Philippines: Tax TIPS - Vol. 30

Published on Mar 31, 2024

SyCipLaw's Tax Department has prepared Tax Issues and Practical Solutions (T.I.P.S.) for November-December.

The November-December 2023 issue covers the following tax issues:

1. What are the remedies available to a taxpayer in case of inaction by the Commissioner of Internal Revenue ("CIR") on its protest filed against an assessment?

2. To whom may the Notice for Informal Conference ("NIC"), the Preliminary Assessment Notice ("PAN"), and the Formal Letter of Demand and Assessment Notice ("FLD/FAN") be personally served?

3. May the Commissioner on Internal Revenue ("CIR") apply the extraordinary 10-year assessment period on the basis of false returns in general, i.e., regardless of whether the falsity is intentional or not?

4. Does a taxpayer/importer have the option of waiting for a decision of the Commissioner of Customs to decide an appeal of a decision rendered by a District Collector?

5. Is a security guard, who is stationed in the taxpayer's registered address, duly authorized to receive notices from the Bureau of Internal Revenue on the taxpayer's behalf?

6. Are joint ventures/consortiums required to pay creditable withholding tax on their income payments?

7. Are there new rules for applications for Letters of Authority ("LOA") for local sales by PEZA Registered Export Enterprises ("REEs")?

8. What are the requisites and documentary requirements for Board of Investments ("BOI") REE to be eligible for VAT zero-rating on local purchases?

Please read the full text here or via this link.