How to Recover Excess Creditable Withholding Taxes in Corporate Dissolution
Have you ever purchased something and later realized you paid too much, only to be told by the retailer that no refund would be given? It’s a frustrating experience—being stuck with the extra cost. Thankfully, taxpayers in the Philippines are not left in such a situation when it comes to excess creditable withholding taxes (CWT). […]
RMC 57-2026: Final Tax on Casino and Gambling Jackpot Prizes
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 57-2026 to clarify that jackpot prizes from casino and other gambling activities are considered “winnings” under the National Internal Revenue Code (NIRC) of 1997, as amended. These winnings are subject to final withholding tax: 20% for citizens and resident aliens under Section 24(B)(1). […]
CREATE MORE Invest Smarter: Navigating the 2026 SIPP
With the recent issuance and approval by the President of the Philippines through Memorandum Order No. 47, effective 17 June 2026, the 2026 Strategic Investment Priority Plan (SIPP) introduces additional priority sectors that reflect the government’s continuing efforts to strengthen the country’s competitiveness in an increasingly digital and innovation-driven global economy. By recognizing emerging and […]
EOPTA: Key Provisions that the Power Industry Should Know
Republic Act “(RA)” No. 11976, known as the Ease of Paying Taxes (EOPT) Act, introduces comprehensive reforms to modernize and simplify tax compliance in the Philippines. This law significantly impacts the power industry, including Generation Companies (GenCos), the National Grid Corporation of the Philippines (NGCP), Distribution Utilities (DUs), and Electric Cooperatives (ECs), which handle high […]
Tax Audit & Due Process: When Does it Become Unfair?
The room was tense. The last words reverberating in the air were those of the revenue officers: “I‑CTA na natin ’to” (Let’s take this to the CTA). Time seemed to stop, as I calculated in a few seconds our next steps. Should I take the statement, uttered so lightly, as a threat or as an […]
Reasons Why Your VAT Refund Was Denied
The numbers made sense. Excess input VAT from prior periods. Capital goods purchases. Transactions subject to withholding. Or zero-rated sales that never translated into recoverable credits. The taxpayer had carefully tracked everything and, at some point, reached the same conclusion that there is VAT to be recovered. The claim was filed. Documents were submitted. The […]
Received an FDDA from the BIR? Here’s What Happens Next
In the lifecycle of a tax audit in the Philippines, few documents carry as much psychological weight as the Final Decision on Disputed Assessment, more commonly known as the FDDA. By the time it arrives, the taxpayer has already gone through the grind, from responding to a Letter of Authority, to replying to a Notice […]
Small Business at Buwis: Ang Katotohanan Tungkol sa Tax Compliance
Sa iba’t ibang lugar at pamilihan, hindi na bago ang pamilyar na galaw ng maliliit na negosyo. May maliit na sari-sari store sa harap ng bahay, karinderya sa kanto, ukay-ukay na itinitinda sa live stream sa social media, at pati na rin ang habal-habal na bumibiyahe sa mga rutang hindi naabot ng regular na transportasyon. […]
8% & Graduated Tax: What Can Save You More?
For many Filipinos working independently today, understanding taxes is as challenging as finding clients. From freelance designers and online sellers to consultants and professionals, a growing segment of the workforce now operates outside traditional employment. With that independence comes a responsibility many are still learning to navigate: choosing how to be taxed. Under Philippine tax […]
Double Taxation 101: How Tax Treaties Protect Your Global Income
In today’s globalized economy, individuals and businesses frequently earn income across national borders. While this creates opportunities for growth and expansion, it also introduces the challenge of double taxation. This occurs when the same income is taxed by two different countries, placing an extra financial burden on taxpayers. For professionals involved in international finance or […]
