Bureau of Internal Revenue (BIR)

REVENUE REGULATIONS NO. 1-2012 issued on February 20, 2012 requires the mandatory submission of Quarterly Summary List of Sales and Purchases (SLSP) by all Value-Added Tax (VAT) registered taxpayers, thereby amending Section 4.114-3 of Revenue Regulations (RR) No. 16 -2005, as amended, otherwise known as the Consolidated Value-Added Tax Regulations of 2005.

REVENUE REGULATIONS NO. 4-2012 issued on March 28, 2012 amends Revenue Section 2.6 of Revenue Regulations No. 13-2011 by deleting Section 2.6.1 thereof, which provides that penalties and/or interest imposed on the taxpayer may be abated or cancelled on the ground of one day late filing and remittance due to failure to beat the bank cut-off time.

REVENUE REGULATIONS NO. 7-2012 issued on April 2, 2012 amends the consolidated Revenue Regulations on primary registration, updates and cancellation, particularly on the following:

a. Registration, updates and cancellation procedures;

b. Venue, Forms & Documentary Requirements;

c. Annual Registration Fee;

d. Certification Fee; and

e. Penalties for registration-related violations.

REVENUE REGULATIONS NO. 8-2012 issued on May 11, 2012 further amends Revenue Regulations (RR) No. 2-98, as last amended by RR Nos. 5-2008 and 5-2011, relative to the “De Minimis Benefit,” uniform and clothing allowance not exceeding P 5,000 per annum, which is exempt from Income Tax on compensation as well as from fringe benefit tax.

REVENUE REGULATIONS NO. 11-2012 issued on August 17, 2012 amends certain provisions of RR No. 1-2011 dated February 24, 2011 relative to the documentation of remittances made by Overseas Contract Worker or Overseas Filipino Worker and other matters.

REVENUE MEMORANDUM CIRCULAR NO. 11-2012 issued on March 22, 2012 clarifies the tax consequences of Power Sector Assets and Liabilities Management Corporation (PSALM) transactions.

REVENUE MEMORANDUM CIRCULAR NO. 12-2012 issued on March 27, 2012 circularizes the full text of the Cooperative Development Authority’s (CDA) memorandum to all the Regional Directors instructing them to refrain from issuing certificates of registration to cooperatives not specifically identified under Republic Act 9520, such as labor contracting, professional, construction, mining and other cooperatives similarly created, and to conduct inspection/examination and/or investigation to verify complaints that the said cooperatives were used as tax shields.

REVENUE MEMORANDUM CIRCULAR NO. 38-2012 issued on August 6, 2012 provides question and answers to further clarify the provisions of Revenue Regulations (RR) 7-2010, as amended by RR 8-2010, implementing the tax privileges provisions of R.A. 9994, otherwise known as “Expanded Senior Citizens Act ofn2010”.

REVENUE MEMORANDUM CIRCULAR NO. 57-2012 issued on September 20, 2012 publishes the full text of Memorandum Circular No. 2012-08 of the Cooperative Development Authority in relation to the provisions of the temporary recall of the delegated function to register selected types of primary cooperatives.

REVENUE MEMORANDUM CIRCULAR NO. 59-2012 issued on October 1, 2012 publishes the matrix of latest wage rates per region provided by the National Wages and Productivity Commission, Department of Labor and Employment.

REVENUE MEMORANDUM ORDER NO. 13-2012 issued on May 16, 2012 prescribes the revised guidelines and procedures in handling Letter Notices (LNs) generated through Third-Party Information (TPI) data matching with tax returns.

The Order covers the Income, Value-Added and/or Percentage Tax liabilities of individual and corporate taxpayers who are issued LNs based on the Reconciliation of Listing for Enforcement System (RELIEF), Bureau of Customs (BOC) and Tax Reconciliation System (TRS) TPI data matching programs.

REVENUE MEMORANDUM ORDER NO. 19-2012 issued on August 31, 2012 prescribes the policies and procedures in the Value-Added Tax (VAT) Audit Program for Large Taxpayers Service (LTS).