April 2013 Tax bulletin

Transkript

1 April 2013 Tax bulletin 1

2 Highlights BIR Rulings (Page 5) (Page 5) (Page 6) (Page 6) (Page 7) (Page 8) BIR Issuances (Page 8) (Page 10) 2 Tax Bulletin

3 (Page 11) (Page 14) (Page 15) (Page 22) (Page 23) (Page 24) (Page 24) Subpoenaes Duces Tecum (Page 25) (Page 29) BOC Issuance (Page 29) BOI Issuance (Page 30) 3

4 SEC Issuance (Page 31) BSP Issuances (Page 31) (Page 32) (Page 32) (Page 34) Court Decisions (Page 35) (Page 38) (Page 40) 4 Tax Bulletin

5 BIR Rulings BIR Ruling No dated March 05, 2013 Facts: Issues: Rulings: BIR Ruling No dated March 5, 2013 Facts: Issue: Ruling: 5

6 BIR Ruling No dated March 18, 2013 Facts: Issue: Ruling: BIR Ruling No dated March 20, 2013 Facts: Issues: 6 Tax Bulletin

7 Rulings: BIR Ruling No dated March 22, 2013 Facts: Issues: Rulings: 7

8 BIR Ruling No dated March 22, 2013 Facts: Issue: Ruling: BIR Issuances Revenue Regulations No dated March 21, Tax Bulletin

9 9

10 [Editor s Note: RR No was published in the on April 24, 2013.] Revenue Regulations No dated April 11, Tax Bulletin

11 Book value per AFS MV per tax declaration Zonal valuation Independent appraiser Highest of the three Adjustment [Editor s Note: RR No was published in the on April 24, 2013] Revenue Regulations No dated April 29, 2013 [*Editor s Note: See page 15 for RMC No ] 11

12 Mandatory Requirement May 10, 2013 Scope of Abatement May 15, 2013 May 15, 2013 May 15, Tax Bulletin

13 13 Procedures

14 May 31, 2013 Technical Working Committee [Editor s Note: RR No was published in both the and on May 1, 2013.] Revenue Memorandum Circular No dated April 1, Tax Bulletin

15 Revenue Memorandum Circular No dated April 12, 2013 Tax Treatment of Compensation Income Those employed by foreign embassies/diplomatic missions Those employed by aid agencies of foreign governments Japan International Cooperation Agency (JICA) Deutsche Gessellschaft für Internationale Zusammenarbeit (GIZ) 15

16 Australian Agency for International Development (AUSAID) Canadian International Development Agency (CIDA) Advisory Committee on Voluntary Foreign Aid (USA) Cooperative for American Relief Everywhere (CARE) Foster Parents Plan International, Inc (FPPI or PLAN) Aid agencies and other organizations exempt under Philippine laws Ford Foundation, Rockefeller Foundation, Agricultural Development Council, Inc. and Asia Foundation 16 Tax Bulletin

17 International Institute of Rural Reconstruction (IIRR) Catholic Relief Services NCWC and Tools for Freedom Foundation Those employed by the United Nations (UN) and its specialized agencies UN Specialized Agencies of the UN 17

18 FAO IMF WHO United Nations International Children s Emergency Fund (UNICEF) United Nations Development Programme (UNDP) United Nations Population Fund (UNFPA) 18 Tax Bulletin

19 International Committee of the Red Cross (ICRC) International Finance Corporation (IFC) Those employed by organizations covered by separate international agreements Asian Development Bank (ADB) ASEAN Centre for Biodiversity (ACB) International Rice Research Institute (IRRI) Southeast Asian Regional Center for Graduate Study and Research in Agriculture (SEARCA) Southeast Asian Ministers for Education Organization (SEAMEO) 19

20 Southeast Asian Fisheries Development Center Aquaculture Department (SEAFDEC) International Organization for Migration (IOM) International Seabed Authority (ISBA) Partnerships in Environmental Management for the Seas of East Asia (PEMSEA) Press Foundation of Asia, Inc, (PFA) International Development Law Institute (IDLI) World Organization of Scout Movement (WOSM) 20 Tax Bulletin

21 International Center for Living Aquatic Resources Management (ICLARM) Colombo Plan Staff College (CPSC) Employees of other aid agencies of international organizations Filing of Income Tax Returns and Declaration of Compensation Income Consequences of Non-Filing and/or Non-Payment of Tax Returns by Covered Individuals 21

22 Revenue Memorandum Circular No dated April 17, 2013 Income Tax 22 Tax Bulletin

23 Franchise Tax Revenue Memorandum Circular No dated April 22,

24 Responsibilities of the RDO and Document Processing Division (DPD) Revenue Memorandum Circular No dated April 25, 2013 [Editor s Note: RMC No is unpublished as of May 9, 2013.] Revenue Memorandum Order No dated March 12, Tax Bulletin

25 Subpoenaes Duces Tecum Revenue Memorandum Order No dated April 17, 2013 Subpoena Duces Tecum Bangko Sentral ng Pilipinas 25

26 26 Tax Bulletin

27 27 known address

28 28 Tax Bulletin

29 Revenue Memorandum Order No dated April 22, 2013 BOC Issuance Customs Administrative Order No dated April 11, 2013 I. Basic Storage Rate A. General cargo B. Special cargo 29

30 II. Service Charge From To III. Ancillary Charges A. Backdoor release B. Deconsolidation fee C. Returned shipment fee [Editor s Note: CAO No was published in the on April 25, 2013.] BOI Issuance BOI Regulation No dated March 05, Tax Bulletin

31 SEC Issuance SEC Memorandum Circular No. 6 dated April 23, second BSP Issuances BSP Circular No. 791 dated April 3, 2013 [Editor s Note: Circular No. 791 was published in the on April 9, 2013.] 31

32 BSP Circular No. 793 dated April 8, 2013 [Editor s Note: Circular No. 793 was published in on April 15, 2013.] BSP Circular No. 794 dated April 18, Tax Bulletin

33 [Editor s Note: Circular No. 794 was published in on April 23, 2013.] 33

34 BSP Circular No. 795 dated April 18, 2013 Payment Due Dates Deadline for Filing 34 Tax Bulletin

35 Reports Deadline [Editor s Note: Circular No. 795 was published in the on April 22, 2013.] Court Decisions Mindanao II Geothermal Partnership vs. Commissioner of Internal Revenue (G.R. No ), and Mindanao I Geothermal Partnership vs. CIR (G.R. No ) Facts: CIR vs. Aichi Forging Company of Asia, Inc. Issues: 35

36 Rulings: period: period: Aichi Forging However, BIR Ruling No. DA dated December 10, 2003 Aichi Forging Aichi Forging 36 Tax Bulletin

37 37 periods: Aichi Forging

38 Goodyear Philippines, Inc. vs. Commissioner of Internal Revenue Facts: Issues: Rulings: , the Consolidated Regulations Prescribing the Rules on the Taxation of Sale, Barter, Exchange or Other Disposition of Shares of Stock Held as Capital Assets. 38 Tax Bulletin

39 per se 39

40 I-Remit, Inc. vs. Commissioner of Internal Revenue Facts: Issue: 40 Tax Bulletin

41 Ruling: everythrough initial public offering 41

42 SyCip Gorres Velayo & Co Tax Bulletin