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Bureau Of Internal Revenue Publish Circular On Income Tax Exemption
The Bureau of Internal Revenue has recently issued Revenue Memorandum Circular No. 18-2011. Taxand Philippines looks at the circular in detail.
The Circular clarifies the income tax exemption of interest income earnings from long term deposits or investment certificates.
It is important that taxpayers are familiar with the Circular Act and seek the necessary advice to ensure they are fully compliant.
Your Taxand contact for further queries is:
Serafin U. Salvador, Jr.
T. +63 2 8112500
The Circular can be read in full here