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What is RR in BIR?

Revenue Regulations (RR) are issuances signed by the Secretary of Finance, upon recommendation of the Commissioner of Internal Revenue, that specify, prescribe or define rules and regulations for the effective enforcement of the provisions of the National Internal Revenue Code (NIRC) and related statutes.

What is Revenue Regulation 9 2021 all about?

RR No. 9-2021 was issued pursuant to the provisions of Republic Act (RA) No. 10963 or the Tax Reform and Acceleration and Inclusion Act (TRAIN), which provide that certain transactions previously considered zero-rated shall be subject to 12 percent VAT.

Is BIR a regulator?

The BIR is the national government regulatory agency that regulates finance, taxation, and monetary policy in the Philippines. It collects internal revenue taxes, fees and charges, and enforces all forfeitures, penalties, and fines connected with tax matters for the Philippine government.

Who are large taxpayers BIR?

Large Taxpayer is a taxpayer who has been classified as such in accordance with the criteria under Revenue Regulations No. 1-1998 (RR No. 1-98), and has been duly notified by the Commissioner of Internal Revenue (BIR).

Are issuances that publish pertinent?

Revenue Memorandum Circulars (RMCs) are issuances that publish pertinent and applicable portions, as well as amplifications, of laws, rules, regulations and precedents issued by the BIR and other agencies/offices.

Is BIR filing extended?

In this regard, the BIR issued Revenue Memorandum Circular (RMC) No. 91-2021 extending the deadline of filing and payment of corresponding taxes falling within the period from August 6 to August 20, 2021, for taxpayers under ECQ and MECQ for a period of 15 calendar days from August 20, 2021.

Is BIR Form 2306 still applicable?

BIR Form No. 2306 (Certificate of Final Tax Withheld at Source) shall no longer be issued for this purpose. The BIR Form 2307 shall be used by the VAT taxpayers as proof of claiming VAT credit in monthly and quarterly VAT declarations.

What is RA 10963 train law?

Duterte signed into law Package 1 of the Comprehensive Tax Reform Program (CTRP) also known as the Tax Reform for Acceleration and Inclusion (TRAIN) as Republic Act (RA) No. 10963. It likewise introduced new taxes such as the excise tax on cosmetic surgery and sugar- sweetened beverages.

Is it possible to not pay taxes?

Tax evasion, where you deliberately fail to pay a portion or all of your taxes, is illegal. File your annual tax returns even if you can’t afford it or don’t think you owe taxes, to avoid trouble. Tax evasion can result in fines and expensive interest on the amount you owe.

How much is the BIR registration fee?

b) Pay the Annual Registration Fee (P500.00), loose DST (P30.00) and/or payment for the BIR Printed Receipt/Invoice (if taxpayer opted to buy for use) at the New Business Registrant Counter in the BIR Office.

How do I know if I am a big taxpayer?

The following taxpayers are automatically classified as candidate to be a large taxpayer and will be notified in writing as such by the BIR: 1) branches of a taxpayer under the Large Taxpayer Service; 2) subsidiaries, affiliates and entities of conglomerates/group of companies of a large taxpayer; 3) surviving company …

Who is the highest tax payer?

The Bollywood actor Salman Khan ranked as the highest known tax payer across India in 2017, with advanced tax payments of 445 million Indian rupees. Akshay Kumar followed suite with tax payments worth 295 million rupees that year.