On 8 January 2024, Commissioner of Internal Revenue Romeo D. Lumagui Jr. issued an advisory regarding the cessation of the Bureau of Internal Revenue (BIR)’s collection of the Annual Registration Fee (ARF), in compliance with Republic Act (RA) No. 11976 or the “Ease of Paying Taxes Act.”
The Bureau of Internal Revenue recently issued Revenue Regulations No. 16-2023, which sets out the guidelines on the imposition of withholding tax on gross remittances by electronic marketplace operators and digital financial services providers to online sellers/merchants, in connection with goods and services sold or paid through the former’s platform.
The Regulations took effect on 12 January 2024.
Asia Pacific tax authorities are actively seeking to reduce tax leakages, non-compliance, and what they perceive to be tax avoidance activities. To help you position your business for success in an era of ever-changing tax rules and intense scrutiny, our subject matter experts from across the region and globally will come together to examine key developments. We will discuss the impact of emerging trends and current issues on your business models and strategies, sharing practical tips on how you can maximize opportunities to achieve the best risk mitigation outcomes.