- RR No. 16-2023 sets the new threshold for VAT-exemption on the sale of house and lots and other residential dwellings to Php 3.6 million.
- RMC No. 08-2024 clarifies the withholding tax provisions of RR No. 16-2023 for e-marketplace operators and digital financial services providers.
- RMC No. 09-2024 states that taxpayers can disregard the surcharge automatically computed in amended returns filed through eFPS if the original return was filed on time.
- The eFPS is being enhanced to adjust the computation of the surcharge.
Source: kpmg.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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