Only the gross income earned from assets attributable to a personal equity and retirement account (PERA)—not the entire account balance—will be subject to a 20-percent charge if accountholders opt to prematurely withdraw their contributions, the country’s top tax authority clarified. Amid...
The Bureau of Internal Revenue (BIR) collected ₱2.003 trillion in the first seven months of the year, surpassing its target for the period as stronger taxpayer compliance and administrative reforms boosted government revenue. In a statement, BIR Commissioner Charlito Martin R. Mendoza said that...
The Bureau of Internal Revenue (BIR) has pushed back deadlines for specified tax filings and payments to Aug. 17 for regions hit by heavy monsoon rains, providing relief to affected individuals and businesses in Luzon. Under Revenue Memorandum Circular No. 89-2026, the extension applies to tax...
Nearly half of Philippine businesses remain dissatisfied with registration and closure procedures despite a law aimed at cutting red tape, as fragmented government systems, weak data sharing, and uneven digitalization continue to slow transactions, according to the Department of Economy, Planning,...
Actors Alden Richards and Barbie Forteza have been recognized by the Bureau of Internal Revenue (BIR) as among the country 's top taxpayers, with the agency also commending their efforts to promote responsible tax compliance. Richards was cited as one of the Philippines ' highest...
In a bid to step up efforts to trace money behind the illegal drug trade, the Philippine Drug Enforcement Agency (PDEA) and the Bureau of Internal Revenue (BIR) formalized an agreement that allows both agencies to exchange information for law enforcement and intelligence operations. The Data...
Senate Secretary and Clerk of Court Renato Bantug said on Thursday, July 30, that all banks served with subpoenas by the Senate Impeachment Court have submitted the documents requested in connection with the impeachment trial of Vice President Sara Duterte. Bantug said the Bureau of Internal...
Vice President Sara Duterte may still get to travel abroad, but figuratively, her world is shrinking. Thus, said House prosecutor Bicol Saro Party-list Rep. Terry Ridon on Thursday, July 30 after he got wind that President Marcos green-lit the Anti-Money Laundering Council (AMLC) and the Bureau of...
The Bureau of Internal Revenue (BIR) expressed readiness to execute the tax reform agenda outlined by President Ferdinand R. Marcos Jr. during his 2026 State of the Nation Address (SONA). BIR Commissioner Charlito Martin R. Mendoza said the tax assessment agency is positioning itself to implement...
The Bureau of Internal Revenue (BIR) has released guidelines clarifying the tax abatement initiative for micro-enterprises to clear up confusion surrounding eligibility criteria and unresolved penalties. Under Revenue Memorandum Circular No. 84-2026, the tax authority outlined the operational...
Businesses seeking to claim net operating losses incurred during the height of the pandemic in 2020 and 2021 cannot do so through the Bureau of Internal Revenue’s (BIR) standard electronic filing systems, which remain hard-coded for a three-year carry-over window. Under Republic Act No. 11494...
The Bureau of Internal Revenue (BIR) filed criminal complaints against Sunwest Inc. and its top executives over an estimated ₱22.71 billion in unpaid deficiency income taxes, marking one of the government’s largest tax enforcement actions this year. In a statement, the BIR said that the tax...
