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Kristine Anne Mercado-Tamayo

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Kristine Anne Mercado-Tamayo is a partner in Quisumbing Torres’ Tax Practice Group. She has 13 years of experience assisting clients on tax issues, involving corporate restructuring, mergers and acquisitions and other cross-border transactions. Kristine advocates on clients' behalf in controversies involving disputed tax assessments, representing clients before the Bureau of Internal Revenue. Kristine Anne obtained her Doctor of Law degree from the Ateneo de Manila in 2005. She is cited as a Next Generation Partner in Tax by the Legal 500 Asia Pacific for 2020. She has been recently appointed as Chairperson in Tax and Financial Services Committee of the European Chamber of Commerce of the Philippines.

On 26 March 2021, the president signed into law Republic Act No. 11534 or the CREATE Act, which is the reconciled version of the Bicameral Conference Committee. It settled the disagreeing provisions of House Bill No. 4157 and Senate Bill No. 1357. The CREATE Act was previously known as the Corporate Income Tax and Incentives Reform Act (CITIRA) bill. The law will become effective on 11 April 2021.

The Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 20-2020 dated 3 August 2020, amending RR No. 06-2013 in relation to RR No. 06-2008, governing the imposition of tax on the sale, barter, exchange or other disposition of shares of stock not traded through the local stock exchange. 

In order to provide relief to taxpayers who will not be able to prepare, let alone file, various tax returns which are due this March 2020, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular No. 29-2020 (RMC 29-2020) on 19 March 2020. Under RMC No. 29-2020, the deadline…