THE Bureau of Internal Revenue (BIR) has ruled to exempt from taxation the transfer of assets and the issuance and transfer of securities. Signed by Finance Secretary Ralph G. Recto, Revenue Regulation (RR) 002-2025 implements the tax exemption provisions of Republic Act (RA) 9267 or the “Securitization Act of 2004.
THE Bureau of Internal Revenue has ruled to exempt from taxation the transfer of assets and the issuance and transfer of securities.
As such, the transfer of assets to Special Purpose Entities , including the sale or transfer of any and all security interest, will be exempted from value-added tax and documentary stamp tax . Meanwhile, the original issuance of asset-backed securities and related securities, including seller’s equity and subordinated debt instruments purchased by the originator, will be exempted from VAT but shall be subject to DST.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BOC: Rice tariff cuts cost N.G. ₱13-B foregone revenue | Reine Juvierre S. AlbertoTHE reduction in rice tariff rates to 15 percent has costed the national government P13.3 billion in foregone revenues, according to the Bureau of Customs (BOC). At the hearing of the ‘Murang Pagkain’ Quinta Committee on Wednesday, Customs Assistant Commissioner Atty. Vincent Philip C. Maronilla said the government lost P13.
Read more »
In hunt for revenue sources, DOF tapped ‘creativity’ well | Reine Juvierre S. AlbertoIT felt like three years. This is how Finance Secretary Ralph G. Recto detailed his leadership of a department expected to raise P15.8 billion a day to keep the Philippines afloat amid headwinds.
Read more »
Sale, use of fake PWD IDs form of tax evasion–BIR | Reine Juvierre S. AlbertoWith P88.2 billion in tax losses from the use of fake person with disability (PWD) identification cards (IDs) in 2023, the Bureau of Internal Revenue (BIR) will launch a nationwide crackdown on the tax evasion scheme. The BIR announced last Thursday that Internal Revenue Commissioner Romeo D. Lumagui Jr.
Read more »
BIR: Sale, use of fake PWD IDs is tax evasion; revenue losses at P88.2BLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Philippines Targets Double-Digit Revenue Growth from BIR and BOCThe Philippine Department of Finance (DOF) aims for double-digit revenue growth from the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) driven by faster economic growth and efficiency gains. Finance Secretary Ralph Recto projects a revenue-to-GDP ratio of 16.7 percent this year, the highest in 27 years. He anticipates a 11 percent growth for both BIR and BOC next year, aiming to maintain a revenue-to-GDP ratio of at least 16.5 percent.
Read more »
Tech-driven government environmental sustainability effortsPart five The National Internal Revenue Code and relevant Revenue Regulations in the Philippines provide several fiscal incentives aimed at promoting environmental sustainability practices and the use of renewable energy and sustainable practices. The Renewable Energy Act of 2008 (Republic Act 9513) legislated several tax incentives provisions.
Read more »