One of the innovations introduced in Republic Act No. 11232, otherwise known as the “Revised Corporation Code of the Philippines” (RCC) is the One Person Corporation (OPC). OPCs offer many advantages for small and medium enterprises (SMEs) in terms of limitations on liability and taxation benefits, among others The benefit of limiting the business owner’s…

Reduction of Corporate Income Taxes Republic Act No. 11534, otherwise known as the “Corporate Recovery and Tax Incentives for Enterprises” (CREATE) Act is the second package of the Comprehensive Tax Reform Program that reduces corporate Income tax rates. The CREATE Act also provides other tax relief measures that will help businesses, particularly those organized as…

October 4, 2019 REVENUE MEMORANDUM CIRCULAR NO. 103-2019 – Prescribes the revised Estate Tax Amnesty Return, Certificate of Availment and clarification on the allowable deductions from the gross estate for Non-Resident Aliens pursuant to the provisions of Estate Tax Amnesty under Title II of RA No. 11213 (Tax Amnesty Act), as implemented by RR No….

May 30, 2019 REVENUE REGULATIONS NO. 6-2019 – Implements the provisions of Estate Tax Amnesty pursuant to Republic Act No. 11213 (Tax Amnesty Act) The Estate Tax Amnesty shall cover the estate of decedent/s who died on or before December 31, 2017, with or without assessments duly issued, therefore, whose Estate Tax/es have remained unpaid…

April 8, 2019 REVENUE REGULATIONS NO. 4-2019 – Implements the Rules and Regulations of RA No. 11213 (Tax Amnesty Act), Providing for the Guidelines on the Processing of Tax Amnesty Application on Tax Delinquencies RR 4-2019  implements the Rules and Regulations of Republic Act (RA) No. 11213 (Tax Amnesty Act), providing for the guidelines on…

February 14, 2019 REPUBLIC ACT NO. 11213 AN ACT ENHANCING REVENUE ADMINISTRATION AND COLLECTION BY GRANTING AN AMNESTY ON ALL UNPAID INTERNAL REVENUE TAXES IMPOSED BY THE NATIONAL GOVERNMENT FOR TAXABLE YEAR 2017 AND PRIOR YEARS WITH RESPECT TO ESTATE TAX, OTHER INTERNAL REVENUE TAXES, AND TAX ON DELINQUENCIES TITLE I Preliminary Provisions SECTION 1. Short Title….