ProBiz Optimal Solutions Inc.

BIR Tax Deadline

11 Saturday
e-FILING of BIR Forms 1601-C (Monthly Remittance Return of Income Taxes Withheld on Compensation) and/or 0619-E (Monthly Remittance Form of Creditable Income Taxes Withheld-Expanded) and/or 0619-F (Monthly Remittance Form of Final Income Taxes Withheld) – eFPS Filers under Group E — Month of April 2024

"Deadlines which fall on Weekends, Holidays and Non-Working days shall automatically be moved to the next working day."

With the deadline fast approaching, the BIR is reminding taxpayers to file their 2024 1st Quarter Percentage Tax Return and pay the Tax Due thereon on or before April 25, 2024.

Revenue Regulations No. 7-2024

Implements Sections 113, 235, 236, 237, 238, 242, 243 of the NIRC of 1997, as amended by Republic Act No. 11976 (Ease of Paying Taxes Act), on the registration procedures and invoicing requirements. For full text, https://tinyurl.com/48ycc9ds

Revenue Memorandum Circular No. 53-2024

Informs taxpayers on the availability of the revised BIR Registration Forms relative to the implementation of Republic Act No. 11976 (Ease of Paying Taxes Act). For full text, https://tinyurl.com/yx42s5sd
BIR Form 1901: https://tinyurl.com/2zfkd92k
BIR Form 1903: https://tinyurl.com/pjr48ted
BIR Form 1904: https://tinyurl.com/4p9n64m4
BIR Form 1906: https://tinyurl.com/4frcyfn4

BIR Tax Deadline

5 Friday
SUBMISSION of Summary Report of Certification issued by the President of the National Home Mortgage Finance Corporation (NHMFC) — Month of March 2024
e-FILING/FILING & e-PAYMENT/PAYMENT of BIR Form 2000 (Monthly Documentary Stamp Tax Declaration/Return) — Month of March 2024
e-FILING/FILING & e-PAYMENT/PAYMENT of BIR Form 2000-OT (Documentary Stamp Tax Declaration/Return One-Time Transactions) — Month of March 2024

Revenue Memorandum Circular No. 36-2024

Clarifies the manner of computing the Minimum Corporate Income Tax (MCIT) for Taxable Year 2023. For full text, https://tinyurl.com/pxuw7vk6

BIR Tax Deadline

29 Thursday
e-FILING/FILING & e-PAYMENT/PAYMENT of BIR Form 1702Q (Quarterly Income Tax Return For Corporations, Partnerships and Other Non-Individual Taxpayers) and Summary Alphalist of Withholding Taxes (SAWT) - For the Quarter ending December 31, 2023

BIR Tax Deadline

30 Tuesday
SUBMISSION of Proof of e-Filed BIR Form 1702-RT/EX/MX with Audited Financial Statements (AFS), 1709 (if applicable), and Other Attachments through Electronic Audited Financial Statements (eAFS) or Manually - Fiscal Year ending September 30, 2023
SUBMISSION of Soft Copy of the Computerized Books of Accounts and Other Accounting Records - Calendar Year ending December 31, 2023
SUBMISSION of Soft Copies of Inventory List and Schedules stored and saved in DVD-R/USB properly labeled together with a Notarized Sworn Declaration - Calendar Year ending December 31, 2023
e-SUBMISSION of Quarterly Summary List of Sales/Purchases/Importations by a VAT Registered Taxpayers - eFPS Filers - For the Quarter ending December 31, 2023
ONLINE REGISTRATION (thru ORUS) of Computerized Books of Accounts and Other Accounting Records - Calendar Year ending December 31, 2023

Attention Business Taxpayers!

Payment of the ₱500 Annual Registration Fee (ARF) is no longer required effective January 22, 2024.

In compliance with Republic Act (RA) no. 11976 or the Ease Of Paying Taxes Act

Here is the data on how much PhilHealth premium contributions increased since the Universal Health Care bill was signed into law in 2019.

READ MORE: https://inqnews.net/PhilHealthContribution

This in connection with Ease of Paying Taxes program by BIR

Michael Lico

What is Online Registration and Update System (ORUS):

ORUS is an online Platform/Web-based application introduced by Bureau of Internal Revenue (BIR), streamlining process for registration of taxpayers as well as updating of their registration information.

Compliance with Laws and Regulatory Bodies is imperative to protect our business reputation. Ensure ethical business practices and avoid penalties.
Reminder to take our parts and help achieve Economic growth.

Latest BIR Issuances:

RMC No 69-2023

Memorandum pursuant to Sections 6, 7 and 13 of Republic Act No. 11534, otherwise known as “Corporate Incentives for Enterprises Act” (CREATE), as implemented by Revenue Regulations (RR) Nos. 4-2021, 5-2021 and 8-2021, and as clarified by Revenue Memorandum Circular (RMC) Nos. 65-2021 and 67-2021, effective July 1, 2023:

Bureau of Internal Revenue:

RMC No: 71-2023,

Provides streamlined guidelines and mandatory requirements for claims of Value-Added Tax (VAT) Credit/Refund except those under the authority and jurisdiction of the Legal Group

Bureau of Internal Revenue:

RMC No. 69-2023

Reverts the rates of Percentage Tax, Minimum Corporate Income Tax, and Regular Corporate Income Tax on proprietary educational institutions and not for profit hospitals, pursuant to RA No. 11534 (Corporate Recovery and Tax Incentives for Enterprises Act [CREATE])

Bureau of Internal Revenue:

RMC No. 68-2023

Further clarifies imported goods that will no longer require the issuance of “Authority to Release Imported Goods” by the BIR prior to the release by the Bureau of Customs

Bureau of Internal Revenue:

RR No. 6-2023

Amends certain provisions of RR No. 13-2010 regarding Late/Out-of-District filing of Tax Returns

(Published in Manila Bulletin on June 16, 2023)

Bureau of Internal Revenue Philippines (BIR) Commissioner Romeo D. Lumagui, Jr. issued Revenue Regulations No. 3 – 2023, amending certain provisions of existing revenue issuances pertaining to zero-rated value-added tax (VAT) transactions.

The amended provisions now state that local purchases of goods and local services such as janitorial, security, financial, consultancy, marketing and promotion, and services rendered for administrative operations such as HR, legal, and accounting, shall not be considered as "directly and exclusively used" in the registered project or activity of a registered export enterprise.

Read more: https://www.bir.gov.ph/images/bir_files/PR26MAY0323.pdf?fbclid=IwAR3NvttUPdUsbN4l4xIasctpZIqQ-I_2KfsdcbDhPskqJJRLCZDMVA0redo

To receive on-the-go updates on the Philippine economy, JOIN the DOF Viber community: https://vb.me/dofcommunity

VAT WISELY

See the latest update on the April 25 - VAT filing deadline of the Bureau of Internal Revenue: https://bit.ly/PR24APR2423