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Bureau Of Internal Revenue Publish New Revenue Memorandum Circulars
The Philippines Bureau of Internal Revenue (BIR) has issued two Revenue Memorandum Circulars, 15-2011 and 17-2011. Taxand Philippines reviews the details:
- RMC No. 15-2011 revokes BIR Ruling No. DA-563-2006 dated 19 September 2006 following the CTA EB Case No. 287 dated 14 January 2008
- RMC No. 17-2011 proposes the use of a basic standard format to guide one in complying with the requirements of revenue regulations.
It is imperative that organisations affected by such guidance are thoroughly briefed and aware of the updated regulations to ensure the smooth running of operations.
Your Taxand contact for further queries is:
Serafin U. Salvador, Jr.
T. +63 2 8112500