Category: eBook
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Employee Benefits Just Changed: What RR No. 29-2025 Means for Employers
The Bureau of Internal Revenue (BIR) has issued Revenue Regulations (RR) No. 29-2025, further amending the rules on de minimis benefits. This update increases the ceilings for certain non-taxable employee benefits, giving employers more flexibility to provide allowances and perks without triggering income tax or fringe benefit tax, when properly structured. Below is a practical
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An Economic Overview of the Philippines Post-COVID-19
As the Philippines continues to navigate the effects of the COVID-19 pandemic, recent economic indicators suggest a mixed, and at times contradictory, picture of the country’s financial health. While the Philippine Stock Exchange Index (PSEi) remained resilient around the 6,297.78 level during this period, key economic fundamentals paint a less optimistic story. The Employment Crisis
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Good News: No More Mayor’s Permit Needed for BIR Registration!
Revenue Memorandum Circular (RMC) No. 57-2020 In line with the BIR Citizen’s Charter and efforts to streamline business processes, the Bureau of Internal Revenue has removed the Mayor’s Permit as a mandatory requirement when registering a new business in the Philippines. This move supports the government’s initiative to improve the ease of doing business in
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Know Your Rights: How the BIR Should Properly Serve Tax Notices
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Order (RMO) No. 40-2019, which sets clear procedures for the proper service of assessment notices, in accordance with Section 3.1.6 of Revenue Regulations No. 18-2013. This RMO aims to ensure due process in delivering the following BIR notices: How Does This Affect Taxpayers? According to
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Planning to Work in the Philippines as a Foreign National? Here’s What You Need to Know
If you’re a foreign national looking to work in the Philippines, it’s essential to be aware of the updated requirements and permits that govern foreign employment in the country. Key Work Permits for Foreign Nationals: Important Tax Compliance Notice The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Order No. 28-2019 to outline the policies
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