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SyCipLaw’s Tax Department has prepared Tax Issues and Practical Solutions (T.I.P.S.) for February which covers the following tax issues:
- Are payments made to a nonresident foreign corporation for satellite services delivered in the Philippines taxable in the Philippines?
- In a claim for refund of excess input Value-Added Tax (“VAT”) attributable to zero-rated sales, is a taxpayer required to first deduct the input tax against output tax first, and ask for a refund of only the excess?
- Is an issuer of Philippine Depositary Receipts (“PDRs”) automatically considered a dealer in securities?
- Is an entity which entered into a Junket Agreement with Philippine Amusement and Gaming Corporation (“PAGCOR”) under Presidential Decree (“PD”) No. 1869 or the PAGCOR charter liable to pay income tax on its income from junket operations, in addition to the 5% franchise tax?
- Beginning January 1, 2023, are VAT-registered taxpayers still required to file both monthly (2550M) and quarterly (2550Q) VAT returns?
- Is an Ecozone Logistics Service Enterprise covered under the 2022 Strategic Investment Priority Plan?
- What are the salient points of FIRB Administrative Order No. 1-2023?
- Can the BIR collect personal information of individuals from third-party sources for tax compliance purposes?
For further information, please contact:
Carina C. Laforteza, SyCip Salazar Hernandez & Gatmaitan
cclaforteza@syciplaw.com
