LMA Law

ATTY. RON ARRIESGADO

The BIR’s GAD agenda

I was browsing through the website of the Bureau of Internal Revenue (BIR), and I came across Revenue Memorandum Order (RMO) 11-2019, which talks about the “Gender and Development (GAD), Vision, Mission, Strategic Directions, and 5-year GAD Agenda” of the BIR. To be honest, it was the first time I’ve heard of GAD, and some quick Googling revealed a few interesting facts about the subject.

ATTY. RON ARRIESGADO

When a sale of shares is a ‘deemed gift’

The Philippine business landscape has dramatically changed with the passage of Republic Act (RA) 10963, or the “Tax Reform for Acceleration and Inclusion” (Train) Law, with the introduction of new income tax rules affecting individual and corporate taxpayers. With new rules comes the responsibility of taxpayers to keep abreast with issuances from the Department of Finance and Bureau of Internal Revenue (BIR), implementing the provisions of the Train Law.

ATTY. RON ARRIESGADO

VAT exemption of resident foreign missions

The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Order (RMO) 10-2019, providing for the grant of value-added tax (VAT) privileges to resident foreign missions (foreign embassies and consulates). The privileges refer to the grant of VAT exemption to resident foreign missions, qualified personnel, dependents of qualified personnel, and entities that are similarly categorized as missions for their local purchase of goods and services.

ATTY. RON ARRIESGADO

Duterte vetoes General Tax Amnesty

President Rodrigo Duterte has signed into law Republic Act (RA) No. 11213, the “Tax Amnesty Act of 2019” (Tax Amnesty Act), but has vetoed several provisions, particularly the General Tax Amnesty (GTA). The GTA was supposed to cover all national internal revenue taxes (i.e., income tax, withholding tax, value-added tax, etc.), with or without assessments, that have remained unpaid as of Dec. 31, 2017.

ATTY. RON ARRIESGADO

Withholding tax on Meralco refunds

The Department of Finance (DOF) recently issued Revenue Regulations (RR) 1-2019, amending the creditable withholding tax (CWT) rates on refunds paid by the Manila Electric Co. (Meralco) to its customers. The regulation’s effectivity date is Jan. 1, 2019.

ATTY. RON ARRIESGADO

New BIR forms under Train

Last year, we discussed Revenue Regulations (RR) 8-2018, which implements the income tax provisions of Republic Act (RA) 10963, or the
“Tax Reform for Acceleration and Inclusion” (Train) Law.

ATTY. RON ARRIESGADO

BIR misses 2018 target

“YOU’RE waiting for a train. A train that will take you far away. You know where you hope the train will take you, but you can’t know for sure. Yet it doesn’t matter.” That’s a popular quote from the movie “Inception,” starring Leonardo DiCaprio and Marion Cotillard.

ATTY. PEACHES ARANAS

2019 BIR priority programs

THE new year has already rolled in, and February is just around the corner. Everyone is busy trying to come up with their new year’s resolutions. Most have vowed to visit the gym more often, in an effort to shed off the extra pounds gained by eating too much lechon during the holidays.

ATTY. PEACHES ARANAS

Reaccreditation of printers of official receipts/invoices

A lot of us have asked for an official receipt (OR) while eating out at a restaurant. The reasons we do this are varied, the most common of which is so that our employers may reimburse the amount on the bill that we paid for (granted that the meal is a legitimate representation expense).

ATTY. PEACHES ARANAS

90 days to process claims for VAT refunds

THE secretary of Finance has issued Revenue Regulations 26-2018, which amends certain portions of RR 13-2018, or the “2018 Value-added Tax (VAT) Regulations.”

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ATTY. PEACHES ARANAS

VAT exemption on the sale of drugs

As the saying goes, “Life begins at forty.” The origin of the phrase may be attributed to the fact that, generally, life begins to be better in one’s middle age.

ATTY. PEACHES ARANAS

Tax Amnesty Act of 2018

In last week’s article, we talked about the “Tax Amnesty Act of 2018” (Act), which was ratified by both houses of Congress. The Act has been submitted to President Rodrigo Duterte for him to sign it into law.

ATTY. PEACHES ARANAS

Tax Amnesty Act of 2018

Delinquent taxpayers may have a reason to be thankful this Christmas season as the Tax Amnesty Act of 2018 (Act) is a step closer to becoming a law. Just recently, the House of Representatives and the Senate

ATTY. PEACHES ARANAS

Of excise tax and hybrid electric vehicles

As the song goes, “It’s the most wonderful time of the year.” Christmas is definitely in the air, but definitely not in EDSA, where this season brings horrendous vehicular traffic.

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