RMO No. 48-2024
November 15, 2024
Adoption of the New BIR Digital Transformation Roadmap for CY 2025-2028
RMC No. 123-2024
November 15, 2024
Clarification on the validity of a Certificate of Tax Exemption issued to certain corporations.
RMC No. 124-2024
November 15, 2024
Circularizing ERC Resolution No. 10, Series of 2023, titled “A Resolution Suspending the Inclusion of the National Franchise Tax of the National Grid Corporation of the Philippines in the Total Monthly Transmission Cost Billing of Distribution Utilities”
RMC No. 125-2024
November 15, 2024
Amending certain provisions of Revenue Memorandum Circular No. 095-2017, Providing Guidelines on the Tax Treatment of the Government Securities Repurchase Transactions Governed by the Global Master Repurchase Agreement
RMC No. 126-2024
November 15, 2024
Circularizing Republic Act 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”
RMC No. 127-2024
November 18, 2024
Waiver/removal of the certification fee in the processing of application for certificate of exemption for scholarship and job/livelihood programs
REVENUE DELEGATION OF AUTHORITY ORDERS
RDAO No. 21-2024
November 15, 2024
Delegates to OIC-Assistant Regional Director of RR No. 11–Iloilo City the authority to sign specific documents in the Order in view of the approved leave of absence of RR No. 11’s OIC–Regional Director
RDAO No. 22-2024
November 19, 2024
Designates Deputy Commissioner of Legal Group as Officer-in-Charge of the Bureau of Internal Revenue in view of the official travel of the Commissioner
RDAO No. 23-2024
November 19, 2024
Authorizes the Assistant Regional Director of RR No. 9B-LaQueMar to sign several documents in view of the official travel abroad of RR No. 9B’s OIC-Regional Director
RDAO No. 24-2024
November 19, 2024
Designates Head Revenue Executive Assistant of Legal Service as Officer-in-Charge in view of the approved leave of absence of Legal Service Assistant Commissioner
REPUBLIC ACT No. 12022
Official Gazette / October 2, 2024
An act defining the crimes of agricultural economic sabotage, prescribing penalties therefor, vesting jurisdiction over such offenses with the court of tax appeals, providing mechanism for its implementation and enforcement, repealing for the purpose Republic Act No. 10845 or the “Anti-Agricultural Smuggling Act of 2018”
https://www.officialgazette.gov.ph/2024/09/26/republic-act-no-12022/
REPUBLIC ACT No. 12023- VAT on Digital Services
Official Gazette / October 3, 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.
https://www.officialgazette.gov.ph/2024/10/02/republic-act-no-12023/
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
https://www.officialgazette.gov.ph/2024/11/08/republic-act-no-12066/
BIR WEEKENDER BRIEFS
Volume No. 15 Issue No 46 Week ending November 15, 2024
BIR RR 5-Caloocan City conducted a large-scale raid of a manufacturing facility producing counterfeit tobacco products in San Rafael, Bulacan and three (3) warehouses in Valenzuela last November 6.
Click the link below to read the full news from the source:
https://bir-cdn.bir.gov.ph/BIR/pdf/v15n46%20highres.pdf
DOF exchanges best tax practices with Portugal’s Ministry of Finance to further improve PH’s revenue collection system and aid national development
Department of Finance / November 15, 2024
The Department of Finance (DOF), upon the invitation of His Excellency, Ambassador Paul Raymund P. Cortes of the Philippine Embassy in Portugal, exchanged best tax practices with Portugal’s Ministry of Finance to further improve the Philippines’ tax system and aid national development. The mission allowed the Philippines to share its experiences, opportunities, and challenges brought about by increased e-commerce and digitalization. Moreover, both parties discussed tax policy, tax administration, and modernizing collection systems.
Click the link below to read the full news from the source:
https://www.dof.gov.ph/dof-exchanges-best-tax-practices-with-portugals-ministry-of-finance-to-further-improve-phs-revenue-collection-system-and-aid-national-development/
BIR waives fees for scholarships, job applicants
Business World / Aubrey Rose A. Inosante / November 18, 2024
THE Bureau of Internal Revenue (BIR) has waived the certification fee in the processing of applications for a Certificate of Exemption for scholarship and job or livelihood programs. “This Circular is hereby issued to waive/remove the P100 Certification fee requirement for the application of Certificate of Exemption by persons with low income/no income who want to avail of Scholarship and Job/Livelihood Programs,” BIR said in a circular on Monday. It said this gives the applicants financial assistance in finding careers which may help alleviate their poverty. However, the P30 loose documentary stamp tax will remain.
Click the link below to read the full news from the source:
https://www.bworldonline.com/the-nation/2024/11/18/635745/bir-waives-fees-for-scholarships-job-applicants/
BIR issues revised roadmap for digital transformation
Business World / Aubrey Rose A. Inosante / November 18, 2024
THE Bureau of Internal Revenue (BIR) said on Monday that it revised its digitalization roadmap for 2025-2028, which now consists of 27 digital transformation projects. The Digital Transformation (DX) roadmap outlines plans for integrating new technologies and addressing future challenges, the BIR said in a revenue memorandum dated Nov. 5. “As a result, the BIR recognized the need to establish a more comprehensive roadmap for its digital transformation efforts. This initiative aligns closely with the Ease of Paying Taxes (EoPT) Act,” the bureau said.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2024/11/18/635804/bir-issues-revised-roadmap-for-digital-transformation/
PEZA registers 3 new locators in Cebu, Makati, Batangas economic zones
Business World / Joelle Mae Garcia / November 18, 2024
THREE new economic zone enterprises investing a combined P98 million registered with the Philippine Economic Zone Authority (PEZA) last week, the regulator said. In a statement on Monday, PEZA said that the new registered business enterprises are involved in sustainable energy, advanced manufacturing, and information technology (IT) services. “PEZA is committed to creating an enabling environment for investments that not only drive economic growth but also prioritize sustainability and innovation,” PEZA Director General Tereso O. Panga said.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2024/11/18/635811/peza-registers-3-new-locators-in-cebu-makati-batangas-economic-zones/
City waives tax penalties
The Freeman – The Philippine Star / Irish Hazel Mascardo /November 19, 2024
CEBU, Philippines — The Cebu City Government is waiving the penalties of delinquent taxpayers to encourage constituents to pay their principal taxes on real properties within a two-year amnesty period. Mayor Raymond Alvin Garcia has issued an Executive Order (EO) granting a two-year amnesty to all delinquent taxpayers. Garcia made the announcement during a press conference on Monday, November 18, 2024, following the implementation of Republic Act No. 12001, also known as the Real Property Valuation and Assessment Reform Act (RPVARA).
Click the link below to read the full news from the source:
https://www.philstar.com/the-freeman/cebu-news/2024/11/19/2401333/city-waives-tax-penalties
A closer look at VAT on digital services ‘Let’s Talk Tax’
Business World / John Paulo D. Gracia / November 18, 2024
In October, the Philippines joined the growing list of countries like Indonesia, Malaysia, Thailand, Singapore, and Japan, in imposing a consumption tax on digital services with the signing of Republic Act (RA) No. 12023. According to the Department of Finance, the new law ensures equitable tax treatment for all digital businesses providing services in the Philippines, leveling the playing field for all digital service providers. At the same time, it aims to boost much-needed tax collections to aid national development. RA No. 12023 explicitly includes digital services consumed in the Philippines within the scope of Philippine taxation. Under its provisions, the supply of digital services, whether rendered by a resident or non-resident digital service provider (DSP), is considered among the transactions specifically subject to 12% value-added tax (VAT).
DEFINITION OF DIGITAL SERVICES – RA No. 12023 classified supply of digital services as a sale or exchange of service subject to 12% VAT. The term “digital service” is defined as any service that is supplied over the internet or other electronic network with the use of information technology and where the supply of the service is essentially automated. As provided under the law, digital services include: (1) online search engines; (2) online marketplaces or e-marketplaces; (3) cloud services; (4) online media and advertising; (5) online platforms; or (6) digital goods.
REGISTRATION REQUIREMENTS FOR DSPs – A resident DSP must register with the BIR following the usual policies and procedures under relevant tax laws and regulations applicable to Philippine taxpayers. On the other hand, a non-resident DSP or those with no physical presence in the Philippines are required to register with the BIR to remit the 12% VAT on the supply of digital services. RA No. 12023 reiterated the existing rules on VAT registration, in which a non-resident DSP will be required to register for VAT if the gross sales for the past 12 months exceed P3 million, or if there are reasonable grounds to believe that the gross sales for the next 12 months will exceed P3 million. RA No. 12023 mentioned the withholding of percentage taxes imposed, which may be required by the Secretary of Finance upon recommendation by the Commissioner of Internal Revenue; however, there are no express provisions for the imposition of a 3% percentage tax on the supply of digital services by non-resident DSPs who will not meet the VAT threshold.
REMITTANCE OF 12% VAT ON DIGITAL SERVICES – A resident VAT-registered DSP supplying digital services to consumers, regardless of whether the latter are engaged or not engaged in business, is liable for remitting the 12% VAT by following the usual policies and procedures in filing VAT returns. If the consumer is not engaged in business, the non-resident DSP is directly liable for filing a VAT return and remitting the 12% VAT on the digital services consumed in the Philippines. For this purpose, including receiving notices and record-keeping, the non-resident DSP may appoint a third-party service provider, such as a law firm or an accounting firm.
INVOICING REQUIREMENTS FOR NON-RESIDENT DSPs – A resident VAT-registered DSP must comply with existing rules on the issuance of invoices. For non-resident DSPs, there will be a new compliance requirement — the issuance of a digital sales or commercial invoice for every sale, barter, or exchange of digital services made, with the following information: (1) date of the transaction, (2) transaction reference number, (3) identification of the consumer (including Tax Identification Number); (4) brief description of the transaction; and (5) the total amount with the indication that such amount includes VAT.
Click the link below to read the full news from the source:
https://www.bworldonline.com/economy/2024/11/18/635803/a-closer-look-at-vat-on-digital-services/
Digitalization, sustainability, and diversification at the core of DOF policies to make businesses prosper, future-proof PH economy
Department of Finance / November 19, 2024
The Department of Finance (DOF) spotlighted digitalization, sustainability, and diversification as pillars at the core of its policies to make businesses prosper and future-proof the Philippine economy. For instance, the Bureau of Internal Revenue (BIR) has in place the Enhanced Internal Revenue Stamps Integrated System; a robust digital framework under the Ease of Paying Taxes (EOPT) Act; the Enterprise Architecture; the upcoming E-Invoicing system; and the Swift Corporate and Other Records Exchange (SCORE) Protocol with the Securities and Exchange Commission (SEC). For the Bureau of Customs’ (BOC) part, it is implementing the adoption of a digital and integrated system for the Pre-border Technical Verification and Cross border Electronic Invoicing of all import commodities; the Computer-Aided Risk Management Systems (CARMS) for post-clearance audits; and the enhanced Universal Risk Management System (URMS) to improve technical targeting and fraud detection. Meanwhile, the Bureau of Local Government Finance (BLGF), BIR, and the Land Registration Authority (LRA) are working on building the infrastructure needed to standardize and digitize property tax records. “Digitalization solves the many headaches for government tax collection and private sector transactions in all levels and areas of revenue operations and tax administration. We envision a Philippines where big and small companies find ease, speed, and reliability in their engagements with the government,” Undersecretary Mendoza said.
Click the link below to read the full news from the source:
https://www.dof.gov.ph/digitalization-sustainability-and-diversification-at-the-core-of-dof-policies-to-make-businesses-prosper-future-proof-ph-economy/
Wenceslao unsure of tax holiday EO
The Freeman – The Philippine Star / Irish Hazel Mascardo / November 19, 2024
CEBU, Philippines — Although he agrees that waiving tax penalties will boost the city’s revenues, Councilor Noel Wenceslao yesterday expressed skepticism over Mayor Raymond Alvin Garcia’s Executive Order (EO) that grants a holiday for taxpayers. He said this is because of the absence of an Implementing Rules and Regulations (IRR) for the order. The councilor, who heads the City Council’s committee on budget and finance, said that before the Real Property Valuation and Assessment Reform Act (RPVARA) was signed into law, Wenceslao, he already authored a proposed ordinance to revise the city’s Real Property Tax (RPT) rates. Now that the RPVARA superseded this proposed ordinance, Cebu City Mayor Raymond Alvin Garcia issued an EO that grants a two-year amnesty period, waiving the penalties and surcharge charges for RPT payers. The EO was officially announced last Monday. The two-year amnesty began on July 5, 2024, and will last until July 4, 2026.
Click the link below to read the full news from the source:
https://www.philstar.com/the-freeman/cebu-news/wenceslao-unsure-tax-holiday-eo
Interesting fact on T-bonds: Is your interest income taxable?
Top of Mind – The Philippine Star / Julpha Clarrise Policina / November 19, 2024
A foreign entity may invest in another country in the form of securities, bonds and the like. Under the Tax Code, securities refer to shares of stock in a corporation and rights to subscribe for or to receive such shares. This term also includes bonds, debentures, notes or certificates, or other evidence of indebtedness, issued by any corporation, including those issued by a government or political subdivision thereof, with interest coupons or in registered form. As these are investments, they typically earn income, such as interest income. How then is the interest income derived from these types of investments treated for tax purposes in the Philippines? Generally, interest paid to a nonresident foreign corporation (NRFC) is subject to 25-percent final withholding tax (FWT) or 20-percent FWT if the interest arises from a foreign loan. The FWT rate may even be reduced or exempted under an applicable tax treaty, subject to compliance with treaty conditions and administrative requirements to avail of treaty benefits. In a recent Court of Tax Appeals (CTA) decision, a corporation established in the Netherlands invested in Philippine treasury bonds (T-bonds) issued by the Bureau of Treasury (BTr). Upon payment of the bonds, the interest income was subject to a 20-percent FWT pursuant to Section 28(B)(5)(a) of the Tax Code. Claiming that the 20 percent FWT was erroneously withheld on the interest income it earned upon payment of the T-bonds, the NRFC filed an administrative claim for refund or issuance of a tax credit certificate. The NRFC based its claim on Section 32(B)(5) of the Tax Code in relation to Article 11(3)(a) of the Philippines-Netherlands Tax Treaty (PH-NL Tax Treaty). Under the Tax Code, income of any kind, to the extent required by any treaty obligation binding upon the government of the Philippines, is excluded from gross income. In this case, the NRFC presented the (1) BTr Statements of Taxes Withheld on the Coupon Due on the T-bond; (2) BTr Journal Entry Vouchers; (3) Certificates of Final Tax Withheld at Source (BIR Form No. 2306); and (4) Certificate from the Revenue Accounting Division of the BIR.
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https://www.philstar.com/business/2024/11/19/2401157/interesting-fact-t-bonds-your-interest-income-taxable
BIR scraps certification fee for low-income scholarship, job applicants
Manila Bulletin / Jun Ramirez / November 22, 2024
The Bureau of Internal Revenue (BIR) has removed the P100 certification fee for the Certificate of Exemption application to ease the financial burden on low-income individuals seeking scholarships and job opportunities. “Those who apply for scholarships and job/livelihood programs do not have to pay for the P100 certification fee,” BIR Commissioner Romeo D. Lumagui Jr. said in a statement on Tuesday, Nov. 19. “The BIR will do its share in alleviating the burden of our countrymen who are already in need of financial assistance, which is why they are applying for scholarships, jobs, or livelihood programs,” he added.
Click the link below to read the full news from the source:
https://mb.com.ph/2024/11/19/bir-waives-fee-for-low-income-applicants
Taxing oneself: Government taxability in PPPs ‘Taxwise or Otherwise’
Business World / Joelle Mae Garcia / November 20, 2024
To tax or not to tax government entities? While this is a common question in every Public-Private Partnership (PPP) project, this is often addressed by adopting a conservative approach. Perhaps, because of the urgency of PPP projects, the easy solution to this conundrum is to just pay whatever taxes are identified. One should realize though that this approach definitely affects the stakeholders. The taxes added to the cost of the project would make the public assets more expensive, which will eventually be paid for by the public. Hence, ways to minimize, if not eliminate, any taxes should be seriously taken into consideration. Government entities are exempted from taxation so long as they perform governmental functions. But what happens when the government partners with a private entity to undertake a PPP project for public use or service? A PPP is a contractual agreement targeted towards financing, designing, implementing and operating infrastructure facilities and services that were traditionally provided by the public sector. Recently, all the rules and regulations were codified into one law — Republic Act (RA) No. 11966, otherwise known as the Public-Private Partnership Code of the Philippines.
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https://www.bworldonline.com/economy/2024/11/20/636307/taxing-oneself-government-taxability-in-ppps/
Philippines, Cambodia set to sign double taxation deal in 2025
The Philippine Star / Keisha Ta-Asan / November 20, 2024
MANILA, Philippines — The governments of the Philippines and Cambodia are set to sign a bilateral agreement early next year aimed at preventing double taxation that would allow Filipino businesses to become more competitive abroad, the Department of Finance said. The DOF said the signing of the double taxation agreement (DTA) between the two governments is expected in February next year when Cambodian officials are scheduled to visit the Philippines. It was Cambodia that requested to move the signing of the DTA to next year from earlier announced schedule of within the year to coincide with their official state visit, DOF officials said. The DOF emphasized that DTAs support local businesses in their international ventures as their taxing rights are protected, thus jncreasing trade and investment across economic borders.
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https://www.philstar.com/business/2024/11/20/2401413/philippines-cambodia-set-sign-double-taxation-deal-2025
BIR won’t back down: Lumagui busts secret vape trade in Quezon City raid
Bilyonaryo.com / November 20, 2024
The Bureau of Internal Revenue (BIR) uncovered a clandestine system for selling untaxed vape products during a raid on a Tomas Morato store in Quezon City, marking the latest step in a nationwide crackdown on the illegal vape trade. BIR commissioner Romeo D. Lumagui Jr., who led the November 19 operation, said the shop was operating a dual system: legitimate vape products were displayed on shelves, while illicit items, lacking the mandatory revenue stamps, were hidden in a backroom. Customers seeking the contraband were provided a secret “menu” upon request.
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https://bilyonaryo.com/2024/11/20/bir-wont-back-down-lumagui-busts-secret-vape-trade-in-quezon-city-raid/business/
CTA: NLEX Corp. entitled to P3.8-M tax refund
Business World / Kenneth Christine L. Basilio / November 21, 2024
THE COURT of Tax Appeals (CTA) has granted NLEX Corp., a unit of Metro Pacific Tollways Corp. (MPTC), a P3.8-million tax refund for local business taxes erroneously paid to the City of Valenzuela for taxable years 2012 to 2019, citing the local government unit’s lack of tax jurisdiction. In a Nov. 18 decision, the tax court’s second division ruled the expressway operator is entitled to a P3.8-million refund for the regulatory and services taxes collected by Valenzuela City on signage placed along the company’s road network within its jurisdiction.
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https://www.bworldonline.com/corporate/2024/11/21/636335/cta-nlex-corp-entitled-to-p3-8-m-tax-refund/
PEZA investment approvals hit P186 billion
The Philippine Star / Louella Desiderio / November 21, 2024
MANILA, Philippines — Investments approved by the Philippine Economic Zone Authority (PEZA) reached over P186 billion from January to November, surpassing last year’s total and keeping the investment promotion agency on track to hit its P200 billion investment approvals target for the year. With the recent approval of the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, which seeks to bring improvements to the incentives system, the PEZA expects to entice more investments to the country. “The CREATE MORE Act empowers PEZA and its mandate to support FDI (foreign direct investment)-driven exports, job creation and sustainable economic growth, helping build a globally competitive and inclusive Philippines. We look forward to working with stakeholders to maximize these benefits and drive transformative impact across the nation,” Panga said.
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https://www.philstar.com/business/2024/11/21/2401689/peza-investment-approvals-hit-p186-billion
Other incentives of the Create More law
The Manila Times / Euney Marie Mata-Perez / November 21, 2024
ASIDE from amending provisions in the National Internal Revenue Code (“Tax Code”) on value-added tax zero rating and incentives, Republic Act (RA) 12066 (Create More) added incentives to registered business enterprises (RBEs). Create More empowered Investment Promotion Agencies (IPAs) to grant incentives directly to investors, provided their investment capital is P15 billion or less. IPAs will no longer operate under a delegated authority from the Fiscal Incentives and Review Board (FIRB). The FIRB, however, retains the power to approve the grant of incentives to investments higher than P15 billion, exercising regulatory and quasi-judicial functions, in addition to oversight and policy-making functions, over IPAs. The FIRB may impose sanctions such as suspension or cancellation of the IPAs’ authority to grant tax incentives.
Enhancement of the EDR incentive – Additional allowable deductions for power expenses were increased to 100 percent (from 50 percent). The reinvestment allowance of up to 50 percent of the reinvested surplus now applies to tourism industries aside from manufacturing. This includes expenses incurred in promoting the export of goods or provision of services to foreign markets.
Expansion of duty exemption – The duty exemption on importations was expanded to cover goods used for administrative purposes, in addition to capital equipment, raw materials, spare parts, or accessories, so long as the goods are “directly attributable” to the registered activity or project of the RBE.
Flexibility in availing of incentives – RBEs in the export sector, whether registered with IPAs or the FIRB, are now granted three options, namely: (a) availment of the ITH, followed by Special Corporate Income Tax (SCIT) or Enhanced Deductions Regime (EDR); (b) availment of the SCIT or EDR immediately. RBEs need not wait for the expiration of their ITH before they can appreciate the SCIT or the EDR. Accordingly, the RBE can enjoy the ITH period (which ranges from four to seven years, depending on its location and industry as specified in the Strategic Investment Priority Plan or SIPP), followed by 10 years of EDR or SCIT. Alternatively, the RBE can immediately avail of the SCIT or EDR for 14 to 17 years, depending on its location and industry specifications.
Clearer exemption on local charges and fees – Export-oriented RBEs enjoying 5-percent SCIT, which is in lieu of all taxes and fees, are now exempt from local fees and charges. Previously, enterprises enjoying the 5-percent SCIT have been imposed local charges and fees by local government units (LGUs).
Extension of period of availment – RBEs registered with the FIRB and any of the IPAs may have incentives for another five years if they have projects that employ at least 10,000 local employees and maintain such a number of employees during registration. Projects registered prior to the effectivity of Create More may qualify to register on or before December 31, 2024 and avail of the incentives, subject to certain conditions.
Speedy processing of tax incentive application – FIRB and IPAs are mandated to issue decisions on applications for tax incentives within 20 working days from receipt of all required documents. Also, the BIR is mandated to create a separate service to support end-to-end tax compliance of RBEs.
Click the link below to read the full news from the source:
https://www.manilatimes.net/2024/11/21/business/top-business/other-incentives-of-the-create-more-law/2008098
CREATE MORE and Trump tax, spending cut plan
The Philippine Star / Bienvenido Oplas Jr. / November 21, 2024
The Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE), signed into law last Nov. 11, is another good law pushed by the Department of Finance (DOF) and the economic team. A key provision is the further reduction in corporate income tax (CIT) rate to 20 percent from 25 percent for Registered Business Enterprises (RBEs) under the Enhanced Deductions Regime (EDR) on their taxable income derived from registered projects or activities during the taxable year.
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https://www.philstar.com/business/2024/11/21/2401691/create-more-and-trump-tax-spending-cut-plan
Senior citizens to get more jobs, tax breaks under House-approved bill
Philstar.com / Dominique Nicole Flores / November 21, 2024
MANILA, Philippines — The House of Representatives approved on third and final reading on Wednesday, November 20, a bill requiring the government to provide senior citizens with employment opportunities and reduced income taxes. House Bill 10985, or the Employment Opportunities for Senior Citizens and Private Entities’ Incentives Act, was passed unanimously, with no votes against or abstentions. The proposed legislation aims to amend the Expanded Senior Citizens Act of 2003 and 2010, mandating all government agencies and private entities to establish employment programs that ensure senior citizens are informed of job opportunities and provide them with access to the application process. What kind of jobs? According to the bill, senior citiziens could be offered clerical, secretarial work, consultancy, cleaning or janitorial services, event organizing, teaching, kitchen help, sales assistance, business process outsourcing and other volunteer work. The bill also raises the tax deduction from 15% to 25% of senior citizens’ gross income, covering benefits and training.
Click the link below to read the full news from the source:
https://www.philstar.com/headlines/2024/11/21/2401925/senior-citizens-get-more-jobs-tax-breaks-under-house-approved-bill
CTA junks P6-M tax refund sought by recruiter of Filipino seafarers
Manila Bulletin / Jeffrey Damcog / November 21, 2024
The Court of Tax Appeals (CTA) has dismissed the petition for P6 million tax refund sought by a firm that recruits qualified Filipino seafarers for employment by foreign shipping companies. Dismissed was the petition filed by BW Shipping Philippines, Inc. against the Bureau of Internal Revenue (BIR) in the decision written by Associate Justice Henry S. Angeles of the tax court’s third division. BMW Shipping renders manpower services to foreign shipping companies. Its services include the screening, recruitment, and deployment of qualified Filipino seafarers. The CTA ruled that BW Shipping “failed to file its application for VAT (value-added tax) refund with the correct office of the BIR and, thereby, failed to timely file its administrative claim for refund.”
Click the link below to read the full news from the source:
https://mb.com.ph/2024/11/21/cta-junks-p6-m-tax-refund-sought-by-recruiter-of-filipino-seafarers
CTA acquits 5 cigarette firm execs of ‘violations’ of Tax Code
Manila Bulletin / Jeffrey Damcog / November 22, 2024
The Court of Tax Appeals (CTA) has acquitted five executives of a cigarette manufacturing company which was raided in 2020 in Angeles City in Pampanga where P14.08 million worth of tobacco products were seized. They were charged with possession of locally manufactured tobacco products subject to excise tax but were found allegedly unpaid in violation of Section 263, in relation to Sections 253(d) and 256 of the National Internal Revenue Code. The decision promulgated last Nov. 20 was written by Associate Justice Lenee S. Cui-David of the CTA’s first division. The charges arose from the Feb. 5, 2020 raid by the Bureau of Internal Revenue’s (BIR) Strike Team at the warehouse of GB Bem inside the Philippine Economic Zone Authority (PEZA) in Angeles City.
Click the link below to read the full news from the source:
https://mb.com.ph/2024/11/22/cta-acquits-5-cigarette-firm-execs-of-violations-of-tax-code#google_vignette