Tax Updates May-June 2022 (SyCipLaw Tax Issues and Practical Solutions (T.I.P.S.) International Edition Vol. 6)

July 8, 2022

SyCipLaw's Tax Department has prepared an international edition of its Tax Issues and Practical Solutions (T.I.P.S.) for the second quarter of 2022.

Please read the full text here or via this link.

The SyCipLaw T.I.P.S - International Edition covers the following tax issues:

1. Are the Bureau of Internal Revenue's collection efforts deemed initiated at the time of the issuance of the Final Decision on Disputed Assessment?

2. Does failure to indicate the date of acceptance of the BIR in the Waiver of the Defense of Prescription under the Statute of Limitations render the waiver invalid?

3. Would the failure to indicate a definite due date in the tax assessment render the same invalid?

4. Can an officer of a corporation be held criminally liable for the corporation's failure to pay taxes solely on the basis of a letter to the BIR signed by such officer expressing the corporation's willingness to enter into a compromise?

5. Does the Court of Tax Appeals have jurisdiction over a claim for tax refund filed by the Bangko Sentral ng Pilipinas with the BIR?

6. Does filing a motion for reconsideration of a final decision on a disputed assessment with an Assistant Commissioner of the BIR toll the 30 day period to appeal to the CTA, or the CIR, to question the assessment?

7. Can a Memorandum of Assignment be a valid Letter of Authority?

8. Does the tax exemption of Philippine Amusement and Gaming Corporation extend to its contractees and licensees?

9. What are the registered projects/activities under Tiers I, II, and III of the 2022 Strategic Investment Priority Plan?

10. Are there taxes due on the entry and/or importation into Freeport Zones or Ecozones of petroleum and petroleum products?

11. Are BIR tax audits and other field operations suspended beginning May 30, 2022?

12. What are the different classifications of Educational Institutions and how are their income taxed?