Summary
RMC No. 127-2016 lifts the suspension of effectivity of certain revenue issuances covered by RMC No. 69-2016.
Key points
- Issuances no longer suspended. RMC No. 61-2016 on policies and guidelines for accounting and recording transactions involving “Netting” or “Offsetting” is covered. RMC No. 62-2016 on the proper tax treatment of Passed-on Gross Receipts Tax is also covered.
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.