BIR to check on companies’ year-end inventories
Here’s one last attempt of the Bureau of Internal Revenue (BIR) to catch up of companies trying to pull a fast one on the revenue agency.
BIR field personnel will be going out and check the warehouses of companies to verify their year-inventories viz-a-viz their submitted year-end declaration.
Revenue Memorandum Order No. 40-2009 was issued by BIR [...]
December 28, 2009
Tags: BIR, businesses, entrepreneur, Government, Philippines, taxes Posted in: Announcement, Corporations, Government, Law, Philippine business news, Philippines, Pricing, Products, Taxation, economy, finance, money 
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Pilipinas Shell gets P22 M tax refund
Pilipinas Shell Petroleum Corp. will be getting P22 million in tax refund. That is because the Court of Appeals (CA) upheld the decision of the Court of Tax Appeals (CTA) to compel the Bureau of Internal Revenue (BIR) to refund or issue a tax credit certificate worth more than P22 million to Pilipinas Shell.
According to [...]
September 22, 2009
Tags: BIR, Court of Appeals, Court of Tax Appeals, documentary stamp tax, Philippines, Pilipinas Shell, tax credit certificate, tax refund, taxes Posted in: Announcement, Corporations, Government, Law, Philippine business news, Philippines, Taxation, money No Comments
BSP declared ‘not a bank’ and exempted from GRT
A memorandum from the Bureau of Internal Revenue has declared the Bangko Sentral ng Pilipinas (BSP) not a bank and therefore exempted from GRT or gross receipt tax.
The Revenue Memorandum Circular 65-2008, which states that BSP is exempted from GRT and some other taxes was signed by former BIR commissioner Lilian B. Hefti. It was [...]
July 13, 2009
Tags: bank, banking, BIR, BSP, credit, finance, GRT, money, Philippines, tax exemption Posted in: money No Comments
