What is BIR Revenue Regulations?
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.
How do I report BIR?
Taxpayers with tax queries and concerns may call the Customer Assistance Division (formerly BIR Contact Center) at Hotline No. 8538-3200 or send an e-mail to [email protected].
What are the powers of Bureau of Internal Revenue BIR?
– The Bureau of Internal Revenue shall be under the supervision and control of the Department of Finance and its powers and duties shall comprehend the assessment and collection of all national internal revenue taxes, fees, and charges, and the enforcement of all forfeitures, penalties, and fines connected therewith.
What is BIR and its purpose?
The BIR is required by law to assess and collect all national internal revenue taxes, fees, and charges, as well as to execute any forfeitures, penalties, and fines associated with them, including the execution of judgments rendered in its favor by the courts.
What is revenue Regulation 9 2021 all about?
The Secretary of Finance has issued RR No. 9-2021 to implement the imposition of the 12% percent VAT on certain sales transactions previously considered as zero-rated sales.
What are the different types of revenue issuances in the Philippines?
Revenue Issuances
- 2022 Revenue Regulations.
- Revenue Memorandum Orders. 2022 Revenue Memorandum Orders.
- 2022 Revenue Memorandum Circulars.
- 2022 Revenue Delegation of Authority Orders.
- 2022 Revenue Administrative Orders.
What happens when you report someone for tax evasion Philippines?
Under the said provision, an informer shall be rewarded in a sum equivalent to 10% of the revenues, surcharges or fees recovered and/or fine or penalty imposed and collected or P1,000,000 per case, whichever is lower.
What is the role of Bureau of Internal Revenue BIR in the Philippines?
The Bureau is tasked to collect close to 70 percent of revenues necessary to finance government’s expenditures.
What are the 3 major revenue agencies of the Philippines?
Cluster & Agencies
- BUREAU OF INTERNAL REVENUE BIR. As Mandated:
- BUREAU OF CUSTOMS BOC.
- BUREAU OF TREASURY BTR.
- INSURANCE COMMISSION IC.
- NATIONAL TAX RESEARCH CENTER NTRC.
- PHILIPPINE DEPOSIT INSURANCE CORPORATION PDIC.
- Privatization and Management Office PMO.
- Securities and Exchange Commission SEC.
What is the role of the BIR in the users of accounting information?
Tax Authorities (BIR): for determining the credibility of the tax returns filed on behalf of a company. Investors: for analyzing the feasibility of investing in a company. Investors want to make sure they can earn a reasonable return on their investment before they commit any financial resources to a company.