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Bureau of Internal Revenue clarifies tax refund filing procedures

1 report, 1 independent Updated Wed 00:00
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What happened

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The Bureau of Internal Revenue issued Revenue Memorandum Circular (RMC) No. 102-2026, RMC No. 103-2026, and Revenue Memorandum Order (RMO) No. 25-2026. These issuances clarify filing procedures, documentary requirements, and processing timelines for tax claims. RMC No. 102-2026 specifically concerns claims for refunds or tax credits arising from excess or unutilized Creditable Withholding Taxes (CWT), which must be filed with the Revenue District Office.

From bworldonline.com

Why it matters

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The procedural clarifications are intended to make the tax refund process more predictable. For businesses, particularly large corporations, these changes can help in recovering excess tax payments. Amounts tied up in refund claims may otherwise affect business cash flow and growth.

From bworldonline.com

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