The Bureau of Internal Revenue (BIR) exceeded its collection target for April, defying the potential slowdown from a deadline extension for annual income tax filings (AITRs). In a statement on Thursday, May 14, the agency reported that it collected ₱422.38 billion in gross revenues last month,...
The Bureau of Internal Revenue (BIR) is pivoting its enforcement strategy toward high-value targets, effectively abandoning the pursuit of small-scale tax delinquents where the cost of collection exceeds the potential recovery. BIR Commissioner Charlito Martin R. Mendoza issued Revenue Memorandum...
The Bureau of Internal Revenue (BIR) is requiring online merchants and digital content creators to conspicuously display the standardized registration badge on their portals, stepping up efforts to monitor the fast-growing digital economy and secure the nation’s tax base. Under Revenue Memorandum...
The Department of Finance (DOF) is moving to overhaul the country’s real estate taxation, targeting 2028 for the full rollout of a market value-based property valuation system. In a statement, the DOF said the initiative aims to replace the long-standing and currently suspended zonal value...
The Bureau of Internal Revenue (BIR) seized 19 motor vehicles on Wednesday, April 29, stepping up its tax enforcement against a high-profile construction group and its owners. In a statement, BIR said the operation, conducted in coordination with the Bureau of Customs (BOC), targeted assets linked...
The Bureau of Internal Revenue (BIR) has ordered a formal tax audit of Vice President Sara Z. Duterte, her husband Manases R. Carpio, and nine affiliated business enterprises. In a statement on Tuesday, April 28, BIR Commissioner Charlito Martin R. Mendoza confirmed the issuance of Letters of...
While delinquent estate taxpayers may avail themselves of installment payments under the amnesty program, the taxman warned that missing due dates will result in the forfeiture of amnesty benefits. “Installment payment may be allowed within two years from the statutory date of its payment without...
Tax authorities filed a criminal complaint against former presidential spokesperson Herminio “Harry” Roque Jr., his wife, and a business associate for alleged tax evasion involving their holding company. In a statement, the Bureau of Internal Revenue (BIR) said the agency submitted the...
Double-digit revenue growth, coupled with slower spending, allowed the Marcos administration to narrow the first-quarter fiscal hole by a fifth to ₱355.5 billion. According to the latest data from the Bureau of the Treasury (BTr), the national government’s (NG) budget deficit for the first...
The Securities and Exchange Commission (SEC) has extended by 15 days to one month the deadlines for filing 2025 annual financial statements (AFS) and related reportorial requirements of corporations with a fiscal year (FY) ending Dec. 31, 2025. In a notice, the SEC said the extension was approved...
The Bureau of Internal Revenue’s (BIR) tax collections rose by double digits in March, providing a critical fiscal buffer for the Marcos administration as it grapples with persistent energy crisis that threatens to dampen domestic demand. Preliminary data released by the agency on Wednesday,...
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 27-2026, publishing the updated list of medicines exempt from 12-percent value-added tax (VAT), as endorsed by the Food and Drug Administration (FDA). Released on April 8, 2026, the circular covers 2,263...
