23 August 2021 – Philippine Intellectual Property Office (IPOPHL) Memorandum Circular No. 2021-020: Advisory on IPOPHL Services During the Modified Enhances Community Quarantine
The IPOPHL advises the public that there will be no extension of deadlines throughout the duration of the Modified Enhanced Community Quarantine which was imposed on 21 August 2021 and is expected to be lifted on 31 August 2021. IPOPHL Memorandum Circular No. 2021-020
Read MoreDepartment of Environment and Natural Resources issues Department Administrative Order No. 2026-21 on the Establishment, Harvesting and Transport of Bamboo
The Department of Environment and Natural Resources (“DENR”) has issued Department Administrative Order No. (“DAO”) 2021-26, providing the rules and regulations governing the establishment, harvesting, and transport of bamboo. DAO 2021-26 aims to encourage the establishment of bamboo plantations and to promote the sustainable use of bamboo-based industries in the Philippines, specifically: a. increase the
Read MoreBIR Reminds YouTubers and Other Social Media Influencers to Pay Their Taxes
The Bureau of Internal Revenue (“BIR”) has issued Revenue Memorandum Circular (“RMC”) No. 97-2021 to clarify the tax obligations of social media influencers, and to remind them of their obligations to pay taxes and comply with registration and reportorial requirements, and the possible consequences for non-compliance. The concerned BIR officers were also directed to conduct
Read MoreBIR defers the Implementation of the New VAT Rules on the Local Purchases of Exporters and Registered Business Enterprises
The Bureau of Internal Revenue (“BIR”) has issued Revenue Regulations (“RR”) No. 15-2021 deferring the implementation of RR No. 9-2021 in view of the COVID-19 pandemic and its impact on the export industry. RR No. 9-2021 was issued to implement the imposition of 12% Value-Added Tax (“VAT”) on certain transactions previously taxed at zero
Read MoreBIR Clarifies Imposition/Computation of Donor’s Tax on Renunciation of Inheritance
The Bureau of Internal Revenue (“BIR”) has issued Revenue Memorandum Circular (“RMC”) No. 94-2021 clarifying that a general renunciation by an heir of his share from the inheritance is not subject to donor’s tax. However, in the case of a partial renunciation of inheritance, donor’s tax shall be imposed on the value foregone as a
Read More