Client Advisory Letter (February 2022)
At a glance
Updates, reiterations, and clarifications on selected topics
Taxes, compliance matters, assessments, and refunds
- Out of period Service of the Letter of Authority within 30 days from issuance
- Fresh start Evidence not submitted at the BIR level may still be offered in the CTA proceedings
- Proper claimant Withholding agent may file a claim for refund of taxes erroneously withheld and remitted
- Campaign donations Tax compliance reminders in relation to the May 2022 elections
- Full utilization Reporting of input VAT on purchases or importations of capital goods
- Sustained entitlement Filing of requests for confirmation, and tax treaty relief and tax sparing applications
- Substituted basis Clarifications, guidelines, and requirements for tax-free exchanges
- Vaccine update Updated list of VAT-exempt drugs and vaccines for COVID-19 treatment
- Wider scope Clarifying the coverage of the extension of deadlines under RR No. 1-2022
Latest on regulatory landscape
- Public notice Alternative means of distributing notices of annual stockholders’ meetings
- MDF guidelines Guidelines for the MDF submissions of non-stock corporations
- Annual SEC filings Filing of audited financial statements and general information sheet
- Double standards Adoption of Philippine Standards on Auditing and Financial Reporting Standards
- Parental guidance Wages of employees accompanying their children to vaccination
Meet us
- PwC SEA leaders discuss the state of ESG in business
- Asia Pacific CEOs’ sentiments made known in formal PH launch
- Roselle Caraig sworn in as TMAP director
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