The electronic invoicing system was first introduced via an amendment to the National Internal Revenue Code (NIRC or Tax Code) through the TRAIN Law, effective January 2018, and further amended by the recently signed CREATE MORE. To implement the updated provisions on electronic invoices, electronic sales reporting and additional allowable deductions, the BIR issued Revenue Regulations (RR) No. 11-2025.
The Philippines is one of the first adopters of Build-Operate-Transfer (BOT) or Public-Private Partnership (PPP) schemes for infrastructure development in Asia. To date, there are 174 PPP projects in the government’s pipeline. In 2023, Republic Act No. 11966, or The PPP Code of the Philippines, was signed into law to create a unified regulation for all PPP projects, including Joint Ventures (JVs).
I was browsing through the envelopes in my mailbox when I found an unsolicited letter that had been sitting there for some time. I wondered how the sender got my home address. It turned out to be a greeting from a city councilor. It did not look like the usual political ad, but the name and message of the sender remained in my mind. Indeed, some politicians have been preparing for the elections and reaching out to potential voters even before the campaign period began. Apart from the actual elections, one of the important things that they should have in mind are the tax aspects of campaign contributions.
Pursuing tax refunds in the Philippines can be complex, but the process rewards the meticulous. A recent ruling by the Court of Tax Appeals (CTA) sitting en banc underscores the intricate process involved in claiming tax refunds and highlights the importance of adhering to the stringent requirements set forth by the Bureau of Internal Revenue (BIR).
Filing a tax refund claim brings a sense of anticipation, as taxpayers aim to get back a portion of their hard-earned money. However, the process of obtaining a VAT refund in the Philippines is often one of the most challenging experiences taxpayers can go through. Considering the rigorous documentation requirements and thorough review process of the BIR, a comprehensive understanding of the VAT refund process is essential for successful recovery.
In November, Republic Act 12066 (otherwise known as CREATE MORE), which amended CREATE, was finally signed into law. The new law seeks to enhance the competitiveness of the Philippines’ incentive regime.
Strolling through the mall one afternoon, I came across a cafe with a poster outside bearing signage that the cafe was “deaf-friendly” in large text. It felt good to be reminded that there are still some things right in this world. The incident also highlighted the strides we are making in creating an inclusive society. Like many other things, this is a product of efforts to lobby for awareness and support the needs of Persons with Disabilities (PWDs).
Imagine a world where the rules of the game are crystal clear. In December, the Bureau of Internal Revenue (BIR) took a huge step to clarify the tax treatment of the Philippine Amusement and Gaming Corp. (PAGCOR), including its Contractees and Licensees, when it issued Revenue Memorandum Circular (RMC) No. 132-2024. Building on past issuances (under RMC Nos. 33-2013 and 32-2022) and Supreme Court rulings, the BIR’s latest guidelines aim to untangle the complexities of PAGCOR’s diverse income streams and their tax treatment. Whether gaming operations or non-gaming operations, for both contractees or licensees, the RMC aims to streamline compliance and eliminate the long-standing ambiguities that may have produced multiple interpretations.
As we hold public officers and employees to higher standards of conduct and ethics, we also recognize the importance of supporting them in fulfilling these exacting principles of public service. This will reduce the burden of generally perceived low wages, and even boost morale. Given limited resources, it has become a normal practice for concerned and reputable businesses to voluntarily provide their services at discounted prices, with the aim of contributing to the well-being of those who serve the public.
2025 has finally rolled in and social media posts about the possible long weekends throughout the year brought about by the declared regular and special non-working holidays are all over the place. Of course, when we speak of long weekends, people tend to see these as possible out-of-town holidays or even long haul flights to other countries.
The New Year is a time of renewal and fresh beginnings. For businesses, it is a time to revisit existing policies, and keep abreast of new developments.
As we contemplate the meaning of Christmas two millennia after our Messiah was born in a humble manger, we also come to observe that nothing is really constant except change. Over the ages, the world has experienced recurring plagues, economic upheavals, revolutions and wars, despite best efforts of the authorities to minimize or avoid them. Recently, as a response perhaps to their handling of the economy, social issues and geopolitical tensions, the Democratic party widely lost its mandate to the Trump-led Republican party in the US elections. Trump astutely rode a red wave by promising struggling Americans a brighter future, and is set to chart a widely different course when he assumes office in January.
Christmas is a time for family reunions — a moment to celebrate traditions, revisit shared goals, and reflect on legacies. For those with family businesses, these gatherings often spark deeper discussions about preserving wealth and maintaining harmony across generations. One way families prepare for succession planning is by coming up with a family constitution. This document serves as a moral and operational guide for managing not only family-owned businesses, but general family affairs as a whole. A family constitution generally covers several key areas, including the family’s values, mission, and vision. It also outlines governance structures and decision-making processes for family affairs. Additionally, it includes succession plans and qualifications for leadership roles to prepare for a seamless transition to the next generation. Finally, it contains conflict resolution mechanisms that provide structured approaches for resolving disputes.
Rapid advances in technology present businesses with unique opportunities and challenges they must navigate to maintain a competitive advantage. As businesses leverage technology to expand their avenues for profit, they also face an increased potential for losses. An example of this can be seen in the e-commerce industry. While the use of technology has led to a boost in sales volume, this naturally results in a rise in potential uncollectible receivables. Thankfully, taxpayers are offered some relief from paying income taxes on revenue which is uncollectible.
2025 Tax Calendar. This calendar lists all important payments and registration schedules from the BIR, SEC and other agencies.
On November 12, BIR consulted on VAT rules for digital services; final regulations are expected by January, impacting non-resident DSPs.
