Philippines: 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
See MorePhilippines: SEC extends 2025 annual financial statements filing deadlines
The Philippine Securities and Exchange Commission (SEC) extended the filing deadlines for 2025 annual financial statements (AFS) and related corporate reports on 14 April 2026. This extension aligns with a simultaneous announcement by the Bureau
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Philippines removes excise tax on LPG, kerosene under energy emergency powers
President Ferdinand R. Marcos Jr. has removed the excise tax levied on liquefied petroleum gas (LPG) and kerosene, which took effect on 13 April 2026, as part of government measures to provide relief to Filipino households amid an ongoing energy
See MorePhilippines: BIR clarifies bank acceptance rules for 2025 tax returns, payments
The Philippines Bureau of Internal Revenue (BIR) has issued Bank Bulletin No. 2026-04 on 7 April 7, 2026, which reiterates the procedures for Authorised Agent Banks (AABs) to follow regarding the 2025 Calendar Year Annual Income Tax Returns
See MorePhilippines: President approves law allowing temporary fuel excise tax adjustments
The Philippine Information Agency announced that on 25 March 2026, President Ferdinand Marcos Jr. signed Republic Act No. 12316, authorising the temporary suspension or reduction of excise taxes on petroleum products under specified conditions. The
See MorePhilippines: Senate considers automatic VAT, excise tax suspension on fuel during price hikes
The Philippine Senate is considering Senate Bill No. 1935, which was first read on 9 March 2026, proposing an automatic suspension of fuel taxes when global oil prices surge beyond a specific threshold. The bill establishes a clear trigger for
See MorePhilippines: Senate to reduce VAT rate
The Philippine Senate is reviewing draft Bill No. SBN-1916, known as the VAT Reduction Act, was introduced on 26 February 2026. The VAT Reduction Act proposes lowering the Value-Added Tax (VAT) in the Philippines from 12% to 10% to align with the
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