Philippine taxation

Latest issues

Partners for real change: Cultivating a culture of accountability and integrity

08 Dec 2016

In an attempt to generate a greater sense of accountability among tax officials conducting investigations and to ensure an effective feedback mechanism for taxpayers, two new tax issuances were recently released -- Revenue Memorandum Order Nos. 54-2016 and 61-2016.

Absent but present

01 Dec 2016

With a month to go before 2016 ends, companies are now processing their payroll annualization, estimating the final amount of tax for individual employees. For a citizen working abroad during the taxable year, one very important matter to consider is his residential status, because it will determine how much of his income, if any, is taxable.

Financing business made easier

24 Nov 2016

The earliest set of rules governing the establishment and operation of a financing company in the Philippines -- Republic Act No. 5980, otherwise known as “The Financing Company Act” -- dates back to the ’70s. Since then, the law, including its rules and regulations, went through several amendments in a span of almost five decades.

Partners for real change: Cultivating a culture of accountability and integrity

08 Dec 2016

In an attempt to generate a greater sense of accountability among tax officials conducting investigations and to ensure an effective feedback mechanism for taxpayers, two new tax issuances were recently released -- Revenue Memorandum Order Nos. 54-2016 and 61-2016.

Read all Taxwise or Otherwise

New accounting for leases - so what?

07 Oct 2016

The new lease accounting standard will fundamentally change the accounting for lease transactions and is likely to have significant business implications. Almost all leases will be recognized on the balance sheet, with a right of use asset and financial liability that recognize more expenses in profit or loss during the earlier life of a lease. This will have an associated impact on key accounting metrics, and clear communication will be required to explain to the impact of changes to stakeholders.

Read all Client Advisory Letters

2016 Tax calendar

28 Dec 2012

This calendar lists all important payments and registration schedules from the BIR, SEC and other agencies.

National Internal Revenue Code of 1997

06 Sep 2007

A codal version of National Internal Revenue Code of 1997 (Tax Code). Including RR 10-2008, RR 16-2008,Consolidated Withholding Tax Regulations, Consolidated Fringe Benefits Tax Regulations

CWT and FBT Regulations Handbook: Philippines 2006

13 Aug 2013

Consolidated Withholding Tax (CWT) and Fringe Benefits Tax (FBT) Regulations Handbook: Philippines 2006