The last edition of Tax Tweets, the official monthly publication of Reyes Tacandong & Co., offers a deep dive into the latest regulatory shifts affecting the Philippine fiscal landscape. This issue primarily focuses on the Bureau of Internal Revenue (BIR) issuances, including Revenue Regulations No. 24-2025, which updates the imposition of Creditable Withholding Tax for top withholding agents, and Revenue Memorandum Circular No. 81-2025, which reiterates the strict criteria for the deductibility of ordinary and necessary business expenses. It also details the procedural guidelines for excise tax subsidies granted to the AFP Commissary and Exchange Service (AFPCES) and provides updated alphanumeric tax codes (ATC) resulting from the Capital Markets Efficiency Promotion Act (RA 12214).
Beyond tax-specific updates, the publication covers significant Securities and Exchange Commission (SEC) developments, most notably the introduction of the Philippine Green Equity Label. This framework sets specific eligibility criteria for companies wishing to designate their shares as “Green Equity,” requiring that at least 50% of their revenue or investments align with sustainable activities while keeping fossil fuel-related revenue below 5%. The report also highlights SEC Memorandum Circulars that enhance shelf registration validity to five years and provide updated guidelines on exempt transactions under the Securities Regulation Code.
Finally, the issue addresses critical updates from the Philippine Economic Zone Authority (PEZA) regarding the CREATE MORE Act (RA 12066). It provides a detailed “positive list” of goods and services—ranging from janitorial and security services to specialized consultancy and administrative operations—that are now clarified as directly attributable to registered activities and thus eligible for VAT zero-rating. This comprehensive summary serves as a vital compliance guide for businesses navigating the complexities of new tax incentives and reporting requirements in the Philippines.
To learn more about these significant regulatory updates and how they may impact your operations, you may access and download the full publication below:
