RULINGS, LEGISLATIONS &
ADMINISTRATIVE ISSUANCES

BL&B routinely obtains advance rulings with respect to particular transactions from the Law Division, the International Tax Affairs Division, or any other appropriate division of the BIR National Office. BL&B has filed numerous ruling requests over the years and, in the course of its practice, it has obtained a number of significant and precedent setting or first impression rulings for clients.

 

In the area of tax legislation, BL&B actively advocates the legal position of clients before the House of Representatives and the Senate. It also works closely with revenue authorities on a regular basis to assist in the formulation of revenue regulations and other administrative issuances to implement or interpret existing tax laws or obtain confirmation of our clients’ legal positions.

NOTABLE REPRESENTATIONS:

 

  • Obtained a favorable tax ruling confirming that a consortium of oil and gas companies operating a $4.5 billion deep water gas-to-power project remains exempt from value-added tax notwithstanding the passage of a law expanding the value-added tax base.
  • Obtained tax rulings that (i) not only supply of services, but even supply of goods, by a petroleum subcontractor is entitled to VAT zero-rating; (ii) a Certificate Authorizing Registration may be issued in a real estate transaction upon payment of withholding tax due on installment payments so far made by the buyer, even prior to full payment of the entire withholding tax due on the total contract price; (iii) the ½ of 1% stock transaction tax does not apply to stock trades entered into by retirement funds.
  • Instrumental in amending the Omnibus Investments Code to provide for VAT zero-rating of sale of services to regional headquarters.
  • Proposed draft of local tax regulations relating to situs of taxation for tollways operators that Department of Finance later adopted and promulgated.

 

 

 

 

CONNECT with US

Address:
8/F Jollibee Centre, San Miguel Avenue 1605 Pasig City, Philippines
Telephone:
(632) 633-9418
Fax:
(632) 633-1911; (632) 687-7674
Email:
mail@baniquedlaw.com

Baniqued Layug & Bello

2018

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RULINGS, LEGISLATIONS &
ADMINISTRATIVE ISSUANCES