Tag Archives: Bureau of Internal Revenue

Why Sari-Sari Stores, Carinderia and other Marginal Income Earners Must Register with BIR

The Bureau of Internal Revenue recently issued Memorandum Circular No. 7-2014, clarifying the issues relating to the registration and tax compliance requirements of Marginal Income Earners (MIE). The circular provides that an MIE refers to an individual not deriving compensation as an employee under an employer-employee relationship but who is self-employed and deriving gross sales or receipts not exceeding P100,000 in any 12-month period. Moreover, the activities of such MIE should be principally¬† for subsistence or livelihood. The term includes, but not limited to, agricultural growers/producers (farmers/fishermen) selling directly or indirectly to ultimate consumers, small sari-sari stores, small carinderias or “turo-turos”, drivers/operators of a single unit tricycle, and such, but shall not include licensed professionals, consultants, artists, sales agents, brokers and others similarly situated, including all others whose income have been subjected to withholding tax. Continue reading

Primary Registration, Updates, And Cancellation of Tax Registration (Revenue Regulations 7-2012)

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REPUBLIC OF THE PHILIPPINES
DEPARTMENT OF FINANCE
BUREAU OF INTERNAL REVENUE
Quezon City

April 2, 2012

REVENUE REGULATIONS NO. 7-2012

SUBJECT : Amended Consolidated Revenue Regulations On Primary Registration, Updates, And Cancellation

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Tax Registration and Requirements of Marginal Income Earners (Memorandum Circular 7-2014)

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REPUBLIC OF THE PHILIPPINES
DEPARTMENT OF FINANCE
BUREAU OF INTERNAL REVENUE

February 5, 2014

MEMORANDUM CIRCULAR NO. 7-2014

SUBJECT : CLARIFYING THE ISSUES ON THE REGISTRATION AND COMPLIANCE REQUIREMENTS OF MARGINAL INCOME EARNERS PURSUANT TO REVENUE REGULATIONS NO. 7-2012

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New Regulations for Tiangge or Privilege Stores

On 22 August 2013, the Bureau of Internal Revenue (BIR) issued a new set of regulations that cover tiangge or privilege stores, basically the payment of business/income taxes and the obligations of organizers/exhibitors/operators of the tiangge. This is Revenue Regulation No. 16-2013. RR 16-2013 provides that it shall take effect 15 days after its publication in a newspaper of general circulation. Since it was published in the Manila Bulletin on 27 September 2013, it took effect effect on 12 October 2013. Continue reading