Oman, Philippines conclude income tax treaty negotiations
Oman and the Philippines concluded negotiations on an income tax treaty on 15 October 2026, according to a post by the Omani Embassy in the Philippines. The negotiations, held in Manila, aimed to strengthen tax and economic cooperation between
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Philippines: BIR clarifies tax deductions for shared senior drug discounts
The Philippines Bureau of Internal Revenue (BIR) has updated its tax rules on senior citizen discounts for the first time since 2010. The changes explain how pharmaceutical companies, distributors, and retailers can claim tax deductions when they
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Liechtenstein, Philippines sign income tax treaty
The Liechtenstein government announced that Liechtenstein and the Philippines signed an income tax treaty on 15 October 2026. The agreement aims to prevent double taxation and facilitate cross-border trade and investment. The income tax treaty
See MorePhilippines, Singapore finalise income tax treaty update
The Philippines and Singapore have completed negotiations on a modernised tax treaty on 25 September 2026, after four days of talks held in Singapore from 22 to 25 September 2026. The agreement replaces the original Double Taxation Agreement from
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Philippines: BIR issues rules for mandatory electronic invoicing
The Philippines' tax authority, the Bureau of Internal Revenue (BIR), has announced the issuance of Revenue Memorandum Circular No. 098-2026 on 22 September 2026, establishing the official framework for the issuance of electronic invoices in the
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EU, Philippines finalise free trade agreement
The European Commission and Philippines government reached an initial free trade agreement on 22 September 2026, ending more than a decade of stalled talks, according to an X post by European Commission President Ursula von der Leyen. The
See MorePhilippines: BIR clarifies VAT refund rules for export-oriented enterprises
The Philippines’ Bureau of Internal Revenue released Revenue Memorandum Circular (RMC) No. 96-2026 on 7 September 2026. BIR Commissioner Charlito Martin R. Mendoza issued the circular to provide guidance on how qualified Export-Oriented
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Philippines: DoF consults on ProGRESS tax reform bill incorporating global minimum tax
The Philippines Department of Finance (DoF) launched consultations on the ProGRESS Bill in Manila on 3 September 2026, gathering roughly 300 stakeholders from business, government, academics, civil society, and media to review the tax reform
See MorePhilippines ratifies income tax treaty with Cambodia
The Philippines ratified its income tax treaty with Cambodia, which was signed on 11 February 2025. The Philippine Senate approved the treaty through Resolution No. 628, following the President’s authorisation of its ratification on 5 June
See MorePhilippines launches EVIS programme with up to 40% investment support for EV manufacturers
The Philippines has introduced a new package of tax incentives for the electric vehicle sector under the Electric Vehicle Incentive Strategy (EVIS) Programme, approved through Executive Order No. 121. Executive Order No. 121 establishes the EVIS
See MorePhilippines: BIR opens one-time tax abatement program for micro taxpayers
Philippines Bureau of Internal Revenue (BIR) has opened a one-time tax abatement program for micro taxpayers on 26 June 2026, offering micro businesses and stop-filers an opportunity to resolve outstanding tax liabilities, clean up their records,
See MorePhilippines pursues 10 DTAs, advances Pillar Two implementation to boost investment
The Philippines is stepping up efforts to attract foreign investment by expanding its network of double taxation agreements and advancing legislation to implement the OECD's Pillar Two global minimum tax rules. According to a report published by
See MorePhilippines: BIR begins preparations for implementation of Pillar Two QDMTT
The Philippines Bureau of Internal Revenue (BIR) announced on 11 June 2026, through a Facebook post, that it has begun preparations for the possible implementation of the proposed Qualified Domestic Minimum Top-Up Tax (QDMTT), a measure pushed by
See MorePhilippines: BIR issues further VAT clarifications on digital services
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
See MorePhilippines: DoF clarifies local tax rules to improve business ease, support growth
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
See MorePhilippines: SEC halts monthly penalties on late AFS, GIS submissions
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
See MorePhilippines: BIR extends 2025 eAFS tax return attachment filing deadline
The Philippine Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular No. 046-2026, which outlines the extension of the deadline for submitting 2025 Audited Financial Statements (AFS) and related attachments via the Electronic
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Philippines: BIR clarifies tax treatment of cross-border services
The Bureau of Internal Revenue (BIR) of the Philippines issued Revenue Memorandum Circular (RMC) No. 24-2026 on 30 March 2026 to clarify the application of RMC Nos. 5-2024 and 38-2024 on the taxation of cross-border services. The circular aligns
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