BIR circularizes the new daily minimum wage rates in Regions II, III & XII
Other Relevant Tax Updates:
- TAX & BUSINESS-RELATED NEWS [OCTOBER 12-18]
- BIR ANNOUNCES THE AVAILABILITY OF TAXPAYER REGISTRATION-RELATED APPLICATIONS (TTRA) PORTAL
- BIR CIRCULARIZES THE NEW DAILY MINIMUM WAGE RATES IN CERTAIN SECTORS/INDUSTRIES UNDER REGION III (CENTRAL LUZON) EFFECTIVE OCTOBER 16, 2023
- BIR CIRCULARIZES THE NEW DAILY MINIMUM WAGE RATES IN REGION II (CAGAYAN VALLEY) EFFECTIVE OCTOBER 16, 2023
- BIR CIRCULARIZES THE NEW DAILY MINIMUM WAGE RATES IN SOCCSKSARGEN EFFECTIVE OCTOBER 16, 2023
- COURT OF TAX APPEALS CASES
- TAX & BUSINESS-RELATED NEWS [OCTOBER 12-18]
- JPMorgan Chase incorporates pro-family benefits for employees
- COA flags BIR, SSS over lapses in wage subsidy program
- 15 LGUs qualify for DoT’s P180-M grant
- ERC rejects NGCP plea to amend rules on rates
- ERC approves termination of Meralco, SMC deals
- BIR’s perfume seizures ring up P600 million in tax debts
- Antique seeks to become premier diving destination
- Global payments company founded by Filipina aims to capture gig economy
- Five times stronger than steel: Japan’s new ‘wood’
- DoLE: ‘No work, no pay’ on Oct 30
- Marcos exempts Landbank from giving earnings to gov’t after funding Maharlika
- Zambo firm, execs sued for money laundering
- Solon seeks national funding for 3 Negros ecotourism sites
- Marcos approves P 270B worth of key projects
- Davao City, Davao de Oro richest in Mindanao – COA
- DA, private company launch ‘instant’ vegetable meals
- Cruise ships returning to Subic after 3 years
- PEZA ties up with JICA, Japan firm for renewable projects
- Meralco takes majority control of SPNEC
- De La Salle University Battles Cybersecurity Incident, Shifts Classes Online
- Hontiveros: Probe NGCP’s ₱8.7-B janitorial, security expenses
- SM Prime to open its 4th mall in Laguna, 84th in Philippines
- NGCP seeks government support for accelerated Batangas-Mindoro project
- BIR ANNOUNCES THE AVAILABILITY OF TAXPAYER REGISTRATION-RELATED APPLICATIONS (TTRA) PORTAL
Revenue Memorandum Circular (RMC) No. 109-2023, issued on October 13, 2023, announces the availability of Taxpayer Registration-Related Applications (TRRA) Portals as part of the BIR’s commitment to modernize tax administration and enhance the convenience of registration. The TRRA Portal is an alternative option that can be used by taxpayers to submit registration-related applications through email. The circular also highlights the required documents to be submitted electronically and the procedures to be followed to access the portal through BIR eServices.
- BIR CIRCULARIZES THE NEW DAILY MINIMUM WAGE RATES IN CERTAIN SECTORS/INDUSTRIES UNDER REGION III (CENTRAL LUZON) EFFECTIVE OCTOBER 16, 2023
Revenue Memorandum Circular (RMC) No. 108-2023, issued on October 10, 2023, circularizes the New Daily Minimum Wage Rates in Certain Sectors/Industries under Region III as prescribed in Wage Order No. RBIII-24. Effective October 16, 2023, the minimum wage earners in the private sector in Region III shall receive the amount of Php 40.00 increase in the basic wage per day. The Wager Order was approved on September 19, 2023, and published at The Manila Bulletin on September 30, 2023.
- BIR CIRCULARIZES THE NEW DAILY MINIMUM WAGE RATES IN REGION II (CAGAYAN VALLEY) EFFECTIVE OCTOBER 16, 2023
Revenue Memorandum Circular (RMC) No. 107-2023, issued on October 10, 2023, circularizes the New Daily Minimum Wage Rates in Certain Sectors/Industries under Region II (Cagayan Valley), as prescribed in Wage Order No. RTWPB 2-22. Effective October 16, 2023, the minimum wage earners in the private sector in Region II shall receive the amount of Php 30.00 increase in the basic wage per day. The Wage Order was approved on September 13, 2023, and published at Northern Forum on September 30, 2023.
- BIR CIRCULARIZES THE NEW DAILY MINIMUM WAGE RATES IN SOCCSKSARGEN EFFECTIVE OCTOBER 16, 2023
Revenue Memorandum Circular (RMC) No. 106-2023, issued on October 10, 2023, circularizes the New Daily Minimum Wage Rates in certain sectors/industries under Region XII SOCCSKSARGEN, as prescribed in Wage Order No. RB XII-23. Effective October 16, 2023, the minimum wage earners in the private sector in Region XII shall receive the amount of Php 35.00 increase in the basic wage per day. The Wage Order was approved on September 21, 2023, and published at Brigada News Philippines on September 30, 2023.
- CTA CASES ON REFUND OF CGT & DST ARISING FROM RESCISSSION OF CONTRACT & VOID ASSESSMENT AS A RESULT OF REITERATION OF FINDINGS IN FAN WITHOUT CONSIDERING THE DEFENSES IN PAN
[CGT, AS A FORM OF TAX ON INCOME, IS IMPOSED ON THE SALE, EXCHANGE, OR DISPOSITION OF CAPITAL ASSETS] [DST MUST BE PAID UPON THE ISSUANCE OF THE INSTRUMENT EVIDENCING THE TRANSFER OR CONVEYANCE OF REAL PROPERTY, IRRESPECTIVE OF WHETHER THE CONTRACT THAT GAVE RISE TO IT IS RESCISSIBLE, VOID, VOIDABLE, OR UNENFORCEABLE]
Petitioners Great Landho, Inc. (GLI), TT&T Development, Inc. (TDI), and Tama Properties Inc. (TPI) filed a Petition for Review praying for the refund or tax credit of Php 15.8 Million allegedly representing erroneously paid Capital Gains Tax (CGT) and Documentary Stamp Tax (DST) in connection with the sale or transfer of parcels of land entered into between Petitioner GLI, as buyer, and Petitioners TDI and TPI, as sellers. Petitioners argued that the amounts of CGT and DST paid pursuant to the sale transactions that were subsequently cancelled should be considered erroneously paid taxes, hence, should be recovered as tax refund or credit. On the other hand, the Respondent Commissioner of Internal Revenue (CIR) countered that the Petitioners’ CGT and DST payments were not erroneously collected, as the said taxes on the subject sale transactions accrued on the day of the execution of the valid contracts of sale of real properties. In ruling, the Court held that Petitioner TDI is entitled to the refund of erroneously paid CGT, but Petitioner GLI is not entitled to the refund of its DST payments. Here, since Petitioners GLI and TDI mutually agreed to rescind the Deed of Absolute Sale, the sale transaction was not consummated and thus, no actual conveyance or transfer of property was made between them. As a direct consequence, the seller derived no income thereon that is subject to CGT. On the other hand, DST is an excise tax imposed on the privilege to transfer or convey a real property through the execution of a Contract of Sale or a Deed of Absolute Sale and not upon the transfer or conveyance itself. Consequently, the subsequent mutual cancellation or revocation of the sale transactions did not operate to cancel the DST liability due on the duly executed Deeds of Absolute Sale. This is because Petitioners TDI and TPI had already exercised the privilege to transfer or convey their respective real properties to Petitioner GLI upon the due execution of the Deeds of Absolute Sale. Thus, the subject DST payments cannot be considered erroneous. Thus, the Petition was PARTIALLY GRANTED. [GREAT LANDHO, INC., TT&T DEVELOPMENT, INC. & TAMA PROPERTIES INC. VS. COMMISSIONER OF INTERNAL REVENUE, CTA CASE NO. 10184, AUGUST 4, 2023]
[THE RIGHT OF THE TAXPAYER TO ANSWER THE PAN CARRIES WITH IT THE CORRELATIVE DUTY ON THE PART OF THE CIR TO CONSIDER THE RESPONSE THERETO] [THE ISSUANCE OF FAN WITHOUT EVEN HEARING THE SIDE OF THE TAXPAYER IS ANATHEMA TO THE CARDINAL PRINCIPLES OF DUE PROCESS]
Dizon Farms Produce, Inc. (DFPI) and the Commissioner of Internal Revenue (CIR) both filed their Petitions for Review assailing the CTA 3rd Division’s earlier Decision and Resolution. DFPI argued that the Court in Division erred in holding that DFPI is precluded from further questioning the validity of the Final Assessment Notice (FAN). DFPI asserted that it would not have agreed to pay the Documentary Stamp Tax (DST) assessment if it knew that the said assessment was void ab initio. On the other hand, the CIR maintained that the Court in Division gravely erred in partially granting DFPI’s Petition thereby ordering the cancellation of the FAN and Assessment Notices. It argued that an action against a taxpayer’s Protest to the Preliminary Assessment Notice (PAN) is not required by the BIR Rules and Regulations. In ruling, the Court held that the Avon case is applicable to the case at bar. Hence, the subject FAN and Assessment Notices, except that pertaining to DST, are void for failure to adhere to the requirements of due process. In Avon, the Supreme Court categorically pronounced that the CIR’s inaction and omission to give due consideration to the arguments and evidence submitted by a taxpayer are deplorable transgressions of the latter’s right to due process. Thus, the issuance of a FAN, without consideration and evaluation of the defenses contained in a taxpayer’s Protest to a PAN, constitutes a violation of the taxpayer’s right to due process which renders the assessment void. The records of the case are clear that in issuing the FAN and Assessment Notices, the BIR neither addressed nor delved into the arguments raised by DFPI in its Protest Letter. As a consequence of such violation, the said deficiency tax assessments are rendered void and cannot be enforced against DFPI, except for the assessed basic DST. DFPI is estopped from questioning the validity of the DST assessment since it already indicated its concurrence to the assessed basic DST. [DIZON FARMS PRODUCE, INC. VS. COMMISSIONER OF INTERNAL REVENUE & COMMISSIONER OF INTERNAL REVENUE VS. DIZON FARMS PRODUCE, INC., CTA EN BANC CASE NO. 2516 & 2521, AUGUST 1, 2023]
JPMorgan Chase incorporates pro-family benefits for employees [The Manila Times, October 18, 2023]
A prime example of this commitment is the “enhanced paid parental leave” for non primary caregivers such as fathers and same-sex partners. Under this initiative, both probationary and regular employee caregivers can avail themselves of 112 calendar days of paid leave, inclusive of statutory benefits.
COA flags BIR, SSS over lapses in wage subsidy program [The Philippine Star, October 18, 2023]
The Commission on Audit (COA) has called out the Bureau of Internal Revenue (BIR) and the Social Security System (SSS) over lapses in the implementation of the P51-billion Small Business Wage Subsidy (SBWS) Program, resulting in failure to assist 41 percent or 717,442 target employees who were unable work due to strict community lockdowns at the height of the COVID-19 pandemic in 2020.
15 LGUs qualify for DoT’s P180-M grant [The Manila Times, October 18, 2023]
The Department of Tourism (DoT) has selected outstanding tourism proposals from 15 local government units (LGUs) poised to receive a total of P180 million in tourism projects as part of the agency’s flagship program, “Tourism Champions Challenge” (TCC).
https://www.manilatimes.net/2023/10/18/news/national/15-lgus-qualify-for-dots-p180-m-grant/1915224
ERC rejects NGCP plea to amend rules on rates [The Philippine Star, October 18, 2023]
In a petition to revise the 2022 amended rules for setting transmission wheeling rates (2022 Amended RTWR) filed by the company in December last year, NGCP sought to limit the fourth regulatory period to the years 2016 to 2020, instead of 2016 to 2022, as well as include the occurrence of “grassfires” among force majeure events, and allow reopening events in rate-setting.
https://www.philstar.com/business/2023/10/18/2304525/erc-rejects-ngcp-plea-amend-rules-rates
ERC approves termination of Meralco, SMC deals [Philippine Daily Inquirer, October 16, 2023]
The Energy Regulatory Commission (ERC) has approved the termination of power supply deals between distributor Manila Electric Co. (Meralco) and subsidiaries of conglomerate San Miguel Corp. for 1,800 megawatts (MW) of crucial supply that must be delivered by 2024 and 2025, its top official told reporters.
https://business.inquirer.net/426484/erc-oks-termination-of-meralco-smc-deals
BIR’s perfume seizures ring up P600 million in tax debts [Bilyonaryo, October 16, 2023]
During a recent nationwide crackdown, the BIR successfully confiscated more than 390,000 bottles of excisable perfumes and toilet water products.
https://bilyonaryo.com/2023/10/16/birs-perfume-seizures-ring-up-p600-million-in-tax-debts/business/
Antique seeks to become premier diving destination [Manila Bulletin, October 15, 2023]
To kickstart this goal, the Antique Provincial Tourism and Cultural Affairs Office (APTCAO) is pushing for the creation of a diving organization.
https://mb.com.ph/2023/10/15/antique-seeks-to-become-premier-diving-destination
Global payments company founded by Filipina aims to capture gig economy [Philippine Daily Inquirer, October 15, 2023]
In New York, a 20-something Filipina startup founder is making a name in two male-dominated businesses—financial technology (fintech) and cryptocurrency—and helping freelancers in the Philippines get more from their hard-earned dollars.
Five times stronger than steel: Japan’s new ‘wood’ [Nikkei Asia, October 15, 2023]
As a part of its efforts to decarbonize, Yamaha Motor Company has started using wood-derived cellulose nanofibers (CNF) in place of some plastic parts in its watercraft.
https://asia.nikkei.com/Business/Technology/Five-times-stronger-than-steel-Japan-s-new-wood2
DoLE: ‘No work, no pay’ on Oct 30 [The Manila Times, October 15, 2023]
THE “no work, no pay” policy will be applied during the Barangay and Sangguniang Kabataan Elections (BSKE) holiday on Oct. 30, 2023, the Department of Labor and Employment (DoLE) said Saturday.
https://www.manilatimes.net/2023/10/15/news/national/dole-no-work-no-pay-on-oct-30/1914757
Solon seeks national funding for 3 Negros ecotourism sites [Inquirer Visayas, October 14, 2023]
Rep. Jose Francisco “Kiko” Benitez authored House Bills No. 9382, 9383, and 9384, which aim to declare the Gawahon Eco-Park in Victorias City, Mt. Kanlandog in Murcia, and Sitio Pulak-Pulakan in Barangay San Fernando, Talisay City as ecotourism zones, respectively.
https://newsinfo.inquirer.net/1845575/solon-seeks-national-funding-for-3-negros-ecotourism-sites
Marcos exempts Landbank from giving earnings to gov’t after funding Maharlika [Rappler, October 14, 2023]
“Pursuant to Section 5 of RA No. 7656, the percentage of net earnings to be declared and remitted by [Landbank] to the National Government for CY 2022 is adjusted from fifty percent of its annual net earnings to zero percent,” Marcos declared in Executive Order 43, signed on Wednesday, October 11.
https://www.rappler.com/business/marcos-exempts-landbank-remit-earnings-government-maharlika-fund/
Zambo firm, execs sued for money laundering [Inquirer Mobile, October 14, 2023]
The Securities and Exchange Commission (SEC) has sued Silverlion Trading Corp. and its top executives and associates for money laundering activities after the company was found to be illegally soliciting investments from the public.
Marcos approves P 270B worth of key projects [Inquirer Mobile, October 14, 2023]
Mr. Marcos cleared a total of six projects at the meeting of the Neda board, which is chaired by the President, Socioeconomic Planning Secretary Arsenio Balisacan said in a press conference in Malacañang.
Davao City, Davao de Oro richest in Mindanao – COA [SunStar Davao, October 14, 2023]
DAVAO City and Davao de Oro have emerged as the wealthiest city and province in Mindanao, respectively, based on the 2022 Annual Financial Report (AFR) on Local Government Units (LGU) released by the Commission on Audit (COA).
https://www.sunstar.com.ph/davao/davao-city-davao-de-oro-richest-in-mindanao-coa
DA, private company launch ‘instant’ vegetable meals [Inquirer.Net, October 14, 2023]
According to the DA and agriculture company FarmFresh Products Inc., the meal which is good for five people can be prepared by putting it in hot water for a few minutes. To date, there are two viands available, pinakbet and chopsuey.
https://newsinfo.inquirer.net/1845612/da-private-company-launches-instant-vegetable-meals
Cruise ships returning to Subic after 3 years [Philippine Daily Inquirer, October 14, 2023]
A cruise ship from Xiamen, China, made its maiden voyage here on Thursday, signaling the return of luxury vessels after a three-year hiatus, according to the Subic Bay Metropolitan Authority (SBMA).In a statement on Friday, the SBMA said the Blue Dream Star was the first of 11 luxury vessels scheduled to visit Subic Bay from Oct. 12 to Nov. 21.
https://newsinfo.inquirer.net/1845420/cruise-ships-returning-to-subic-after-3-years
PEZA ties up with JICA, Japan firm for renewable projects [BusinessWorld, October 13, 2023]
Under the partnership, Advantec will introduce its solar power technology in the Pampanga Economic Zone with an annual energy yield of 3.6 million kilowatts.
Meralco takes majority control of SPNEC [Inquirer Mobile, October 13, 2023]
A unit of power distributor Manila Electric Co. (Meralco) will inject P15.9 billion into renewable energy firm SP New Energy Corp. (SPNEC) via share subscription, making it the controlling shareholder of Leondro Leviste’s company.
De La Salle University Battles Cybersecurity Incident, Shifts Classes Online [BNN Network, October 12, 2023]
On October 9, 2023, De La Salle University (DLSU) in Manila found itself in the throes of a cybersecurity incident. The university’s on-premise-hosted applications were affected by this digital onslaught. However, it was reported that student records and other cloud-hosted applications managed to emerge unscathed from this cyber-attack.
Hontiveros: Probe NGCP’s ₱8.7-B janitorial, security expenses [CNN Philippines, October 12, 2023]
The NGCP claimed in a press briefing that the multi-billion spending was for 583 facilities, each costing the company ₱87,000 per month.
SM Prime to open its 4th mall in Laguna, 84th in Philippines [Rappler, October 12, 2023]
Sy family-led SM Prime Holdings Incorporated will open its 84th mall in the Philippines – SM Center San Pedro – on Friday, October 13, in Laguna, south of the capital.
https://www.rappler.com/business/sm-prime-open-fourth-mall-laguna-province/
NGCP seeks government support for accelerated Batangas-Mindoro project [Bilyonaryo, October 12, 2023]
Sy-led National Grid Corp. of the Philippines (NGCP) has requested government support for the completion of the P14.03 billion Batangas-Mindoro project by 2025, saying that the three-year timeline is “very tight.”
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