ACPAPP Tax Bulletin
ACPAPP Tax Bulletin No. 03-2023 I July 14, 2023
Factors affecting arm’s length price or profit
The main objective of a benchmarking analysis in a Transfer Pricing Documentation (TPD) is to determine the arm’s length range of price or return.
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BIR Form Nos. 1604-C, 1604-E, 1604-F and 0620 now available in eFPS
This Tax Alert is issued to inform all concerned on the availability of BIR Form Nos. 1604-C, 1604-E, 1604-F and 0620 in the electronic filing and payment system (eFPS).
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Procedures in the processing of taxpayer’s request for stamping of electronically-filed ITRs
This Tax Alert is issued to inform all concerned on the procedures in the processing of taxpayer’s request for stamping of electronically filed income tax returns (ITRs) filed through eBIRForms.
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Clarifications on the entitlement of economic zone developers and operators to VAT zero-rating
This Tax Alert is issued to inform all concerned on the clarifications on the entitlement of economic zone developers and operators to the value added tax (VAT) zero-rating on their local purchases of goods and services directly and exclusively used in registered project or activity under the CREATE Law.
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This Tax Alert is issued to reiterate the proper timing of remittance of withholding taxes by National Government Agencies (NGAs) and instrumentalities, Local Government Units (LGUs), and Government Owned and Controlled Corporations (GOCCs).
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Updated policies on filing of appeal against Final Decision on Disputed Assessments (FDDA)
This Tax Alert is issued to provide the updated policies on the filing of appeal against Final Decision on Disputed Assessments (FDDA) pursuant to Revenue Regulations (RR) No. 12-99, as amended.
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List of additional and delisted Top Withholding Agents on June 22, 2023
This Tax Alert is issued to inform all concerned on the latest published lists of additional and delisted Top Withholding Agents (TWAs) who are required to deduct and remit the one percent (1%) or two percent (2%) Creditable Withholding Tax (CWT) from the income payments to regular suppliers of goods and services, respectively.
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This Tax Alert is issued to inform all concerned on the reversion of the reduced rates of Regular Corporate Income Tax (RCIT) of proprietary educations institutions and non-profit hospitals, Percentage Tax (PT), and Minimum Corporate Income Tax (MCIT) to original rates, pursuant to Republic Act (RA) No. 11534, or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.
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This Tax Alert is issued to inform all concerned on the new BIR Notice, “Notice to Issue Receipt/Invoice” (NIRI) which replaces the display of Ask for Receipt Notice by the BIR to be displayed in an area conspicuous to the public at the place of business of the seller.
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Contacts
Should you have any comments or questions arising from this publication,
please contact ACPAPP Secretariat.
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ACPAPP is a united professional organization of CPAs in public practice that promotes professional excellence and ethical practice towards providing relevant services to the business world.
This communication contains general information only.
