Tag: BIR

THE Bureau of Internal Revenue (BIR) said it extended the deadlines for filing the new related party transactions (RPT) form, acknowledging possible difficulties in compiling the needed information due to the coronavirus disease 2019 (COVID-19) pandemic.

THE two major revenue-collecting agencies surpassed their reduced targets for the eight months to August with business activity picking up, though they both remain behind the year-earlier pace because of the damage to the economy caused by the pandemic.

THE Bureau of Internal Revenue (BIR) is offering a program to allow taxpayers to voluntarily settle their tax arrears, as the agency seeks to reduce its audit investigations amid the coronavirus disease 2019 (COVID-19) pandemic.

THIS YEAR’S collection targets of the government’s main revenue-generating agencies have been slashed once again, as economic activity remains sluggish due to the pandemic.

A COURT upheld its decision to order the Bureau of Internal Revenue (BIR) to pay back P27.34 million to Semirara Mining and Power Corp....

THE Bureau of Internal Revenue (BIR) has revised the rules on the imposition of tax on the sale, barter or other disposition of shares of stocks that are not listed in the local bourse to clarify how the fair market value (FMV) of shares will be determined.

NON-RESIDENTS stranded in the Philippines due to the coronavirus travel bans are not liable for income tax in the Philippines, subject to certain conditions, according to the Bureau of Internal Revenue (BIR).

THE Bureau of Internal Revenue (BIR) saw a decline in the issuance of cigarette tax stamps during one of the world’s longest and strictest lockdowns to curb the spread of the coronavirus disease 2019 (COVID-19).

THE BUREAU of Internal Revenue (BIR) has issued the guidelines to implement the neutral tax treatment of equivalent transactions between Islamic banks and conventional banks.

AROUND 3,254 online sellers have registered with the Bureau of Internal Revenue (BIR) by the end of July, with the enrolment deadline extended by a month.

THE Bureau of Internal Revenue (BIR) has set the end of September as the deadline for taxpayers to report and submit documentation on related-party transactions (RPTs) of any size, with no reporting threshold determined yet.

THE Bureau of Internal Revenue (BIR) said it streamlined the process for cancelling permits to use (PTU) cash registers, point-of-sale (POS) machines and other such devices in compliance with the Ease of Doing Business Act.

THE Bureau of Internal Revenue (BIR) is exempting imports of prescription drugs to treat diabetes, high cholesterol and hypertension from value-added tax (VAT).

TAXES collected by the country’s two biggest revenue-generating agencies started to pick up in June, but this was not enough to help them meet collection targets for the first six months of 2020.

ABS-CBN Corp., which the regulator ordered closed after its franchise expired last month, had paid all taxes, according to the Bureau of Internal Revenue (BIR).

AROUND 77% of all taxes collected as of mid-June were coursed through electronic payment (e-payment) channels, the Bureau of Internal Revenue (BIR) reported, after the lockdown coincided with income tax season.

THE BUREAU of Internal Revenue (BIR) will still go after Philippine offshore gaming operation (POGO) companies that are leaving the country to make them pay their tax obligations, the Finance chief said.

THE ongoing tax amnesty program has yielded more than P2.5 billion in collections so far, according to the Bureau of Internal Revenue (BIR), which expects more taxpayers to avail themselves of the program after the cut-off date was extended to end-2020.

THE Bureau of Internal Revenue’s (BIR) tax collection target for 2020 has been reduced further by 23%, with the collection goal for excise taxes nearly halved on expectations of a severe economic slowdown.

THE Bureau of Internal Revenue (BIR) said Wednesday it is laying the groundwork for taxing online service platforms and merchants including streaming services like Netflix.

ALL ONLINE businesses are given until July 31 to register for tax compliance with the Bureau of Internal Revenue (BIR), as the government seeks to plug tax leakages and raise revenues.

THE Bureau of Internal Revenue (BIR) is streamlining the process for registering a new business, by removing the mayor’s permit as one of the requirements.

THE Bureau of Internal Revenue (BIR) said the government’s urgent need for funds rules out any further extensions of tax deadlines, though it will consider extending the availment period for the tax amnesty on delinquencies.

THE BUREAU of Internal Revenue (BIR) has also extended deadlines of other tax returns for 30 days due to the Luzon-wide lockdown.

THE Bureau of Internal Revenue (BIR) has temporarily halted the operations of the Manila Cockers Club, Inc. (MCCI) for not paying proper taxes. It also sealed some of MCCI’s unregistered ticket-dispensing machines on Thursday.

THE BUREAU OF Internal Revenue (BIR) has clarified that the Bangko Sentral ng Pilipinas’ (BSP) tax exemption only applies to the income generated from its governmental functions, as the rest of its earnings are considered proprietary income.

PHILIPPINE authorities trooped to an office building in the capital to shut an online casino for tax evasion, only to be surprised to find the company wasn’t there.

THE Bureau of Internal Revenue (BIR) said Friday it expects to grow the volume of taxes paid online after launching a seventh electronic channel through e-wallet service PayMaya.

THE Bureau of Internal Revenue (BIR) sued seven taxpayers over alleged tax liabilities amounting to P825 million.

THE Bureau of Internal Revenue (BIR) has suspended the deadlines of filing and payment of tax returns in Batangas to provide relief to the residents affected by the eruption of Taal Volcano, until the situation returns to normal.

THE BUREAU OF Internal Revenue (BIR) has issued the implementing rules and regulations (IRR) for the central bank’s tax exemption from all national taxes under its amended charter.

THE Bureau of Internal Revenue (BIR) filed charges against a suspect who illegally sold more than 100 fake tax identification number (TIN) cards to Chinese workers.

THE Bureau of Internal Revenue (BIR) has ordered commercial establishments to adopt a new format of notice informing their customers about the shops’ duty to issue receipts.

TIMBER WOOD Development Corp., registered as a lumber products trader based in Tagoloan, Misamis Oriental, is facing a P118 million criminal complaint for engaging in plywood manufacturing as well as possessing cigarettes and chewable tobacco products with fake tax stamps.

ANOTHER Philippine Offshore Gaming Operator (POGO) service provider has been padlocked amid the government’s crackdown on the sector.

THE SALARY differential under the Expanded Maternity Leave Law (EMLL) Law is now tax-free since it is considered as a benefit, according to the Bureau of Internal Revenue (BIR).

PAYMAYA Philippines, Inc. is partnering with the Bureau of Internal Revenue (BIR) to allow its users to remit tax payments through the PayMaya app.

THE Department of Finance (DoF) said the Bureau of Internal Revenue (BIR) fell “a little short” of its target revenue collection for the first half amid slow economic growth.

THE BUREAU of Internal Revenue (BIR) filed separate criminal complaints before the Department of Justice (DoJ) against six taxpayers for alleged failure to pay dues with a total worth of P161.8 million.

THE BUREAU of Internal Revenue (BIR) offices in the cities of Caloocan and Legazpi filed 12 complaints before the Department of Justice against taxpayers for willful failure to pay taxes amounting to a total of more than P776 million.

THE BUREAU of Internal Revenue in Cebu (BIR-13) reported a 29.34% increase in its 2019 first quarter collection to P7.89 billion from P6.10 billion in the same period last year.

THE BUREAU of Internal Revenue (BIR) outlined the tax duties of candidates for the midterm elections, which covers their campaign expenses and contributions.

THE Bureau of Internal Revenue (BIR) is targeting to P2.33 trillion this year, 14% higher than the P2.04 trillion goal last year as it plans to introduce new reforms and leverage on technology to improve tax payments and collections.

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THE BUREAU of Internal Revenue (BIR) has instructed coal producers to withhold the excise tax payable from buyers of coal products such as power generators.