SGV, in collaboration with the Nordic Chamber of Commerce (NordCham), conducted a seminar on 18 June 2024 entitled "Tax Changes in the Philippines: Understanding RMC 5-2024 and the Impact of EOPT." The seminar aimed to update stakeholders on the latest tax regulations and compliance requirements.
SGV Tax Principal Atty. Victor de Dios, Tax Partner Atty. Deonah Marco-Go, and Tax Principal Atty. Donna Frances Ylade-Torres during the Q&A session
SGV Tax Partner Atty. Deonah Marco-Go and SGV Tax Principals Atty. Victor de Dios and Atty. Donna Frances Ylade-Torres served as resource speakers.
Atty. Deonah initiated the session with an in-depth discussion on the recently issued RMC 05-2024, which further clarifies the proper tax treatment of cross-border services following the Supreme Court En Banc Decision in Aces Philippines Cellular Satellite Corp. v. the Commissioner of Internal Revenue. She highlighted the significance of the memorandum and its potential effects on business stakeholders.
Atty. Donna discusses simplifying tax payment procedures
The seminar's second segment addressed best practices and tax compliance under the newly implemented Ease of Paying Taxes (EOPT) Law. Atty. Donna explained the streamlined tax payment process for individuals and businesses.
Atty. Vic concluded the seminar by sharing his knowledge on customs audits and related Bureau of Customs (BOC) regulatory compliance.
The event wrapped up with a panel Q&A session, allowing attendees to seek further clarification on various tax matters from the speakers.
