QDMTT Explained: What the Global Minimum Tax Means for the Philippines and Foreign Investors
For many years, countries have attracted foreign investors by offering tax incentives such as income tax holidays, reduced tax rates, enhanced deductions, and other fiscal benefits. The Philippines has also used these incentives to encourage investment in manufacturing, business process outsourcing, export services, logistics, renewable energy, and other priority sectors. However, the global tax environment […]
Withheld for Good: Understanding Final Withholding Tax
The Final Withholding Tax (FWT) is an essential feature of the Philippine income tax framework under the National Internal Revenue Code of 1997 (NIRC) in Sections 57, 58, and 59, as amended and its implementing regulations are found in Revenue Regulations (RR) No. 11-2018, and RR 02-2020. It functions as a tax collection system at […]
RMC 53-2026: Thing You Need to Know About the Large Taxpayers Service Portal
The Bureau of Internal Revenue (BIR) has announced the availability of the Taxpayer Portal and its pilot implementation for taxpayers registered under the Large Taxpayers Service (LTS). The portal is a secure digital platform designed to modernize tax administration, streamline compliance, and enhance taxpayer convenience. Key Functionalities Available View Registration Information – Access current taxpayer […]
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 […]
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 […]
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 […]
