Bureau of Internal Revenue Issuances
REVENUE MEMORANDUM CIRCULARS
RMC No. 69-2025
July 7, 2025
Lost One (1) Pad of Unused/Unissued BIR Form No. 0535 – Taxpayer Information Sheet
RMC No. 70-2025
July 9, 2025
Lost One (1) Pad of Unused/Unissued BIR Form No. 1966 – Electronic Letter of Authority
REVENUE MEMORANDUM ORDERS
RMO No. 34-2025
July 7, 2025
Guidelines and Procedures Regarding Requests for Issuance of a Certified True Copy of the Commissioner of Internal Revenue’s Decision on an Administrative Appeal Against a Final Decision on Disputed Assessment and on a Denial of the Claims for Refund of Value-Added Tax and Excise Tax under Sections 112 (C) and 135-A of the National Internal Revenue Code of 1997, as amended by Republic Act No. 12066, under the Jurisdiction of the Appellate Division
RMO No. 35-2025
July 11, 2025
Modification of Alphanumeric Tax Code (ATC) of Selected Revenue Source under Republic Act (R.A.) No. 12214 (Capital Markets Efficiency Promotion Act)
REVENUE DELEGATION AUTHORITY ORDERS
RDAO No. 41-2025
July 9, 2025
Designates the Head Revenue Executive Assistant of Client Support Service as Officer-in-Charge of the Client Support Service in view of the official travel of Client Support Service’s OIC-Assistant Commissioner
RDAO No. 42-2025
July 9, 2025
Designates the Assistant Commissioner of the Enforcement and Advocacy Service as Officer-in-Charge of the Legal Group in view of the official travel of Legal Group’s OIC-Deputy Commissioner
TAX ADVISORY
Taxpayers are advised to manually file BIR Form No. 2552 and pay the taxes due thereon at any Authorized Agent Bank due to the unavailability of the revised tax rate in BIR Form No. 2552 within the eBIRForms and eFPS and the sale or exchange of shares of stock and other securities of a domestic corporation through a Foreign Stock Exchange which is not yet included in BIR Form No. 2552.
Click the link below to read the full news from the source:
https://bir-cdn.bir.gov.ph/BIR/pdf/Tax Advisory_2552.pdf
TAX LAW
REPUBLIC ACT No. 12214 – Capital Markets Efficiency Promotion Act (CMEPA)
BIR Website / signed May 29, 2025
AN ACT AMENDING SECTIONS 22, 24, 25, 27, 28, 32, 34, 38, 39, 42, 51, 52, 56, 57, 127, 149, 174, 176, 179, 190, 199, AND 258 OF REPUBLIC ACT NO. 8424, ОТHERWISE KNOWN AS 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
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. 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. 11976 – Ease of Paying Taxes (EOPT)
Official Gazette / January 5, 2024
AN ACT INTRODUCING ADMINISTRATIVE TAX REFORMS, AMENDING SECTIONS 21, 22, 51, 56, 57, 58, 76, 77, 81, 90, 91, 103, 106, 108, 109, 110, 112, 113, 114, 115, 116, 117, 118, 119, 120, 128, 200, 204, 229, 235, 236, 237, 238, 241, 242, 243, 245, 248, AND 269; AND REPEALING SECTION 34(K) OF THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED, AND FOR OTHER PURPOSES
TAX AND BUSINESS RELATED NEWS
BIR WEEKENDER BRIEFS
Volume No. 16 Issue No 28 Week ending July 11, 2025 – (BIR Website)
A number of tax cases were filed by regional and district offices against erring taxpayers and corporations under BIR’s RATE program between July 2 to July 8. And The Revenue Regions and Revenue District Offices are conducting Tax Information Drives through seminars/webinars, radio guestings, and tax campaigns to educate and inform taxpayers on different tax-related matters and updates. Photos below show the briefings conducted from July 2 to 8 on the following topics: *Authorized Agent BankCompliance *BIR eServices *BIR RegistrationUpdates *CREATE More Act *Ease of Paying Taxes (EOPT) *eBIR Forms (Filing of Tax Returns) *Electronic Filing and Payment System (eFPS) *General TaxCompliance *Latest Revenue Issuances *Online Registration andUpdate System (ORUS) *Tax Updates *TIN Issuance VAT on Digital Services *Withholding Tax.
Click the link below to read the full news from the source:
https://bir-cdn.bir.gov.ph/BIR/pdf/v16n28.pdf
BIR, FDA urged to further expand VAT-free medicines list
Philippine News Agency / Wilnard Bacelonia/ July 4, 2025 – MANILA
Senator Sherwin Gatchalian on Friday called on the Bureau of Internal Revenue (BIR) and the Food and Drug Administration (FDA) to further expand the list of value added tax (VAT)-exempt medicines, saying this would ease the financial burden on patients. He made the appeal following the inclusion of 19 more medicines under the VAT exemption list, which he welcomed as a major step forward in making essential treatments more affordable.
Click the link below to read the full news from the source:
https://www.pna.gov.ph/articles/1253598
CTA denies P3.9-M tax refund sought by MD Isalon Organic Banana Agri-Ventures
Manila Bulletin / Czarina Nicole Ong Ki / July 5, 2025
The Court of Tax Appeals (CTA) has denied the P3.9 million tax refund sought by MD Isalon Organic Banana Agri-Ventures, Inc. for its alleged excess and unutilized value-added tax (VAT) for 2019. MD Isalon, a firm based in Compostela Valley in Mindanao, originally filed with the Bureau of Internal Revenue (BIR) an application for refund in the amount of P4,408,990.25. The BIR denied the refund on Aug. 4, 2021. The BIR explained that MD Isalon was issued a Permit to Use (PTU) Computerized Accounting System (CAS) on Oct. 10, 2018. However, MD Isalon was found to have used commercial invoices instead of charge invoices for 2019 even if the CAS permit approved the issuance of charge invoices only. It said a taxpayer has to apply for a new permit to use CAS in case of any system enhancement that will result in change in systems release and/or version number. In case a taxpayer is found using an enhanced system without the approval of the BIR, the permit originally issued will be deemed automatically revoked from the time the enhanced system is adopted, it also said. It added that MD Isalon was not able to show documents to prove whether an enhancement or modification on the said CAS Permit was requested or approved.
Click the link below to read the full news from the source:
https://mb.com.ph/2025/07/05/cta-denies-p39-m-tax-refund-sought-by-md-isalon-organic-banana-agri-ventures
Strengthening tax compliance in light of recent reforms ‘Suits The C-Suite’
Business World / Micheal A. Madlangbayan / July 6, 2025
IN BRIEF: • The recent acceleration of reforms in the Philippine tax landscape significantly impacts business operations and compliance requirements, necessitating a proactive approach from organizations to navigate these changes effectively. • In an evolving regulatory environment, businesses must go beyond mere compliance with existing laws by proactively anticipating future changes and developing strategies to navigate the complexities of new tax regulations. • Recognizing tax compliance as a vital element of operations enhances overall business performance and efficiency, fulfilling legal requirements while driving success. As businesspeople browse through their e-mail or scroll through social media, they may have noticed a flurry of updates regarding new laws and regulations impacting businesses. The pace of change in the Philippine tax landscape has accelerated, with several significant reforms introduced over the past two years. These changes, including the Ease of Paying Taxes Act, VAT on Digital Services Law, Real Property Valuation and Assessment Reform Act, CREATE MORE Act, and Capital Markets Efficiency Promotion Act, have far-reaching implications for how businesses operate and comply with tax obligations.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2025/07/06/683484/strengthening-tax-compliance-in-light-of-recent-reforms/
BIR: P796-M tax evasion raps filed vs. illegal cigarette businesses
Philippine News Agenct / Benjamin Pulta / July 7, 2025 – MANILA
The Bureau of Internal Revenue (BIR) on Monday reported the filing of tax evasion charges before the Court of Tax Appeals against large-scale illicit cigarette businesses for failure to pay PHP793 million in taxes. In a news release, BIR Commissioner Romeo Lumagui Jr. said the cases were filed before the tax court on July 1 after the Department of Justice (DOJ) ruled in favor of the complaints filed by the BIR against illegal cigarette operations in Valenzuela City and San Rafael, Bulacan. The BIR charged the lessee of a warehouse located in Barangay Ugong, Valenzuela City for violation of Section 263 of the National Internal Revenue Code of 1997 (Unlawful possession of excisable articles without tax payment) after 600 master cases of untaxed cigarettes were discovered in the facility in early November last year during joint simultaneous operations.
Click the link below to read the full news from the source:
https://www.pna.gov.ph/articles/1253701
Palace: Marcos open to tax, tighter rules on online gambling
Philippine News Agency / Darryl John Esguerra / July 7, 2025 – MANILA
President Ferdinand R. Marcos Jr. is supportive of proposals to regulate and possibly tax online gaming platforms, especially if aimed at protecting public welfare and addressing gambling addiction, Malacañang said Monday. Palace Press Officer Claire Castro said Marcos acknowledges the dangers of unregulated online gambling and will not oppose well-studied measures and policies to control the sector.
Click the link below to read the full news from the source:
https://www.pna.gov.ph/articles/1253710
Bill eyes 10% online gambling tax to fund rehab, ban e-wallet links
Philstar.com / Dominique Nicole Flores / July 7, 2025 – MANILA, Philippines
As lawmakers move to rein in online gambling, one House bill takes it a step further by proposing to slap a 10% tax on operators to fund addiction treatment and recovery programs. House Bill 1351, also known as the Kontra e-Sugal Act of 2025, was filed on July 7 to push for a whole-of-government response to the growing online gambling industry. With reports of families strained and finances crumbling under the weight of online gambling, lawmakers from both the House and Senate have responded by filing bills to limit its accessibility. While earlier proposals targeted e-wallet restrictions and minimum bet limits, House Bill 1351 takes a different route by introducing an online gaming tax to fund public health programs—much like existing sin taxes on tobacco and alcohol. The measure seeks to establish a Special Gambling Harm Reduction Fund, financed by a 10% tax on online gambling operators’ gross revenues, to be collected by the Bureau of Internal Revenue (BIR). Online gaming operators who fail to pay the tax may face license suspension, revocation, or penalties such as fines and surcharges.
Click the link below to read the full news from the source:
https://www.philstar.com/headlines/2025/07/07/2456212/bill-eyes-10-online-gambling-tax-fund-rehab-ban-e-wallet-links
CMEPA Law to bolster PH financial market investments: economist
Philippine News Agency / Joann Villanueva / July 7, 2025 – MANILA
Foreign investments in the Philippines’ financial markets are seen to remain robust following the signing into law of Republic Act (RA) 12214 or the Capital Market Efficiency Promotion Act (CMEPA) last May 29. Among others, RA 12214 reduces stock transaction tax from 0.6 percent to 0.1 percent, and the documentary stamp tax (DST) on the original issue of shares of stock from 1 percent to 0.75 percent. It also imposes a uniform 0.75 percent DST on bonds, debentures, and certificates of stock or indebtedness issued in foreign countries, regardless of jurisdiction, and exempts from DST the original issuance, redemption, or transfer of mutual fund shares, as well as certificates or proof of participation in mutual funds or investment trust funds.
Click the link below to read the full news from the source:
https://www.pna.gov.ph/articles/1253690
CA rules in favor of BIR in cigarette tax evasion case
Business World / Aubrey Rose A. Inosante / July 7, 2025
THE Bureau of Internal Revenue (BIR) said on Monday that it obtained a favorable ruling from the Court of Appeals (CA) in a P796.95-million tax evasion case against a large-scale illicit cigarette operation. In a statement, the BIR said the estimated tax deficiency of P796.95 million was generated following seizures from two facilities in San Rafael, Bulacan and Valenzuela City. The BIR said the Court of Appeals took on the case after a favorable ruling by the Department of Justice.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2025/07/07/683745/ca-rules-in-favor-of-bir-in-cigarette-tax-evasion-case/
From tax thrillers to compliance cliffhangers ‘Let’s Talk Tax’
Business World / Neymhel Marie I. Obedencio /July 7, 2025
If tax reform had a streaming platform, the BIR’s 2025 lineup would definitely be trending! With full-fledged issuances serving as teasers, cliffhangers on the horizon and additional “episodes” hinted at in the pipeline, it has been a season worth following — especially for businesses and taxpayers trying to stay ahead of the plot.
IMPLEMENTATION OF THE CREATE MORE ACT
This year marked the full implementation of the CREATE MORE Act, with the following key provisions being highlighted: • Adjustment of the corporate income tax rates for domestic and resident foreign corporations classified as registered business enterprises (RBE) under the enhanced deduction regime.
IMPLEMENTATION OF VAT ON DIGITAL SERVICES
With the full implementation of the VAT on digital services effective June 2, foreign digital services providers (DSPs) now carry extra compliance and reporting duties even without being physically present in the Philippines. They do not need a local representative but may appoint one for administrative purposes, in which the registration has been extended to July 1, pursuant to RMC 58-2025
CMEPA
The Capital Markets Efficiency Promotions Act (CMEPA), officially known as Republic Act No. 12214, took effect on July 1. This transformative legislation aims to enhance the competitiveness of the capital markets by simplifying the taxation of passive income and reinforcing fiscal stability with the following key takeaways:
• Stock Transaction Tax (STT) reduced from 0.6% to 0.1% to encourage more trading activity. • Standardized Final Withholding Tax (FWT) at a flat rate of 20% tax on all interest income from peso and foreign currency bank deposits, trust funds and similar instruments, eliminating multiple rates and exemptions. • Harmonized Capital Gains Tax at a flat rate of 15% tax on capital gains from the sale of shares in foreign corporations not traded on the local exchange. • Reduced Documentary Stamp Tax (DST) rates from 1% to 0.75% on the original issuance of shares. • Enhanced PERA incentives for employers matching PERA contributions of employees can claim an additional 50% deduction.
E-INVOICING AND DIGITALIZATION
The BIR has introduced significant changes with the implementation of e-invoicing and e-sales reporting systems for required taxpayers, with additional deductions provided to offset the cost of setting up the electronic systems pursuant to RR 11-2025.
IMPROVING AUDIT EFFICIENCY AND RISK PROFILING
Pursuant to audit reforms brought by RMO 7-2025’s revised audit selection thresholds, more businesses may fall under scrutiny depending on their gross sales.
ESTATE TAX AMNESTY
The estate tax amnesty applies to estates of decedents who died on or before May 31, 2022, with unpaid estate taxes as of that date. The amnesty aims to simplify the process of settling estate taxes, making it easier for heirs and beneficiaries to comply. Pursuant to RA 11569 as implemented by RR 10-2023, the availment of the estate tax amnesty was extended until June 14, allowing taxpayers to settle and pay their estate tax obligations without incurring penalties.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2025/07/07/683822/from-tax-thrillers-to-compliance-cliffhangers/
Report non-compliant pharmacies on VAT-exempt meds – BIR
Philippine News Agenct / July 7, 2025 – MANILA
The Bureau of Internal Revenue (BIR) urged the public to report pharmacies that continue to impose value-added tax (VAT) on medicines that are already exempted, following the issuance of Revenue Memorandum Circulars (RMC) Nos. 59-2025 and 62-2025, which expanded the list of VAT-exempt medicines. In a news release on Tuesday, BIR Commissioner Romeo Lumagui Jr. said the agency has been receiving numerous reports from consumers that some pharmacies are still imposing VAT on exempted medicines. He pointed out that based on the two new issuances, 19 drugs used to treat cancer, diabetes, hypertension, high cholesterol, kidney disease, tuberculosis, and mental illness are added to the list of VAT-exempt medicines. “These are maintenance and life-saving medicines that are now exempted from VAT. This is a concrete step to ease the financial burden of patients,” Lumagui said.
The newly VAT-exempt medicines under RMC Nos. 59-2025 and 62-2025 are:
Medicines for Cancer:
– Bortezomib
– Lenvatinib (as mesylate)
– Lenalidomide
– Paclitaxel
– Tegafur + Gimeracil + Oteracil Potassium
Medicines for Diabetes:
– Saxagliptin (as hydrochloride) + Dapagliflozin (as propanediol monohydrate)
– Metformin Hydrochloride + Teneligliptin (as hydrobromide hydrate)
Medicines for Hypertension:
– Losartan potassium + Rosuvastatin (as calcium) + Amlodipine (as camsilate)
– Metoprolol tartrate + Ivabradine (as hydrochloride)
Medicine for High Cholesterol:
– Atorvastatin (as calcium) + Fenofibrate
Medicine for Kidney Disease:
– Peritoneal Dialysis Solution with 2.5 percent Dextrose
Medicine for Tuberculosis:
– Rifampicin + Isoniazid + Pyrazinamide
Medicine for Mental Illness:
– Lamotrigine (including chewable/dispersible, orally disintegrating, and regular tablet forms)
Lumagui assured the public that the BIR is closely monitoring pharmaceutical companies and retailers, in coordination with the FDA, DOH (Department of Health), and DTI to ensure the benefits of the exemption are passed on to consumers. He also assured that the BIR continues to coordinate with the FDA and the DOH to further expand the list of VAT-exempt medicines.
Click the link below to read the full news from the source:
https://www.pna.gov.ph/articles/1253861
No time to waste: Francis Lim vows ‘urgent, transparent’ capital market reforms
Bilyonaryo.com / July 7, 2025
The Securities and Exchange Commission (SEC) has pledged swift and transparent implementation of reforms to support President Ferdinand Marcos Jr.’s goal of building an inclusive and efficient capital market in the Philippines. “The SEC stands ready to deliver on this mandate with urgency, integrity, and accountability,” he added. The commitment follows the recent signing of Republic Act No. 12214, or the Capital Markets Efficiency Promotion Act (CMEPA), which aims to reduce red tape, lower transaction costs, and promote financial inclusion.
Click the link below to read the full news from the source:
https://bilyonaryo.com/2025/07/07/no-time-to-waste-francis-lim-vows-urgent-transparent-capital-market-reforms/business/
Ralph Recto, Francis Lim to fast-track capital market reforms, ease doing business
Bilyonaryo.com / July 7, 2025
Finance Secretary Ralph G. Recto and newly appointed Securities and Exchange Commission (SEC) chairman Francis Lim are joining forces to jumpstart a wide-ranging reform agenda aimed at making it easier to do business in the Philippines and strengthening investor confidence in the country’s capital markets. One of their top priorities is the implementation of the Capital Markets Efficiency Promotion Act (CMEPA), a landmark law designed to widen investor participation and make market transactions smoother and more efficient. Lim, a seasoned corporate lawyer and capital markets expert, is also focused on enhancing regulation in emerging sectors, such as digital finance. The SEC is tightening its oversight of crypto asset service providers (CASPs) to safeguard consumers, ensure compliance, and promote responsible innovation.
Click the link below to read the full news from the source:
https://bilyonaryo.com/2025/07/01/ralph-recto-francis-lim-to-fast-track-capital-market-reforms-ease-doing-business/business/
Starting July 1, pickups no longer exempt from excise tax
Philippine Daily Inquirer / Ronnel W. Domingo / July 8, 2025 – MANILA, Philippines
The Bureau of Internal Revenue (BIR) reminded automobile buyers that pickups are again subject to excise tax. This started on July 1, when the Capital Market Efficiency Promotion Act (CMEPA) went into force. Section 18 of CMEPA amended the provision of the National Internal Revenue Code that exempts pickups, along with purely electric vehicles, from the tax that reaches up to 50 percent, depending on the net selling price of the unit.
Click the link below to read the full news from the source:
https://business.inquirer.net/534538/starting-july-1-pickups-no-longer-exempt-from-excise-tax
The Ease of Paying Taxes Act: A step forward for Filipino taxpayers
The Philippine Star / Aira Sebastian / July 8, 2025
In the Philippines, paying taxes has never been simple. For years, taxpayers have had to endure long queues, confusing regulations, and harsh penalties – even for minor mistakes. But with the passage of Republic Act 11976, also known as the Ease of Paying Taxes (EOPT) Act, the government is taking a major step toward simplifying the country’s tax system. Signed into law on Jan. 5, 2024, the EOPT Act intends to streamline and modernize the tax payment process. This includes relieving taxpayers of a significant burden by eliminating the 25-percent penalty for submitting taxes at the wrong venue. Taxpayers can now file and pay taxes, either electronically or manually, at any authorized venue without worrying about penalties. Another significant improvement is the more reasonable treatment of business expenses. Before the EOPT Act, if a taxpayer failed to withhold taxes on a certain payment, the entire expense could be disallowed – a rule that caused undue stress because of how burdensome it was financially, especially for small businesses. Today, under the new law and additional clarification provided by Revenue Memorandum Circular (RMC) 60-2024, those expenses can now be deducted as long as they are properly documented and are deemed necessary for business. The law also introduces clearer classifications for taxpayers, grouping them into micro, small, medium and large categories based on their gross sales or receipts. This change ensures that smaller businesses are no longer burdened with the same amount of paperwork and compliance requirements imposed on large corporations. By aligning obligations with business capacity, the law promotes a more equitable and manageable tax system. New rules on invoicing have also been introduced. Businesses that are registered under VAT are required to provide VAT invoices for each sale, whereas non-VAT sellers are required to provide official receipts for transactions totaling P500 or more, as per Revenue Regulations (RR) 7-2024 and 11-2024. This promotes better recordkeeping and supports a fairer tax system.
Click the link below to read the full news from the source:
https://www.philstar.com/business/2025/07/08/2456240/ease-paying-taxes-act-step-forward-filipino-taxpayers
Input VAT refund developments under CREATE MORE “Taxwise Or Otherwise”
Business World / Rowelle Sheena Juarez-Ayson / July 9, 2025
The CREATE MORE Act ushered in changes to certain documentary requirements for VAT refund claims. Beyond compliance lies a jungle of possibilities and challenges — where does your business stand? Dive into this article to uncover recent updates and explore the intricacies of securing VAT refunds amidst a sea of change. CREATE MORE has generally adopted the same standards from the old VAT refund laws, including the following: 1. the grant or decision should be made within 90 days from the date of the submission of the application, and 2. the application will be subject to a risk assessment. However, it also introduced a new recourse for denied VAT refund claims — request for reconsideration prior to proceeding to judicial appeal, i.e., filing with the Court of Tax Appeals. With respect to supporting documents, CREATE MORE also codified that certified true copies (CTC) of invoices, receipts, and other documents required under the rules can now be submitted to support the taxpayer’s claim — a welcome development as this gives claimants more flexibility, as opposed to the previous rules which required the submission of original documents. Moreover, VAT zero-rating will apply to the sale of goods and services to an export-oriented enterprise (EOE) whose export sales are at least 70% of the total annual production of the preceding year. As such, Revenue Memorandum Circular (RMC) 37-2025 was issued to clarify the amendments. It includes new checklists for claiming a VAT refund pursuant to Section 112(a) of the Tax Code for: (1) claims covering the period prior to April 1, 2025; and (2) those covering taxable period starting April 1, 2025.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2025/07/09/684330/input-vat-refund-developments-under-create-more/
CTA denies P11.7-M tax refund sought by Norconsult Management Services
Manila Bulletin / Czarina Nicole Ong Ki / July 10, 2025
The Court of Tax Appeals (CTA) has denied the P11.7 million tax refund for 2019 sought by Norconsult Management Services Phils., Inc. from the Bureau of Internal Revenue (BIR). In a decision handed down last June 30, the CTA said that since Norconsult’s carry-over option is irrevocable, the firm’s only recourse is to apply the excess and unutilized creditable withholding taxes (CWTs) of P11,717,431.36 to the succeeding taxable years until fully utilized. The BIR did not act on the administrative claim filed by Norconsult for a tax refund of the firm’s CWTs for the year 2019. As a result, Norconsult filed a petition for review before the CTA on April 12, 2022 and pointed out its claim was within the two-year prescriptive period. It also told the CTA that the fact of withholding is proved by CWT certificates issued by the withholding agents, and it was shown through its annual income tax return (AITR) that the income payments upon which the taxes were withheld were included and declared as part of its gross income.
Click the link below to read the full news from the source:
https://mb.com.ph/2025/07/10/cta-denies-p117-m-tax-refund-sought-by-norconsult-management-services
US tariffs to bring ‘significant challenges’ to Philippine exports—PCCI
Manila Bulletin / Dexter Barro II / July 10, 2025
The Philippine Chamber of Commerce and Industry (PCCI) stated that the government must intensify its efforts to expand the country’s export markets to maintain the competitiveness of local industries amid the increase in tariffs on Philippine goods by the United States (US). In a statement, the PCCI said it respects the sovereign right of the US to implement a 20 percent tariff rate on Philippine goods entering the trade giant. The Department of Trade and Industry (DTI) said it is committed to expanding the country’s trade partnerships with other countries to create more market opportunities for local industries. This was said in response to the US government’s decision to raise the tariff rate against Philippine goods to 20 percent from an initial 17 percent. Despite the increase in taxes, the country remained the second-lowest tariff rate among member states of the Association of Southeast Asian Nations (ASEAN), but now joined by Vietnam, which earlier secured a deal to cut its tariff from a steep 46 percent.
Click the link below to read the full news from the source:
https://mb.com.ph/2025/07/10/us-tariffs-to-bring-significant-challenges-to-philippine-exportspcci
Philippines braces for fallout from higher Trump tariffs
Manila Bulletin / Dexter Barro II And Derco Rosal / July 10, 2025
Department of Trade and Industry (DTI) Secretary Cristina Roque said the government remains “optimistic” about securing a beneficial trade deal with the United States (US), even as President Donald Trump hiked tariffs on Philippine goods to 20 percent. “Of course we’re always optimistic, and we always look at the brighter side every time we go,” Roque told a press briefing on Thursday, July 10. The upcoming dialogue will be the second face-to-face meeting of Philippine and US officials on tariffs. Roque said the country signed a non-disclosure agreement (NDA) barring them from talking about details, but she previously assured that the meeting “went very well” and that the country’s assertions “were well received.” In a letter addressed to President Ferdinand “Bongbong” Marcos Jr. dated July 9, Trump announced a 20-percent tariff rate on goods imported from the Philippines beginning Aug. 1. “We will charge the Philippines a Tariff of only 20% on any and all Philippine products sent into the United States, separate from all Sectoral Tariffs,” Trump said in the letter, describing the trade relationship between the two countries as “far from reciprocal.” “Please understand that the 20% number is far less than what is needed to eliminate the Trade Deficit disparity we have with your Country,” he added. The new rate is higher than the initial 17‑percent tariff that Trump announced in April as part of the so‑called reciprocal tariffs against the majority of the US’ trading partners. He later suspended the implementation of these higher tariffs—barring the 10‑percent baseline—until July 9 to allow for negotiations. This has since been postponed to Aug. 1. Trump said these tariffs are necessary to “correct” the trade deficits against the US, which he claims are a “major threat” to the American economy and national security. The DTI said the government remains committed to negotiating with the Trump administration, recognizing the US as a longtime strategic economic partner in the region. Nonetheless, the agency still sees a positive outcome for the country as it faces the second-lowest tariff rate among member states of the Association of Southeast Asian Nations (ASEAN). As of writing, Singapore stands as the lowest with 10 percent. On July 9 (US time), Trump also sent tariff letters to Algeria, Brunei, Iraq, Libya, Moldova, and Sri Lanka. Brunei, a fellow ASEAN member, will now face a 25‑percent tariff starting Aug. 1, down from the 44 percent announced in April. Early this week, several ASEAN members were also slapped with a fresh batch of tariffs, namely Myanmar (40 percent), Laos (40 percent), Thailand (36 percent), Cambodia (36 percent), Indonesia (32 percent), and Malaysia (25 percent). Among the 10‑member bloc, only Vietnam has secured a deal with the US, lowering its tariff rate to just 20 percent from a steep 46 percent. Under the agreement, American goods can enter Vietnam tariff-free, while transshipped goods will be subject to a 40‑percent tariff. The DTI said the government is committed to advancing economic reforms to sustain the country’s competitive and investor-friendly business environment, alongside broadening trade partnerships with other countries to create more market opportunities.
Click the link below to read the full news from the source:
https://mb.com.ph/2025/07/10/philippines-braces-for-fallout-from-higher-trump-tariffs
DTI unveils digital badge for legitimate online businesses
Manila Bulletin / Dexter Barro II / July 10, 2025
The Department of Trade and Industry (DTI) has launched a digital verification system among e-commerce merchants aimed at ensuring the safety and reliability of online transactions. The DTI on Monday, July 7, said it has now opened the application process for the E-Commerce Philippine Trustmark for sellers through its digital portal. Aligned with Republic Act (RA) No. 11967 or the Internet Transactions Act, the trustmark is a digital badge issued to online businesses that comply with fair e-commerce practices. As indicated under Department Administrative Order No. 25-07, the DTI clarified the trustmark is not a license or a permit to engage in e-commerce, not does it exempt the holder from compliance with other applicable laws or regulations. While the trustmark is voluntary, online merchants are encouraged to apply to build consumer trust, helping create a safe and more reliable digital trade. To apply for the trustmark, interested applicants shall submit an application form with a sworn undertaking to comply with the applicable laws, rules, and regulations. Additionally, they must possess a business name registration with the DTI, a certificate of registration with the Bureau of Internal Revenue, list of digital platforms or websites used for online sales, a valid government-issued ID, and a a step-by-step guide on the applicant’s internal redress mechanism. Applications will be submitted online through the E-Commerce Philippine Trustmark’s online portal, and will have a registration fee of ₱1,000. The trustmark shall be displayed prominently on the seller’s websites, profiles, and product pages.
Click the link below to read the full news from the source:
https://mb.com.ph/2025/07/07/dti-unveils-digital-badge-for-legitimate-online-businesses
Balisacan proposes e-wallet tax on online gambling
Manila Bulletin / Derco Rosal / July 10, 2025
Amid rising concerns over online gambling, one of the country’s top economic officials proposed leveraging e-wallets as a tool for taxation. As President Marcos’ economic managers have yet to finalize their collective stance, Department of Economy, Planning, and Development (DEPDev) Secretary Arsenio M. Balisacan proposed exploring digital transactions in online gambling as a possible new revenue source for the government.
Click the link below to read the full news from the source:
https://mb.com.ph/2025/07/10/balisacan-proposes-e-wallet-tax-on-online-gambling
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