-2024
July 11, 2024
Clarification on the invoicing requirements provided under Revenue Regulations (RR) No. 7-2024, as amended by RR No. 11-2024
Republic Act No. 12001
Official Gazette / June 13, 2024
An act instituting reforms in real property valuation and assessment in the Philippines, reorganizing the Bureau of Local Government Finance, granting of tax amnesty on real property and special levies on real property, and appropriating funds therefor
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Republic Act No. 12001 | Official Gazette of the Republic of the Philippines
BIR WEEKENDER BRIEFS
Volume No. 15 Issue No 27 Week ending July 5, 2024
A number of tax cases were filed by the BIR regional and district offices between June 26 and 28 under the Bureau’s Run After Tax Evaders (RATE) Program.
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https://www.bir.gov.ph/images/bir_files/internal_communications_5/2024%20Weekender%20Briefs/v15n27%20highres.pdf
COA en banc split on P115M tax refund claim vs BFP
Malaya Business Insight / Peter Tabingo / July 8, 2024
The Commission on Audit (COA) has granted a P115.06 million tax refund claim by a government supplier against the Bureau of Fire Protection (BFP). In a 12-page majority decision, COA chairperson Gamaliel A. Cordoba and Commissioner Mario G. Lipana ruled in favor of the petition filed by the Joint Venture of Kolonwel Trading and Hubei Jiangnan Special Automobile Co. Ltd. seeking refund of the value-added tax imposed on the procurement of 469 units of firetrucks worth P2.577 billion in 2015.
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COA en banc split on P115M tax refund claim vs BFP (malaya.com.ph)
BOC exceeds collection targets for six consecutive months
Manila Bulletin / July 8, 2024
The Bureau of Customs (BOC), the government’s second largest tax agency, has surpassed its revenue collection target for the first half of 2024, bringing in P456.053 billion from January to June. In a statement on Monday, July 8, the Customs Commissioner Bienvenido Y. Rubio said the amount exceeded the first semester target of P442.621 billion by 3.03 percent, or P13.433 billion.
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BOC exceeds collection targets for six consecutive months (mb.com.ph)
SC: NFA is a Government Instrumentality Exempt from Tax
Supreme Court Website / July 5, 2024
The Supreme Court has ruled that the National Food Authority (NFA) is a government instrumentality whose properties are exempt from real property tax. In a Decision penned by Associate Justice Amy C. Lazaro-Javier, the Supreme Court En Banc nullified the Notices of Delinquency issued by the City Treasurer of Tagum City, Davao Del Norte, against the NFA amounting to over PHP 2,000,000.00 in real property taxes. The NFA oversees the acquisition, maintenance, and distribution of rice buffer stock, maintaining an optimal level of national rice inventory to be sourced solely from local farmers for emergency situations and to sustain the government’s disaster relief programs.
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SC: NFA is a Government Instrumentality Exempt from Tax – Supreme Court of the Philippines (judiciary.gov.ph)
CTA: PAL entitled to P27-M tax credit certificate
Business World / Chloe Mari A. Hufana / July 9, 2024
The Court of Tax Appeals (CTA) has ordered the Bureau of Internal Revenue to refund or issue a tax credit certificate to Philippine Airlines, Inc. (PAL), amounting to over P27 million, representing the airlines’ erroneously paid excise tax on its wine and liquor importations for its international flights.
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CTA: PAL entitled to P27-M tax credit certificate – BusinessWorld Online (bworldonline.com)
CTA denies Nippon Express’ P20-M tax refund
Business World / Chloe Mari A. Hufana / July 10, 2024
The Court of Tax Appeals (CTA) has denied Nippon Express Philippines Corp.’s claim for a tax refund of over P20 million. The court ruled that to be entitled to a refund, the input VAT claimed must be substantiated by supporting documents. It added that these documents must comply with the invoicing requirements under the National Internal Revenue Code.
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CTA denies Nippon Express’ P20-M tax refund – BusinessWorld Online (bworldonline.com)
Party-list legislator to propose higher alcohol tax
Business World / Aaron Michael C. Sy / July 9, 2024
A Bill seeking to increase excise taxes on alcoholic beverages will be filed in Congress by the time it returns from recess, a party-list legislator said. “Once we get the numbers, hopefully even before the State of the Nation Address (SONA), we will actually have a bill ready,” AnaKalusugan Party-list Rep. Ray T. Reyes said at a briefing on Tuesday.
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Party-list legislator to propose higher alcohol tax – BusinessWorld Online (bworldonline.com)
The EoPT Law on Computerized Accounting Systems (CAS)
Business World / Gemmalu O. Molleno-Placido / July 8, 2024
Taxpayers are given until Dec. 31, 2024 to reconfigure their systems and implement these enhancements to comply with EoPT law. While the period given seems reasonable and subject to extension, the dilemma for taxpayers lies in the actual implementation of the changes, not to mention the disruption to their normal operations. However, transition periods are always challenging. And we all look forward to the time that we realize that these challenges we encounter right now have bought so much ease to taxpayers conducting business in the Philippines.
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The EoPT Law on Computerized Accounting Systems (CAS) – BusinessWorld Online (bworldonline.com)
Gov’t told to fight illicit alcohol trade before mulling tax hike
Business World / Kenneth Christiane L. Basilio / July 9, 2024
The Government should improve efforts against the illicit trade of alcoholic drinks before considering an increase in ‘sin taxes,’ a congressman said on Tuesday. Increasing taxes could spur an uptick in the illicit alcohol trade including smuggling, similar to what is happening to the illegal cigarette trade, Albay Rep. Jose Ma. Clemente S. Salceda said in a statement.
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Gov’t told to fight illicit alcohol trade before mulling tax hike – BusinessWorld Online (bworldonline.com)
Tax-free night pay sought
Business World / Kenneth Christiane L. Basilio / July 7, 2024
A Congressman on Sunday said his bill that seeks to exempt night shift differential pay from taxes would allow workers to have bigger take-home pay amid spiraling prices. Filed in June, House Bill (HB) No. 10534 will amend the Tax Code by excluding night shift differentials from the computation of gross taxable income, Makati Rep. Luis N. Campos, Jr. said in a statement.
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Tax-free night pay sought – BusinessWorld Online (bworldonline.com)
Recto: Revenue boost doesn’t require new tax proposals
Manila Bulletin/July 8, 2024
After six months in office, President Marcos’ chief economic manager continued to assert that there was no need for new tax proposals to enhance the government’s revenue collection. Finance Secretary Ralph G. Recto reiterated his stance at a forum with business journalists on Monday, July 8, stating that no fresh tax reform proposals are being considered.
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Recto: Revenue boost doesn’t require new tax proposals (mb.com.ph)
DOF presses tax agencies to intensify digitalization efforts
Manila Bulletin / July 12, 2024
Department of Finance Secretary Ralph G. Recto called on the government’s two main tax agencies to expedite their digitalization efforts to reach the P4.27 trillion target for this year. During a meeting on Wednesday, July 11, Recto discussed with the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) the projects that will be implemented to ease trade operations in several borders across the country.
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DOF presses tax agencies to intensify digitalization efforts (mb.com.ph)
Canada rolls out digital services tax, faces US pushback
Inquirer.net / Agence France-Presse / July 5, 2024
Ottawa, Canada — Canada’s deputy prime minister on Thursday defended a digital services tax that was quietly rolled out last week, despite pushback from business groups and threats of US reprisals. The three-percent tax on large or multinational companies such as Alphabet, Amazon and Meta that provide digital services to Canadians, was forecast in the 2024 federal budget to bring in Can$5.9 billion (US$4.2 billion) over five years.
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Canada rolls out digital services tax, faces US pushback (inquirer.net)