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RMC No. 2-2013: Clarification on Deductibility of Expenses Relating to Purchase of Vehicles

Advertisements On December 28, 2012, the Bureau of Internal Revenue issued Revenue Memorandum Circular No. 2-2013 clarifying ...
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Revenue Regulations (RR) No. 2-2013: Transfer Pricing Guidelines

Last January 23, 2013, the Bureau of Internal Revenue (BIR) issued Revenue Regulations No. 2-2013 providing guidelines to transfer ...
10

Deductibility of Interest Expense/Allowable Interest Expense

It’s tax season and business and individuals with taxable year ending December 31 are starting to work on financial statements ...
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Philippines ‘sin tax’ introduced (revised tax rates on cigarettes and alcohols)

On December 26, 2012, the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) 17-2012 Prescribing the Implementing Guidelines ...
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RR No. 12-2012 Deductibility of Depreciation and Other Related Expenses of Vehicles

Revenue Regulations (RR) No. 12-2012, dated October 12, 2012, prescribes the rules on the deductibility of depreciation expenses as ...
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RR No. 14-2012 Proper Tax Treatment of Interest Income Earnings on Financial Instruments and Other Related Transactions

In doing business, individuals and companies usually earn interest income.  These interests income may be derived from investments ...
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Electronic BIR Forms (eBIRForms) are Now Available

Not so long ago after the release of the Bureau of Internal Revenue (BIR) Interactive Forms, now, the BIR released the Electronic ...
78

New Quarterly Income Tax Returns (1702Q and 1701Q)

Some of us may have already filed our income tax returns in the new format prescribed by the Bureau of Internal Revenue (BIR).  These ...
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E-filing of the New Tax Forms (1700, 1701, 1702) Excel and Interactive Form

On April 3, 2012, the Bureau of Internal Revenue issued Revenue Memorandum Circular (RMC) No. 15-2012 prescribing additional guidelines ...
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2010 Top 500 Corporate (Non-individual) and Individual Taxpayers in the Philippines

Have you ever wondered who are the top income tax payers in the Philippines for the year 2010?  You might be surprised finding out ...
5

BIR and SEC Schedule of Filing of 2011 Financial Statements

While everyone is rushing for the completion of their 2011 financial statements, income tax returns and other reportorial requirements ...
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Format for Supplementary Information Required Under RR 19-2011 and 15-2010

Accountants and Auditors are now rushing on finalizing financial statements for filing with the regulatory bodies and other interested ...

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