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2007 BIR-RR Contents

The document summarizes 15 Revenue Regulations (RR) issued by the Bureau of Internal Revenue in 2007: RR No. 1-2007 amends provisions relating to tax privileges for senior citizens. RR No. 2-2007 and 4-2007 amend provisions relating to value-added tax regulations. RR No. 3-2007 provides policies for a one-time abatement of penalties and interest on delinquent tax accounts. RR No. 5-2007 through 13-2007 cover various tax treatments, compliance requirements, and guidelines related to specific industries or transactions. RR No. 14-2007 clarifies the tax treatment of microfinance services. RR No. 15-2007 allows abatement

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106 views

2007 BIR-RR Contents

The document summarizes 15 Revenue Regulations (RR) issued by the Bureau of Internal Revenue in 2007: RR No. 1-2007 amends provisions relating to tax privileges for senior citizens. RR No. 2-2007 and 4-2007 amend provisions relating to value-added tax regulations. RR No. 3-2007 provides policies for a one-time abatement of penalties and interest on delinquent tax accounts. RR No. 5-2007 through 13-2007 cover various tax treatments, compliance requirements, and guidelines related to specific industries or transactions. RR No. 14-2007 clarifies the tax treatment of microfinance services. RR No. 15-2007 allows abatement

Uploaded by

Mary Grace Caguioa Agas
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
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BUREAU OF INTERNAL REVENUE

2007 REVENUE REGULATION

2007 BUREAU OF INTERNAL REVENUE


REVENUE REGULATION
RR NO.

RR No. 1-2007

SUBJECT MATTER
Amends certain provisions of RR No. 4-2006 which implements the tax
privileges provisions of R.A. No. 9257, otherwise known as the Expanded
Senior Citizens Act of 2003
(published in Manila Bulletin on January 12, 2007)

RR No. 2-2007

Amends certain provisions of RR No. 16-2005, otherwise known as the


Consolidated Value-Added Tax Regulations of 2005
(published in Manila Bulletin on January 12, 2007)

RR No. 3-2007

Provides the policies, guidelines and procedures in the implementation of the


Expanded One-Time Administrative Abatement of all penalties/ surcharges and
interest on delinquent accounts and assessments
(published in Phil. Daily Inquirer on February 16, 2007)

RR No. 4-2007

Amends certain provisions of RR No. 16-2005, as amended, otherwise known


as the Consolidated Value-Added Tax Regulations of 2005
(published in Manila Bulletin on March 22, 2007)

RR No. 5-2007

Prescribes the guidelines and conditions for the tax treatment of Securities
Borrowing and Lending (SBL) or Securities Lending Transactions (SLTs)
involving the Fixed-Income Securities Lending Program of the Philippine
Dealing and Exchange Corporation (PDEx)
(published in Manila Bulletin on May 10, 2007)

RR No. 6-2007

Prescribes the consolidated regulations on advance Value-Added Tax on the


sale of refined sugar, amending and/or revoking all revenue issuances issued
to this effect, and for other related purposes
(published in Manila Bulletin on May 11, 2007)

RR No. 7-2007

Amends certain provisions of RR No. 21-2002 prescribing the manner of


compliance with any documentary and/or procedural requirements in
connection with the preparation and submission of financial statements
accompanying the tax returns
(published in Manila Bulletin on August 12, 2007)

RR No. 8-2007

Prescribes the additional compliance requirements of concerned taxpayers in


the light of mandatory adoption of the Philippine Financial Reporting
Standards
(published in Manila Bulletin on August 3, 2007)

RR No. 9-2007

Prescribes the updated minimum monthly/quarterly gross receipts in


computing the Percentage Tax of domestic carriers and keepers of garages
(published in Philippine Daily inquirer on August 3, 2007)

RR No. 10-2007

Amends further Section 3 of RR No. 9-2001 expanding the coverage of


taxpayers required to file returns and pay taxes through the Electronic Filing
and Payment System
(published in Philippine Star on August 3, 2007)

RR No. 11-2007

Suspends the implementation of Revenue Regulations No. 6-2007 entitled


Consolidated Regulations on Advance Value-Added Tax on the Sale of Refined
Sugar, Amending and/or Revoking All Revenue Issuances Issued to this Effect,
and for Other Related Purposes
(published in Manila Bulletin on August 29, 2007)

RR No. 12-2007

Amends certain provisions of Revenue Regulations No. 9-98 relative to the due
date within which to pay Minimum Corporate Income Tax imposed on domestic
corporations and resident foreign corporations
(published in Manila Bulletin on Oct. 19, 2007 )

RR No. 13-2007

Prescribes the policies and procedures for the advance payment of ValueAdded Tax/Percentage Tax on the transport of naturally grown planted timber
products
(published in Philippine Daily Inquirer on Dec. 7, 2007)

RR No. 14-2007

Clarifies the tax treatment of microfinance services rendered by NonGovernmental Organizations and cooperatives
(published in Manila Bulletin on Dec. 14, 2007)

RR No. 15-2007

Allows
the
abatement
of
disputed/litigated assessments

penalties/surcharges

(published in Manila Bulletin on Dec. 29, 2007)

and

interest

on

DATE OF ISSUE

11-Jan-07

11-Jan-07

14-Feb-07

20-Mar-07

7-May-07

9-May-07

1-Aug-07

1-Aug-07

1-Aug-07

1-Aug-07

28-Aug-07

17-Oct-07

5-Dec-07

12-Dec-07

28-Dec-07

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