Atty. Julius Cesar Mortejo Salarza

25/03/2025

07/01/2024

𝐑.𝐀. 𝐍𝐨. 𝟏𝟏𝟗𝟕𝟔
𝐄𝐚𝐬𝐞 𝐨𝐟 𝐏𝐚𝐲𝐢𝐧𝐠 𝐓𝐚𝐱𝐞𝐬 𝐀𝐜𝐭 (𝐄𝐎𝐏𝐓𝐀)

The 1st major tax legislation for the year is finally signed and published. Here are the relevant changes noted in the new law:

1. New classification of taxpayers as micro, small, medium, and large.
2. Removal of the P500 annual registration fee.
3. Able to file and pay your taxes anywhere without penalty.
4. Adoption of the accrual method for VAT and percentage tax on the sale of services.
5. Removal of the Official Receipt.
6. Removal of "business style".
7. Removal of the Minimum Quarterly Gross Receipts for common carrier's tax.
8. Granted special concession for micro and small taxpayers in determining the amount of penalties.

"The law's implementing rules and regulations (IRR) shall be promulgated 90 days from the Act's effectivity after the Finance Secretary's consultation with the Bureau of Internal Revenue (BIR) and the private sector.

RA No. 11976 takes effect 15 days after its publication in the Official Gazette or a newspaper of general circulation."

President Marcos has signed Republic Act (RA) No. 11976, or the Ease of Paying Taxes Act, to boost the economy and safeguard taxpayer rights while improving revenue collection through digitalization initiatives.

READ: https://mb.com.ph/2024/1/7/marcos-signs-into-law-ease-of-paying-taxes-act

01/11/2023

Avoid the Rush!

With the deadline fast approaching, the BIR is reminding corporate taxpayers to file their 2023 3rd Quarter Income Tax Return and pay the Tax Due thereon on or before November 29, 2023.

10/08/2023

5 DAYS LEFT!

With the deadline fast approaching, the BIR is reminding individual taxpayers to file their 2023 2nd Quarter Income Tax Return and pay the Tax Due thereon on or before August 15, 2023.

10/08/2023

09/08/2023