IN last week’s article, we discussed Revenue Regulations (RR) No. 8-2018, implementing the income tax provisions of Republic Act (RA) No. 10963, or the “Tax Reform for Acceleration and Inclusion” (TRAIN) Law, specifically, the new income tax rates for individual citizens, resident aliens, and non-residential aliens, among others. In particular,

The Bureau of Internal Revenue (BIR) has recently issued Revenue Regulations (RR) No. 6-2018, revoking RR No. 12-2013, relative to the deductibility of certain expenses. These expenses particularly pertain to ordinary and necessary trade, business or professional expenses. Under the National Internal Revenue Code (NIRC), as amended, taxpayers are allowed…