Updated Version of the Alphalist Data Entry and Validation Module (Version 7.2)

Recently, the bureau has issued a Tax Advisory with regards of the updated version of the Alphalist Data Entry and Validation Module (Version 7.2) which is available for use for the update the Monthly Alphalist of Payees (MAP); Quarterly Alphalist of Payees (QAP); Summary Alpahlist of Withholding Taxes (SAWT) and Annual Information Return of Income Taxes Withheld On Compensation and Final Withholding Taxes (1604 C); Annual Information Return of Creditable Income Taxes Withheld (EXPANDED)/ Income Payments Exempt From Withholding Tax (1604 E) and Annual Information Return of Income Taxes Withhold On Compensation and Final Withholding Taxes (1604 F).

Please refer https://www.bir.gov.ph/images/bir_files/internal_communications_1/Advisory/2024/TAX%20ADVISORY-%20ALPHALIST%20DATA%20ENTRY%20AND%20VALIDATION%20MODULE%20VERSION%207.2.pdf of the Tax Advisory.

Availability of BIR Form Nos. 1700 and 2000 in the eFPS

The bureau has issued Revenue Memorandum Circular (RMC) No. 18-2024 to inform the taxpayers of the availability of BIR Form Nos. 1700 and 2000 in the Electronic Filing and Payment System (eFPS) as follows:

1. BIR Form No. 1700 (Annual Income Tax Return for Individuals Earning Purely Compensation Income (Including Non-Business/Non-Profession Related Income) - Due on or before April 15 of each year covering income for the preceding taxable year.

2. BIR Form No. 2000 (Monthly Documentary Stamp Tax Declaration/Return) - Due within five (5) days after the close of the month when the taxable document was made, signed, issued, accepted or transferred (or when reloading a metering machine becomes necessary or upon remittance by avenue collection agents of collection from the sale of loose stamps.

Please refer: https://www.bir.gov.ph/images/bir_files/internal_communications_2/RMCs/2024%20RMCs/RMC%20No.%2018-2024.pdf of the full text of RMC No. 18-2024.

New Selling Price Threshold of the Sale of House and Lot, and Other Residential Dwellings for VAT Exemption Purposes

As per Revenue Regulations (RR) No. 1-2024 dated January 10, 2024, the Selling Price Threshold of the Sale of House and Lot, and Other Residential Dwellings is adjusted to Three Million One Hundred Ninety-Nine Thousand Two Hundred (Php3,199,200.00) Pesos for Value-Added Tax (VAT) Exemption Purposes.

Please refer the https://www.bir.gov.ph/images/bir_files/internal_communications_1/Full%20Text%20RR%202024/RR%20No.%201-2024.pdf of the full text of RR No. 1-2024.