The Bureau of Internal Revenue (BIR) has recently issued Revenue Regulations (RR) No. 21-2021 which amended certain provisions including RR No. 13-2018, under page 15 of 20: Illustration 8: A manufacturer purchased capital goods on different occasions as follows: Month of Purchase Amount (Php) 12% Input Tax Useful Life No. of Monthly Amortization Last Month…
On November 19, 2021, the Bureau of Internal Revenue released the Revenue Memorandum Circular No. 117- 2021. This Circular was issued to clarify the provisions of Revenue Regulations (RR) No. 16-2021 that amended the provisions of RR No. 2-2015. This previously prescribed the submission of soft copies, instead of hard copies of BIR Form No.…
The Bureau of Internal Revenue (BIR) has issued a memorandum on the included forms which are available offline with the release of package version 7.9.2. The forms that will be included in the new Offline eBIR Package are 2018 versions of the following: 2552 Percentage tax return for transactions involving shares of stock listed and…
The Bureau of Internal Revenue (BIR) is an affiliated agency of the Department of Finance and is in charge of collecting national taxes in the country. The BIR is required by law to assess and collect all national internal revenue taxes, fees, and charges, as well as to execute any forfeitures, penalties, and fines associated…
Let us now dive into the untapped world of digital taxes! In today’s world, technology has played a significant part with how we live our lives. With just a tap on our phones, we will be able to access a wide range of activities which shows how technology has opened a new marketplace that has…
On September 1, 2021, the Bureau of Internal Revenue released the Revenue Memorandum Circular No. 99-2021. This Circular was issued to clarify the issues and concerns received by the BIR from the previous Revenue Memorandum Circular No. 81-2021 released in relation to the VAT Exempt goods for medical/COVID-19 purposes published by the Food and Drug…
On August 16, 2021, the Bureau of Internal Revenue released the Revenue Memorandum Circular No. 91-2021. The BIR released this RMC with the reports that called their attention regarding certain social media influencers who are not paying their taxes despite their massive earnings. The issuance of this Circular will serve as a reminder of their…
In consideration of the upcoming implementation of Enhanced Community Quarantine (ECQ) and Modified Enhanced Community Quarantine (MECQ) in the National Capital Region (NCR) and several provinces in the Philippines due to the incessantly rising cases of Delta variant, the Bureau of Internal Revenue (BIR) has released a memorandum notifying concerned taxpayers about its decision to…
On April 30, 2021, the Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular No. 64-2021. The BIR released this RMC to promote tax compliance among Filipino taxpayers, making sure that they will be able to conveniently e-File and e-Pay with their chosen Tax Software Provider (TSP). As the very first TSP to be certified…
On April 30, 2021, the Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular No. 67-2021. This RMC aims to clarify some issues in relation to the changes to the Percentage Tax Rate under the “Corporate Recovery and Tax Incentives for Enterprises Act” (C.R.E.A.T.E.). JuanTax has already implemented the changes with C.R.E.A.T.E. Law in mind.…
