Draft - Work in Progress

Tax Reference Materials

Updated as of 6 February 2014

A. Income tax

RR 2-40 Income tax regulations

RR 2-2001 Improperly Accumulated Earnings Tax (IAET)
RMC 35-2011 Clarifying issues concerning IAET
RR 14-2001 Net Operating Loss Carry-Over (NOLCO)
RR 9-98 Minimum Corporate Income Tax (MCIT)
RR 12-2007 Amends RR 9-98 (Quarterly MCIT)
RMC 4-2003 Cost of services per industry
RMC 24-2008 Clarifying what constitutes as cost for gross income purposes
RR 18-2001 Tax-free exchanges
RMO 32-2001
RMO 17-2002
RMC 40-2012
RR 3-2011 Change in accounting period
RR 9-2011
Deductiblity of certain expenses:
RR 13-98 Contributions/gift/donations to accredited donee institutions
RR 10-2002 Entertainment, Amusement and Recreational (EAR) expenses
RR 5-99 Bad debts
RR 25-2002
RMO 31-2009 Requirements for casualty loss
RMC 70-2010 Clarification on the basis of depreciation
RR 12-2012 Depreciation of vehicles
RMC 2-2013 Clarifying RR 12-2012
RR 13-2000 Interest expense limitation / tax arbitrage
DOH AO 32-2010 Discount sharing of senior citizens discount
RR 16-2008 Optional Standard Deduction (OSD)
RR 2-2010 OSD for GPPs
RR 12-2013 Withholding requirement
GR No. 172231 (Isabela All-events test
Cultural)
RR 7-2003 Guidelines in determining whether a particular real property is a capital
asset or ordinary asset
RR 6-2008 Consolidated Regulations on the Taxation of Sale, Barter, Exchange or
Other Disposition of Shares Held as Capital Assets
RMC 37-2012 Clarifying Section 11 of RR 6-2008
RR 16-2012 Minimum Public Ownership
RR 6-2013 Amends Section 7 (c.2.2) of RR 6-2008 -- FMV for shares not listed
and traded in the stock exchange
RMC 16-2013 Tax treatment of cash advances and deposits (non-GPPs)
RR 2-2014 New ITR forms (taxable year ending 31-Dec-13)
GR No. 195909 Income taxation - charitable institutions vs. non-profit proprietary
(St. Luke's case) educational institutions and hospitals
RR 2-2013 Transfer pricing guidelines
B. Value-added tax (VAT)

RR 16-2005 Consolidated VAT Regulations (see amendments below)

RR 2-2007 Removes 70% cap on input VAT
RR 4-2007 Various amendments
RR 10-2011 Amends Sec. 4.106-8
RR 16-2011 Adjusted thresholds on certain exempt transactions
RR 1-2012 Mandatory submission of SLSP
RR 3-2012 Effectivity of adjusted thresholds (RR 16-2011)
RR 13-2012 Excludes parking lots from the term "residential dwellings"
RMC 15-2011 Clarification on "incidental" transactions
GR No. 193301 (Mindanao "Incidental" vs "isolated" transactions
case)
GR No. 146984 Transactions "in the course of trade or business"
(Magsaysay case)
RMC 62-2005 Registration and Invoicing Requirements
RR 7-2010 VAT exemption of senior citizens
RR 8-2010 Amends Sec. 10 of RR 7-2010
RMC 38-2012 Clarification of RR 7-2010
GR No. 184823 (Aichi Observance of the "120+30-day rule" which is mandatory and
case) jurisdictional
GR No. 187845 (San Provides for period of exception in observing "120+30-day rule"
Roque case) between 10-Dec-03 (BIR Ruling DA-489-03) to 6-Oct-10 (Aichi case)

GR No. 153205 Requisites for zero-rated sale of services

(Burmeister case)
Industry-specific issuances:
RMC 9-2006 Brokers/agents
RMC 35-2006 Freight forwarders
RMC 39-2007 Security agencies
RMC 61-2005 Power Industry
RMC 62-2012 AmendS RMC 61-2005
RMC 71-2012 Clarifies RMC 62-2012
RMC 29-2005 Petroleum Industry
RMC 6-2009 HMOs
RMC 46-2008 Common carriers
RMC 97-2010 Exemption of agricultural contract growers
RMC 39-2011 Tollway operators
RMC 16-2010 Motels and other similar establishments
RMC 75-2012 Sale of books, magazines
RR 13-2008 Advance VAT on sale of refined sugar
RMC 7-94 Sale of water
C. Withholding taxes (Expanded [EWT], Final [FWT] and Compensation [WTC])

and fringe benefits tax (FBT)

RR 2-98, as amended Consolidated Withholding Tax Regulations (as amended by numerous

subsequent RRs)
RMC 51-2002 "Gross receipts" is not net of withholding tax
RMC 72-2004 Withholding tax base
RR 14-2012 Tax treatment of interest income on financial instruments
RMC 77-2012 Clarifying RR 14-2012
RMC 81-2012 Supplemental clarification on RR 14-2012
RMC 84-2012 Clarifying RR 14-2012
RMC 27-2011 Taxability of voluntary contributions (i.e., in excess of mandatory statutory
RMC 53-2011 contributions)
RMC 34-2008 Tax treatment of directors fees
RMC 88-2012 Tax treatment of stock options plan
RMC 40-2012 Tax on back wages, allowances and benefits received through garnishment
of debts or labor dispute credits
RR 11-2010 Preferential rate on Managerial and Technical positions occupied by
Filipino personnel employed by RHQs and ROHQs
RMC 41-2009 Clarification on the term "managerial and technical position"
RR 3-98 Fringe Benefits Tax (FBT)
RR 8-2000
RR 10-2000
RR 5-2011 De minimis benefits
RR 8-2012 Increase in clothing allowance
(RR 5-2008) (Previous de minimis regulations)
D. Documentary stamp tax (DST)

RA 9243 DST Law

RA 9648 DST exemption on sale of listed shares (traded in LSE)
RR 13-2004 DST regulations
RMC 22-2010
RA 10001 Reduction of taxes on life insurance policies
GR No. 163653 (Filinvest DST on interco advances
case)
CTA Case No. 7919 No DST on credit facility - only on actual drawings/drawdowns
E. Local taxes

RA 7160 Local Government Code (LGC) -- Book II, Title I (Local Government
Taxation) and Title II (Real Property Taxation)
GR No. 144104 RPT exemption of charitable institutions

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