Country: Philippines
Compliance category: Income Tax (BIR) Reporting
Regulatory Information:
Regulation: BIR E-Submission Facility
Notification/Circular No: Revenue Memorandum Circular No. 015-2025
Notification date: February 25, 2025
Source: Alphalist Data Entry and Validation Module Update
Annexes A
Annexes B
Updates in Compliance:
Summary:
The Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular (RMC) No. 015-2025 to announce the availability of the Alphalist Data Entry and Validation Module Version 7.4. This updated version includes newly created alphanumeric tax codes and updated rates for transactions under creditable and final withholding taxes.
Effective Date: February 25, 2025
Key points of the update:
| Key Points | Details |
| Module Update | Alphalist Data Entry and Validation Module Version 7.4 is now available. |
| Submission Deadline | Alphalists for 2024 taxable year must be submitted within 30 days from the circular’s posting on the BIR website. |
| Resubmission Required | Taxpayers who submitted using Version 7.3 and received errors must resubmit using Version 7.4 within 30 days. |
| Custom Extract Programs | Taxpayers using custom programs must follow revised file structures and naming conventions (Annexes “A” and “B”). |
Our Analysis:
The update aims to streamline tax reporting and reduce filing errors, improving data accuracy for BIR. Businesses that adapt quickly may benefit from faster processing times and reduced audit risks.
Ensuring accurate tax collection helps government revenue, potentially leading to improved public services and infrastructure.
