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BIR iSSUANCES

Income Tax

Minimum Corporate Income Tax (MCIT)

SUBJECT:

Clarifying Items That Would Constitute Gross Receipts and Costs in Determining “Gross Income” on Services for the Purpose of Computing the Minimum Corporate Income Tax (MCIT) Pursuant to Sections 27(E) and 28(A)(2) of the National Internal Revenue Code of 1997.

Date of Issuance: 31 December 2002

SUBJECT:

Clarifying the Scope of the Term “Direct Costs and Expenses” that Should Comprise the “Cost of Services” for Purposes of Computing the Gross Income Subject to the 2% Minimum Corporate Income Tax (MCIT) Under Section 27(E) and Section 28(A)(2) of the 1997 National Internal Revenue Code, as Amended.

Date of Issuance: 18 March 2008

SUBJECT:

Amending Certain Portions of Revenue Memorandum Circular No. 30-2008 on the Subject of the Taxability of Insurance Companies for Minimum Corporate Income Tax (MCIT), Business Tax and Documentary Stamp Tax Purposes

Date of Issuance: 23 August 2008

SUBJECT:

Further Amending Certain Portions of Revenue Memorandum Circular No. 30-2008, as amended by Revenue Memorandum Circular No. 59-2008, on the Subject of the Taxability of Insurance Companies for Minimum Corporate Income Tax (MCIT), Business Tax and Documentary Stamp Tax Purposes

Date of Issuance: 3 June 2010

Exempt Corporations

SUBJECT:

Tax Exemptions of Non-Stock, Non-Profit Corporations Section 30, Tax Code of 1997 and Non-stock, Non-Profit Educational Institutions under Paragraph 3, Section 4, Article XIV of the Constitution

Date of Issuance: 14 November 2003

Income Taxation of Individuals

SUBJECT:

Clarifying the Meaning of the Term “Managerial and Technical Positions” under Section 25(C) of the Tax Code of 1997, as Amended, and for Toher Purposes.

Date of Issuance: 23 July 2009

SUBJECT:

Provides Basic Questions and Answers to Clarify on the Increase in the Statutory Minimum Wage and Other Concerns in Relation to the Income Tax Exemption Given To Minimum Wage Earner under Republic Act (RA) No. 9504, as implemented by Revenue Regulations No. 10-2008

Date of Issuance: 2 December 2010

Allowable Deductions

SUBJECT:

Publishing the Full Text of Executive Order No. 671 dated October 22, 2007, “Designating Entities that will Certify and Accredit Charitable Organization as Donee-Institutions Relative to the Deductibility of the Tax Reform Act Of 1997.

Date of Issuance: 7 December 2007

SUBJECT:

Clarifying the Allowable Claims for Personal and Additional Exemptions and Optional Standard Deduction (OSD) Pursuant to Revenue Regulations Nos. 10-2008 and 16-2008, Respectively.

Date of Issuance: 22 April 2009

SUBJECT:

Disclosure of election to use the Optional Standard Deduction for taxable year 2009.

Date of Issuance: 26 February 2010

SUBJECT:

Publishing the full text of Republic Act No. 9999 entitled “An Act Providing a Mechanism for Free Legal Assistance and For Other Purposes”

Date of Issuance: 8 March 2010

SUBJECT:

Circularizing Section 14 of Republic Act No. 10028, An Act Expanding the Promotion of Breastfeeding, Amending For the Purpose Republic Act No. 7600, otherwise known as “An Act Providing Incentives to All Government and Private Health Institutions with Rooming-In and Breastfeeding Practices, and For Other Purposes” 

Date of Issuance: 2 June 2010

Accounting Methods

SUBJECT:

Supplement to Revenue Memorandum Circular No. 44-2002 on Accounting Methods to be Used by Taxpayers for Internal Revenue Tax Purposes.

Date of Issuance: 12 April 2004

Deposit Substitutes

SUBJECT:

Clarifying the Instruments Embraced by the Term “Deposit Substitutes” under Revenue Regulations No. 8-2008.

Date of Issuance: 9 February 2009

Transfer Pricing

SUBJECT:

Interim Transfer Pricing Guidelines

Date of Issuance: 24 March 2008

Capital Gains Tax (Shares of Stocks and Real Property)

SUBJECT:

Clarifying the Venue for Payment of Capital Gains Tax/Creditable Expanded Withholding Tax and Corresponding Documentary Stamp Tax Relative to the Sale of Real Properties by Insurance Companies

Date of Issuance:  22 August 2003

SUBJECT:

Treatment of foreclosure sales initiated by the Department of Agrarian Reform

SUBJECT:

Re-issuing the Guidelines on the Proper Treatment of Block Sale of Shares of Stock Disposed of in the Stock Exchange

Date of Issuance:  12 November 2007

SUBJECT:

Clarifying the Time Within Which to Reckon the Redemption Period on the Foreclosed Asset and the Period Within Which to Pay Capital Gains Tax or Creditable Withholding Tax and Documentary Stamp Tax on the Foreclosure of Real Estate Mortgage by Those Governed by the General Banking Law of 2000 (Republic Act No. 8791), as Well as the Venue for the Payment of These Taxes  

Date of Issuance:  15 August 2008

Treatment of Certain Income Payments

SUBJECT:

Classification of Payments for Software for Income Tax Purposes

Date of Issuance:  18 November 2003

Income Tax Returns

SUBJECT:

Attachment to the Annual Income Tax Return to be Filed for Taxable Year 2006 and Onwards.

Date of Issuance: 5 March 2007

SUBJECT:

Deadline of Corporate Taxpayers for the Filing of the 2nd Quarter Income Tax Return, Clarification on the Procedure in the Filing of Tax Returns, and Enunciating Revised Rules on Remittance of Collection and Submission of Collection Reports by Accredited Collection Agents.

Date of Issuance: 12 August 2008

SUBJECT:

Acceptance of Out-of-District Income Tax Returns.

Date of Issuance: 12 April 2010

SUBJECT:

Securing of certified true copies of Income Tax Returns and audited financial statements

Date of Issuance: 21 April 2010

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