Tax Updates!

Photo from: Inquirer News

The BIR has issued the following Tax Advisories in relation to the implementation of TRAIN Law:

Revised checklist of mandatory requirements of claims for VAT refunds

For VAT refund applications filed from January 1 to March 31, 2018, a copy of the Certificate of Incorporation of the Non-Resident Foreign Corporation buyers of services shall be accepted as temporary compliance. Certified true copy must be submitted on or before April 30, 2018. Otherwise, it shall mean non-compliance with submission of complete documents.

Availability of BIR Form 1601EQ/Quarterly Remittance Return of Creditable Income Taxes Withheld & BIR Form 1601FQ/Quarterly Remittance Return of Final Income Taxes Withheld

New forms, due for submission on or before April 30, 2018, can now be downloaded from the following websites:



Likewise, Alphanumeric Tax Codes (ATC) and tax rates in the enhanced old form of Quarterly Percentage Tax Return/BIR Form 2551Q are also made available using version 7 of eBIRForms Package.