Tax Updates July 2023 (SyCipLaw Tax Issues and Practical Solutions (T.I.P.S.) Vol. 26)
September 7, 2023
SyCipLaw's Tax Department has prepared the T.I.P.S. for July which covers the following tax issues:
1. May the Bureau of Internal Revenue validly serve an assessment notice through the central receiving station of an establishment where the taxpayer is a tenant without proof of authority of the person who allegedly received the mail as part of her functions?
2. Does a taxpayer need to prove the actual remittance of the withheld taxes by the withholding agent to be entitled to an excess or unutilized creditable withholding tax refund?
3. How can a corporate taxpayer prove it is the same entity entitled to a tax refund when its complete corporate name spells out "Aktiebolag" but the refund petition was filed using the abbreviated "AB"?
4. What amendments were introduced by Revenue Regulations ("RR") No. 6-2023 regarding the late filing of tax returns or filing of returns with the wrong revenue district office?
5. In tax-free exchanges of properties, which RDO must issue the Certificate Authorizing Registration ("CAR") over the properties?
6. What are the rates of percentage tax ("PT"), minimum corporate income tax ("MCIT"), and regular corporate income tax ("RCIT") that will revert to the previous rates starting July 1, 2023?
7. What changes were introduced by RMC No. 71-2023 and Revenue Memorandum Order ("RMO") No. 23-2023 on the processing of claims for Value-Added Tax ("VAT") credit or refund?
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