RSD speaks at ANZCHAM webinar
Tax Partner Romulo S. Danao, Jr. (RSD) facilitated a webinar titled Transfer Pricing - New BIR Requirements for Taxpayers with Related Party Transactions hosted by the Australian-New Zealand Chamber of Commerce Philippines (ANZCHAM) on 22 September. ANZCHAM members and non-members attended the webinar.
Poster of the ANZCHAM webinar
RSD opened the session with an overview of transfer pricing and discussed the Transfer Pricing Regulations issued in 2013 and Transfer Pricing Audit Guidelines issued in 2019. He discussed the new Revenue Regulations No. 19-2020, as recently clarified by Revenue Memorandum Circular Nos. 76-2020 and 98-2020. He shared how taxpayers can comply with the new requirement, which aims to improve the BIR’s transfer pricing risk assessment and audit, ensuring that related-party transactions are properly disclosed and conducted at arm’s length. The event’s organizing team included Tax Senior Managers Donna Frances Ylade-Torres and Ana Katrina De Jesus.
RSD presenting at the Transfer Pricing webinar