TAXATION

BIR INCREASES DE MINIMIS BENEFIT CEILINGS: REVENUE REGULATIONS NO. 29-2025

TAXATION, Legal Updates, TAX EXEMPTION / By Admin GVES

The Bureau of Internal Revenue (BIR) has issued Revenue Regulations (RR) No. 29-2025, dated 27 October 2025 and posted on the BIR website on 22 December 2025, increasing the allowable ceilings for De Minimis benefits granted to employees. De Minimis benefits are employee benefits that are exempt from income tax and withholding tax on compensation, …

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Supreme Court: BIR Cannot Use Distraint, Levy, or Garnishment Without Delinquency or a Valid Assessment

Corporate, Legal Updates, TAXATION / By Admin GVES

In Commissioner of Internal Revenue v. Stradcom Corporation (G.R. No. 255520, 21 April 2025, Caguioa, J.), the Supreme Court affirmed the Court of Tax Appeals (CTA) and ordered the Commissioner of Internal Revenue to refund or issue a tax credit certificate in favor of Stradcom Corporation in the amount of ₱325,381,412.81, representing illegally collected income tax for …

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RMC NO. 107-2025 – Suspension of all Audit and Other Field Operations of the Bureau of Internal Revenue Until Lifted by the Commissioner of Internal Revenue

Corporate, Finance, Legal Updates, TAXATION / By Admin GVES

On 24 November 2025, the Bureau of Internal Revenue (“BIR”) issued Revenue Memorandum Circular (“RMC”) No. 107-2025, ordering the immediate suspension of all ongoing field audits and audit-related operations. The suspension covers the issuance of Letter of Authority (“LOA”), Mission Order (“MO”), examination, and verification of taxpayers’ books of accounts, records, and other related transactions. …

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Acquittal Does Not Extinguish Tax Liability: Supreme Court Reaffirms Independence of Criminal and Civil Tax Enforcement

Legal Updates, TAXATION / By Admin GVES

In a recent ruling in People v. E&D Parts Supply, Inc. and Margaret L. Uy, GR No. 259284, January 24, 2024 (published on January 24, 2025), a Supreme Court decision reiterating long-standing doctrine on the effect of acquittal in tax cases), the Supreme Court reaffirmed a fundamental rule in Philippine tax law: the acquittal of an accused …

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Supreme Court Clarifies VAT Zero-Rating Under the CREATE Act: Domestic Market Enterprises Are Entitled to Incentives

TAXATION, Legal Updates / By Admin GVES

In a landmark decision in The Subic Bay Freeport Chamber of Commerce, Inc. and Benjamin E. Antonio III v. Department of Finance, et al. (G.R. No. 266016, 4 February 2025), the Supreme Court struck down portions of the CREATE Act’s implementing rules and revenue issuances that attempted to limit VAT zero-rating exclusively to export enterprises. The Court …

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Understanding the Capital Markets Efficiency Promotion Act (CMEPA): An Overview of Investment Tax Reforms and Vetoed Items

TAXATION, Compliance, Corporate, Finance, Legal Updates / By Admin GVES

CMEPA at a Glance Area Before CMEPA After CMEPA Stock Transaction Tax (STT) 0.6% on sale of listed shares 0.1% flat rate on sale of listed shares Capital Gains Tax 15% on unlisted domestic shares only; foreign shares taxed up to 35% 15% flat rate on both unlisted domestic and foreign shares Interest Income Subject …

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Philippines Taxes Offshore Services: What your Business Needs to Know!

TAXATION, Announcements, blog, Compliance, Corporate, Finance, Legal Updates / By Admin GVES

On 10 January 2024, the Bureau of Internal Revenue (“BIR”) issued Revenue Memorandum Circular (“RMC”) No. 5-2024 which clarifies the tax treatment of cross-border services based on the case of Aces Philippines Cellular Satellite Corp. v. Commissioner of Internal Revenue, G.R. No. 22668, 30 August 2022. Aces Philippines Cellular Satellite Corporation (“Aces Philippines”) and Aces International …

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Supreme Court Affirms: Foreign Currency Deposits Exempt from Estate Tax

Legal Updates, Compliance, Corporate, TAX EXEMPTION, TAXATION / By Admin GVES

Tax exemptions, being in derogation of the State’s inherent power to tax, are strictly construed against the taxpayer. Thus, when one is upheld, it is not merely a legal triumph — it is a cause for celebration. In G.R. No. 262092 (October 9, 2024), the Supreme Court ruled that a foreign currency deposit — specifically an HSBC …

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