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RMC No. 34-2019

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REVENUE MEMORANDUM CIRCULAR NO. 34-2019 issued on March 13, 2019 clarifies the treatment and reporting requirements of Input Tax pertaining to drugs and medicines prescribed for diabetes, high-cholesterol and hypertension purchased on or before December 31, 2018 by manufacturers, distributors, wholesalers and retailers which remained unsold as of December 31, 2018.

An Inventory List of drugs and medicines as of December 31, 2018, which became VAT-exempt beginning January 1, 2019 pursuant to Section 34 of Republic Act No. 10963 (TRAIN Law), shall be required from all manufacturers, wholesalers, distributors and retailers regardless of whether or not there is an existing excess Input Tax.

The Inventory List, which shall include all drugs and medicines on hand, imported and locally-manufactured shall be filed (using the format prescribed in Annex A of the Circular) with the Large Taxpayer Service/Revenue District Office where the taxpayer is registered on or before April 25, 2019, as an attachment to the Quarterly VAT Declaration Form (BIR Form 2550Q) for the first quarter of 2019. When filing BIR Form 2550M/2550Q, the Input Tax corresponding to the sale shall be deducted from the taxpayer’s allowable Input Tax.

As the sale of VAT-exempt drugs and medicines are made, the Input Tax corresponding to the sale shall be closed to cost or expense.

RMC No. 33-2019

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No. of Issuance  RMC No. 33-2019 Subject Matter Circularizes the Consolidated Price of Sugar at Millsite for the month of January 2019 Digest Full Text Date of Issue March 8, 2019 REVENUE MEMORANDUM CIRCULAR NO.

RMC No. 31-2019

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REVENUE MEMORANDUM CIRCULAR NO. 31-2019 issued on March 7, 2019 reiterates the tax compliance requirements of candidates, political parties/party list groups and campaign contributors on their registration, update and other tax compliance requirements. All candidates,

RMC No. 30-2019

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REVENUE MEMORANDUM CIRCULAR NO. 29-2019 issued on February 26, 2019 prescribes the revised policies and guidelines in keeping, maintaining and registration of Books of Accounts pursuant to the National Internal Revenue Code, as amended by

RMC No. 29-2019

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REVENUE MEMORANDUM CIRCULAR NO. 29-2019 issued on February 26, 2019 prescribes the revised policies and guidelines in keeping, maintaining and registration of Books of Accounts pursuant to the National Internal Revenue Code, as amended by

RMC No. 28-2019

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REVENUE MEMORANDUM CIRCULAR NO. 28-2019 issued on February 26, 2019 prescribes the use of Bureau of Internal Revenue (BIR) Printed Receipt/Invoice (BPR/BPI). All persons subject to an internal revenue tax shall, at the point of

RMC No. 27-2019

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REVENUE MEMORANDUM CIRCULAR NO. 27-2019 issued on February 26, 2019 circularizes the enhanced BIR Registration Forms (January 2018 ENCS) pursuant to the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law, to wit:

RMC No. 26-2019

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REVENUE MEMORANDUM CIRCULAR NO. 26-2019 issued on February 26, 2019 circularizes Republic Act (RA) No. 11213 entitled “An Act Enhancing Revenue Administration and Collection by Granting an Amnesty on All Unpaid Internal Revenue Taxes Imposed

RMC No. 25-2019

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REVENUE MEMORANDUM CIRCULAR NO. 25-2019 issued on February 21, 2019 publishes the full text of Republic Act No. 11171 entitled “An Act Converting the Dr. Emilio B. Espinosa, Sr. Memorial State College of Agriculture and

RMC No. 24-2019

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REVENUE MEMORANDUM CIRCULAR NO. 24-2019 issued on February 14, 2019 clarifies certain issues on the submission of Certificate of Compensation Payment and Tax Withheld (BIR Form No. 2316) and Certified List of Employees Qualified for