Category Archives: Uncategorized

Streamlining the Procedures and Documents Benefits for the Availment of Tax Treaty Benefit

Revised Guidelines on eAFS and Submission of Form 1709 and Required Attachments

An Act reforming the Corporate Income Tax and Incentive Systems is signed into law. Highlights: RA 11534 cuts corporate income tax rate to 25 percent from the current 30 percent. Retroactive from July 1, 2020. According to the law, “Provided, that corporations with net taxable income not exceeding PHP5 million and with total assets notContinue reading “CREATE ACT (RA#11534)”

SEC Online Submission Tool Goes Live at the following link: https://cifss-ost.sec.gov.ph/user/login

Schedule and Procedure For Filing Annual Financial Statements, GIS and Other Covered Reports

The BIR has issued RMC 29-2021 dated January 25, 2021 allowing eSignature on certain BIR Forms. See attached for the complete reference.

BIR has issued RMC 17-2021 dated January 26, 2021 extending the filing of 1604C and 1604F, including the QAP for the 4th Quarter 2020 from January 31, 2021 to February 28, 2021. Also, resubmission of alphalist from old version to new version is no longer required. Attached is the pronouncement for complete reference.

The BIR issued RMC 13-2021 dated January 27, 2021 announcing the availability of BIR Mobile Taxpayer Identification Number (TIN) Verifier Application. As stated in the memorandum, “The BIR Mobile TIN Verifier App is a service channel for taxpayers to send online TIN validation and TIN inquiry using their mobile phones with real-time response from theContinue reading “BIR Mobile TIN Verifier App”

BIR issued RMC 4 – 2021 dated December 22, 2020 for the Guidelines of Filing ITR including the required Attachments and payments.