The Bureau of Internal Revenue (BIR) has issued a circular declaring that the central bank, known as Bangko Sentral ng Pilipinas (BSP), is not a bank and therefore exempted from certain taxes such as gross receipts tax (GRT).Revenue Memorandum Circular 65-2008, signed by former BIR ...
The Bureau of Internal Revenue (BIR) has issued a circular declaring that the central bank, known as Bangko Sentral ng Pilipinas (BSP), is not a bank and therefore exempted from certain taxes such as gross receipts tax (GRT).Revenue Memorandum Circular 65-2008, signed by former BIR commissio...
In return, the businesses, also known as the tax withholding agents, will have to provide BIR Form 2307 (or Form 2306) as evidence that the supplier paid up. The businesses can deduct the tax amount withheld from their income tax for the taxable period. What are the different types of wi...
BIR Form 2316, also known as theCertificate of Compensation Payment/Tax Withheld, is a document issued by employers to their employees annually. This form is evidence of the employee’s income and the corresponding taxes withheld by the employer during the calendar year. It is a critical documen...
tax on political contributions.But Tan-Torres stressed that under Section 99 of the National Internal Revenue Code (NIRC), contributions to any candidate or political party for campaign purposes is governed by the Election Code and thus exempted from taxation.Such contributions, however, should be ...
fees and other assessment/charges collected by homeowner's associations from its homeowners. There is however a creative way for the homeowner's association to be exempted from the directive of the Bureau of Internal Revenue from payment of income tax, value added tax and percentage tax. The...
The Bureau of Internal Revenue (BIR) is reminding all employees of foreign government agencies as well as international organizations and institutions that are operating within the Philippines that they are not exempted from reporting their compensation income.Manila Bulletin...
No more tax forms to fill up this April.Manila Bulletin