Revenue Memorandum Circular 19-2024: Understanding the Tax Treatment of Interest Expense

The Bureau of Internal Revenue (BIR) of the Philippines recently issued Revenue Memorandum Circular (RMC) No. 19-2024, providing valuable clarification on the tax treatment of interest expenses. This circular aims to guide individuals, businesses, and tax professionals in understanding the proper recognition, capitalization, and deduction of interest expenses for tax purposes. Importance of Understanding Interest […]