
Modification, Dropping and Creation of Alphanumeric Tax Code of Selected Revenue Source under R.A. No. 12066 or the CREATE MORE Act
Circularizing Joint Administrative Order (“JAO”) No. 002-2025, Series of 2025, entitled "Guidelines to Implement Sections 6, 7, and 8 of Republic Act No. 12066, on the Certification of Export-Oriented Enterprise with Export Sales of at Least Seventy Percent (70%) of the Total Annual Production of the Preceding Taxable...
Guidelines in the Filing of Annual Income Tax Returns and Payment of Taxes Due Thereon for Calendar Year 2024
Pursuant to Section 32 of Republic Act (RA) No. 12066, entitled, “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,...
The rules governing procurement have changed significantly over the past three years. In 2022, the Implementing Rules & Regulations (IRR) for the Build-Operate-and-Transfer (BOT) Law underwent two revisions — in March and September, respectively. In April 2023, the National Economic and Development Authority’s (NEDA)...
More than a year has passed since the Philippines became part of the OECD BEPS Inclusive Framework. While the tax authorities here had issued several transfer pricing regulations prior to this, at this time, the country has yet to completely formalize its alignment with some of the requirements provided under the BEPS...
As the digital economy continues to expand, governments worldwide are adapting their tax systems to keep pace. The Philippines is no exception. Starting on June 2, digital services consumed within the country will be subject to a 12% Value-Added Tax (VAT), following the signing of Republic Act (RA) No. 12023 and its...
Tax assessments can be a significant source of worry and concern for taxpayers. The process, from submitting the required documents to dealing with the multiple notices from the Bureau of Internal Revenue (BIR), can feel overwhelming. Certain provisions of the law, particularly regarding due process, can also be...
Mary Jade T. Roxas-Divinagracia, CFA, CVA
Deals and Corporate Finance Managing Partner, PwC Philippines
Tel: +63 (2) 8845 2728