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Are Properties Sold by Real Estate Businesses Always Classified as Ordinary Assets?

real estate assets

Selling Property? The BIR Has Drawn a Clearer Line in the Sand. Under Revenue Memorandum Circular (RMC) No. 31-2025, the Bureau of Internal Revenue (BIR) is tightening its stance on how real properties sold by those habitually engaged in the real estate business are classified and taxed. The distinction between capital and ordinary assets is […]

RR No. 03-2025: A Game-Changer for VAT on Digital Services in the Philippines

Think back to the last time you streamed a show, downloaded an e-book, or subscribed to a cloud service. Taxes probably weren’t top of mind—but now, these digital activities carry new tax implications. In response, the Philippine government introduced Revenue Regulations No. 03-2025. This regulation aims to establish a fairer tax environment for digital services, […]

The CREATE MORE IRR Opens More WFH Opportunities for BPO Employees

The recent implementation of the CREATE MORE IRR marks an important moment for the BPO sector in the Philippines. This legislation introduces significant benefits, particularly in taxation and work-from-home (WFH) arrangements, designed to enhance operational flexibility and competitiveness. WFH Opportunities for BPO Employees Under the signed CREATE MORE IRR, BPO companies can now allow up […]

CREATE MORE Act Philippines: Tax Incentives & Investment Benefits for 2025

CREATE MORE Act tax incentives for BPOs in the Philippines.

If you’re in the tourism, manufacturing, or BPO industry, now is the best time to expand your business in the Philippines. The CREATE MORE Act (Republic Act 12066), officially known as the Corporate Recovery and Tax Incentives for Enterprises – More Opportunities and Rationalization of Efficiency Act, is transforming investments in the country by offering […]

Understanding the VAT Refund for Tourists in the Philippines

What Is the VAT Refund Program? The Philippines’ VAT refund system is a new benefit for international travelers looking to shop and save while exploring the country. Under Republic Act No. 12079, non-resident tourists can now claim a 12% VAT refund on eligible purchases made at accredited stores. If you’ve ever wondered, “How much is […]

How to Know Your BIR RDO: A Complete Guide for Taxpayers

How to Know Your BIR RDO A Complete Guide for Taxpayers

All taxpayers are assigned to a specific BIR Revenue District Office (RDO) based on where they live. Your RDO code is key to ensuring your tax filings are processed correctly, helping you avoid delays, penalties, or audits.  Understanding your RDO code isn’t just a formality—it’s essential for keeping your tax records accurate and up to […]

How To Get BIR Form 2316 From Your Previous Employer

How To Get BIR Form 2316 From Previous Employer

Dealing with tax documents can be stressful, especially when you’re switching jobs this year.  One key document that often causes concern is the BIR Form 2316, which details your earnings and taxes withheld for the year. Without it, you might face difficulties in filing your tax returns and presenting your proof of income. In this […]

File & Pay Taxes Anywhere! New EOPT Regulations Simplify Tax Compliance

EOPT Alert: Our digest on the recently issued RR 4-2024 on filing and paying taxes anywhere Introduction: Great news for Filipino taxpayers! The Bureau of Internal Revenue (BIR) recently issued Revenue Regulations No. 4-2024, implementing key provisions of the Ease of Paying Taxes (EOPT) Act. This translates to more straightforward tax filing and payment processes […]

Top 7 Impactful Things You Should Know About RR 3-2024

New Rules for VAT & Percentage Tax (A.K.A. EOPT’s VAT and Percentage Tax Timely Amendments) “As the deadline for VAT filing approaches, embracing Revenue Regulation (RR) No. 3-2024 is not just compliance, it’s strategic business acumen,” says a leading accountant. RR No. 3-2024 simplifies and modernizes VAT and Percentage Tax under the Ease of Paying […]