They say history repeats itself — and in taxation, that’s often true. Over the years, taxes have consistently undergone a familiar cycle of reform, resistance and frustration. While the specifics evolve, the underlying narrative remains unchanged: the government seeks revenue, taxpayers push back, and the tug-o-war...
Export-oriented enterprises (EEs) are vital contributors to the economy, driving industrial growth, attracting foreign investment, and generating employment across various sectors. To support these businesses, the government has historically offered tax incentives, including Value-Added Tax (VAT) zero-rating and...
With the prevalence of transfer pricing (TP) regimes, keeping up with new rules and guidelines is becoming more crucial. Recently, the Bureau of Internal Revenue (BIR) released draft Revenue Regulations (RR) outlining the proposed implementation of Advance Pricing Agreements (APA) in the Philippines.
With the government’s proposed national budget for 2026 pegged at P6.793 trillion — a 7.4% increase from the previous year’s budget — it is clear that the Bureau of Internal Revenue (BIR) will be intensifying its tax collection efforts to raise the much-needed funds.
Disaster resilience is critical for developing nations, particularly for the Philippines, which has to endure frequent typhoons, floods, and other natural calamities due to its geographic and climatic characteristics. The potential damage to life and property and the disruption cannot be dismissed. At this point, we...
On July 28, the 20th Congress officially convened for its first regular session, marking the final half of the current administration’s term. Interestingly, even prior to this formal opening of session, we saw several Senators who proactively introduced and filed priority bills.
As the country enters the second half of the year, we brace ourselves for the familiar rhythms of the rainy season. This period brings not only cooler temperatures but also relentless rains, unpredictable weather, and, worse, flooding that disrupts daily life. Beyond the inconvenience lies a deeper struggle: homes...
A common guiding principle across accounting, law, and tax is the concept of “substance over form.” That is, the economic reality of a transaction must prevail over its legal form. While this may be the case, tax investigations in the Philippines generally apply a stricter measure in reviewing expenses....
