Signing of Protocol to DTA between Philippines and Italy

The Philippines Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 059-2026 on 2 June 2026, which provides supplementary guidance to clarify issues arising from the implementation of Revenue Regulations (RR) No. 003-2025

The Philippines Department of Finance (DOF), together with the Department of the Interior and Local Government (DILG) and the Department of Trade and Industry (DTI), has issued Joint Memorandum Circular (JMC) No. 01-2026, or the Guidelines on the

Italy's tax administration issued two critical rulings on 4 June 2026 dismissing attempts to minimise gift tax during generational corporate transfers. Both decisions reinforce a core principle: transferring shares to the next generation only

Italy's Revenue Agency has issued a clarification on 26 May 2026 confirming that pleasure boats transferred from outside the EU qualify for VAT exemption when imported by relocating residents, even when held through foreign corporate

The Philippine Securities and Exchange Commission (SEC) has issued SEC Memorandum Circular (MC) No. 16, series of 2026 (SEC MC 16-2026) on 13 May 2026, temporarily suspending the monthly delay penalties for late or non-filing of annual financial

Italy’s Revenue Agency has announced that the government has introduced Legislative Decree no. 89/2026, published on 25 May 2026, implementing comprehensive tax relief measures to ease the burden of rising fuel costs on citizens and businesses.