SyCipLaw’s Tax Department has listed down its Top 10 Tax Issues and Practical Solutions (T.I.P.S.) for 2024.
Please read the full text here or via this link.
SyCipLaw’s Top 10 Tax Issues and Practical Solutions (T.I.P.S.) for 2024 covers the following tax issues:
- What is Republic Act No. 11976 and why is it relevant to tax?
- Tax treatment for cross-border services
- Are cross-border services provided by non-resident foreign corporations now subject to income tax and VAT under Revenue Memorandum Circular No. 5-2024?
- Are all international service provisions or cross-border service agreements rendered by non-resident foreign corporations automatically subject to income tax and VAT pursuant to RMC No. 5-2024?
- Under the current VAT regulations, is input tax required to be directly attributable (or a factor in the production chain) to zero-rated sales, i.e., to come from purchases of goods and services that form part of the finished product of the zero-rated taxpayer in order to be creditable or refundable?
- May the Court of Tax Appeals review the Commissioner of Internal Revenue’s denial of a taxpayer’s offer of compromise?
- Does the EOPT Act modify the procedure for claiming tax credits or tax refunds?
- Is a taxpayer always required to make the “payment under protest” under Section 252 of the Local Government Code of 1991, as amended, to assail real property taxes?
- Does the irrevocability rule (with respect to a claim for refund of excess creditable withholding tax under Section 76 of the Tax Code) apply to a company that has permanently ceased operations but has not yet obtained a tax clearance?
- Does the period to appeal a decision of the Court of Tax Appeals commence from receipt of the decision by the Commissioner of Internal Revenue or the Office of the Solicitor General?
- When can a seller claim output VAT credit on uncollected receivables?
- What were the primary tax amendments introduced by CREATE MORE to the Tax Code?
