Mapano Portes Marqueda & Co., CPAs

10/08/2026

𝗕𝗜𝗥 𝗘𝗫𝗣𝗔𝗡𝗗𝗦 𝗟𝗜𝗦𝗧 𝗢𝗙 𝗩𝗔𝗧-𝗘𝗫𝗘𝗠𝗣𝗧 𝗠𝗘𝗗𝗜𝗖𝗜𝗡𝗘𝗦 𝗧𝗢 𝗘𝗔𝗦𝗘 𝗛𝗘𝗔𝗟𝗧𝗛𝗖𝗔𝗥𝗘 𝗖𝗢𝗦𝗧𝗦 𝗙𝗢𝗥 𝗙𝗜𝗟𝗜𝗣𝗜𝗡𝗢𝗦

As part of the government’s continuing efforts to make healthcare more accessible and affordable, the Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 87-2026, publishing the updated list of Value-Added Tax (VAT)-exempt medicines endorsed by the Food and Drug Administration (FDA) pursuant to Republic Act No. 10963 (TRAIN Law) and Republic Act No. 11534 (CREATE Act).

The issuance supports President Ferdinand R. Marcos Jr.’s directive during his 2026 State of the Nation Address (SONA) to expand access to quality healthcare by reducing the cost of essential medicines.

BIR Commissioner Charlito Martin R. Mendoza emphasized the Bureau’s commitment to implementing tax policies that directly improve the lives of Filipinos.

“The Bureau remains steadfast in implementing tax policies that directly benefit our people. By expanding the list of VAT-exempt medicines, we are helping make essential healthcare more affordable while supporting the President’s vision of a healthier and more resilient Philippines,” Commissioner Mendoza said.

With the latest update, the number of VAT-exempt medicines has increased to 2,277, including 14 newly added medicines. The expanded coverage helps reduce out-of-pocket medical expenses, particularly for Filipinos undergoing long-term treatment for chronic and life-threatening illnesses.

The updated list now covers medicines used in the treatment of:

* Cancer – 708 medicines

* Hypertension – 537 medicines

* Diabetes – 331 medicines

* Mental Illness – 300 medicines

* High Cholesterol – 172 medicines

* Kidney Disease – 152 medicines

* Tuberculosis – 77 medicines

Every peso saved through the VAT exemption helps families continue treatment, purchase essential medicines, and better manage their daily needs.

By making healthcare more affordable, the government also supports better treatment outcomes and improves the quality of life of millions of Filipinos.

While the Bureau continues to fulfill its mandate of generating revenues for national development, it likewise ensures that the tax system delivers meaningful and tangible benefits to the Filipino people.

For more information, you may access:

Revenue Memorandum Circular No. 87-2026
https://bir-cdn.bir.gov.ph/BIR/pdf/RMC%20No.%2087-2026_redacted.pdf

Updated Full List of VAT-Exempt Medicines (Annex A)
https://bir-cdn.bir.gov.ph/BIR/pdf/RMC%2087-2026%20Annex%20A%20(6).pdf

10/08/2026

📢 𝐏𝐔𝐁𝐋𝐈𝐂 𝐀𝐃𝐕𝐈𝐒𝐎𝐑𝐘 | 𝐄𝐗𝐓𝐄𝐍𝐒𝐈𝐎𝐍 𝐎𝐅 𝐓𝐀𝐗 𝐃𝐄𝐀𝐃𝐋𝐈𝐍𝐄𝐒

In view of the continued heavy rainfall brought about by the Southwest Monsoon, the Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular No. 089-2026, extending certain tax filing, payment, and submission deadlines for taxpayers within affected Revenue District Offices, including 𝐑𝐃𝐎 𝐍𝐨. 𝟒𝟑 – 𝐏𝐚𝐬𝐢𝐠 𝐂𝐢𝐭𝐲.

📌 𝐄𝐗𝐓𝐄𝐍𝐃𝐄𝐃 𝐃𝐄𝐀𝐃𝐋𝐈𝐍𝐄: 𝐀𝐔𝐆𝐔𝐒𝐓 𝟏𝟕, 𝟐𝟎𝟐𝟔

For the complete details and coverage, please refer to
𝐑𝐌𝐂 𝐍𝐨. 𝟎𝟖𝟗-𝟐𝟎𝟐𝟔.

28/07/2026

27/07/2026

Bureau of Internal Revenue (BIR) has released new guidelines clarifying its one-time tax abatement program for micro taxpayers, helping small businesses settle qualified tax liabilities and penalties incurred on or before December 31, 2025. The directive also explains eligibility requirements and outlines how taxpayers can verify their status through the BIR Online Registration and Update System (ORUS) or their respective Revenue District Offices.

The circular provides step-by-step procedures for filing applications, calculating the one-time abatement fee, and resolving pending tax cases, including partial payments and open-case penalties. The BIR said approved applicants will receive a Certificate of Availment, confirming that their covered tax liabilities and penalties have been legally cleared.

24/07/2026

2nd Quarter 2026 BIR Deadlines❗️

📢 Attention RDO 105 Taxpayers: 2nd Quarter 2026 Deadlines!
Filing season is here! If you are registered under RDO 105 (Surigao Del Norte and Dinagat Islands), it is time to prepare your tax returns for the April to June 2026 period.

Be sure to file and pay early to avoid last-minute stress, long lines, and unnecessary penalties!

🗓️ Important Due Dates to Remember:
July 25, 2026: Deadline for Form 2551Q (Quarterly Percentage Tax) and Form 2550Q (Quarterly Value-Added Tax).

July 31, 2026: Deadline for Form 1601EQ (Withholding Tax – Expanded).

August 15, 2026: Deadline for Form 1701Q (Quarterly Income Tax for Individuals, Estates & Trusts).

Let's fulfill our part in nation-building! 🇵🇭

02/07/2026

𝗡𝗲𝘄 𝗧𝗮𝘅𝗽𝗮𝘆𝗲𝗿 𝗚𝘂𝗶𝗱𝗲 𝗔𝗹𝗲𝗿𝘁!

Pursuant to RMC No. 64-2026, existing registered business taxpayers with no changes in their registration information may now generate their Registration Seal Badge via ORUS.

Learn who may avail and how to generate the Seal Badge.

Swipe through our Taxpayer Guide and stay compliant.

02/07/2026

FREE REGISTRATION❗️

Starting a business? Running one already?

Confused about business registration and taxes? You're not alone!

Whether you're an aspiring entrepreneur or an existing MSME, this webinar is designed to help you better understand your responsibilities as a business owner.

📢 Taxes Made Easy: Ready, Set, File!

🗓 July 16, 2026 (Thursday)
🕗 8:00 AM – 12:00 NN
💻 Via Zoom Meeting
📱 Live on the DTI Cavite page

Learn the essentials of:
✅ Business Registration Requirements
✅ Permits and Documents Needed
✅ Filing Procedures, Deadlines and Compliance

✨ All explained in a simple and practical way to help you confidently manage your business and stay compliant with government regulations.

📌 Registration is FREE!
Secure your slot by scanning the QR code or clicking the registration link below. 🔗https://forms.gle/2xsADJkLRUnED53X7

02/07/2026

Important Dates to Remember this 2nd Quarter❗️

02/07/2026

Tax Clearance Certificate for Final Settlement of Government Contracts (TCFG)

Government contractors with existing contracts are reminded to comply with the requirements for the issuance of a Tax Clearance Certificate for Final Settlement of Government Contracts (TCFG). This process helps ensure that taxes withheld from payments to private contractors are properly paid and remitted by government agencies prior to the release of the final settlement.

📌 Reminder on Accomplishing Annex “C”

The Collectible Final Payment should reflect the amount NET OF:
✔️ Withholding Taxes
✔️ Retention Money (if applicable)

📌 Additional Reminder

If there is Retention Money, the taxpayer may subsequently apply for a Tax Clearance Certificate – General Purpose (TCGP) for the release of the retention money, if fully warranted.

📌 Important Note

If the taxpayer is deceased, the Tax Clearance Certificate for Final Settlement of Government Contracts (TCFG) shall still be issued under the taxpayer’s name (deceased) and not under the “Estate of.”

The taxpayer’s representative may sign the application form and submit proof of relationship (e.g., Birth Certificate or Marriage Certificate, as applicable) in lieu of a Special Power of Attorney (SPA).

For inquiries and assistance, please contact your respective Revenue District Office.

27/06/2026

𝗤𝗨𝗘𝗦𝗧𝗜𝗢𝗡: Ang ₱5,000 ba ay one-time payment para sa lahat ng years, o ₱5,000 bawat year?

𝗔𝗡𝗦𝗪𝗘𝗥: Based mismo sa RR No. 4-2026, ang ₱5,000 ay per accepted application.

At dahil malinaw sa Section 6 na ang application ay dapat i-file on a per taxable year basis, effectively, ₱5,000 ito for each taxable year na may qualified at accepted application.

Hindi siya ₱5,000 per tax type.

At hindi rin siya isang ₱5,000 payment na automatic nang sasakop sa lahat ng open years.

Example #1:

May open cases ka for 2024 involving:

‣ Income Tax
‣ Percentage Tax
‣ Withholding Tax

Since pare-pareho silang para sa taxable year 2024, ilalagay ang lahat ng covered tax types at amounts sa application for 2024.

Kung qualified ang cases at pasok ang total sa ₱80,000 threshold, ang abatement fee ay ₱5,000 for the accepted 2024 application.

Example #2:

May qualified open cases ka for:

‣ 2020
‣ 2021
‣ 2022
‣ 2023
‣ 2024
‣ 2025

Separate application ang kailangan for each taxable year.

Kung lahat ng anim na applications ay qualified at accepted, ang total abatement fee ay:

6 years × ₱5,000 = ₱30,000

Pero importante rin ito...

Hindi automatic na magbabayad ka ng ₱5,000 para sa bawat taon mula noong tumigil ang business mo.

Magbabayad ka lamang para sa taxable year na:

1. May covered case;
2. Pasok sa qualifications;
3. Pasok sa ₱80,000 threshold; at
4. May application na tinanggap ng BIR.

𝗔𝗻𝗼 𝗻𝗮𝗺𝗮𝗻 𝗮𝗻𝗴 ₱𝟴𝟬,𝟬𝟬𝟬 𝗹𝗶𝗺𝗶𝘁?

Under Section 4, ang ₱80,000 threshold ay hindi per tax type.

Total ito ng covered basic tax liabilities and/or penalties involving all covered cases for the same taxable year.

Halimbawa for 2024:

Income Tax case: ₱30,000
Percentage Tax case: ₱20,000
Withholding Tax case: ₱15,000

Total for 2024: ₱65,000

Potentially pasok sa ₱80,000 threshold, subject sa ibang qualifications at BIR validation.

Pero kung ang combined covered amount for 2024 ay ₱90,000, hindi na yun pasok sa ₱80,000 limit.

Hindi rin pwedeng piliin lang ang isang tax type at itago o ihiwalay ang iba para magkasya sa threshold.

Sinasabi sa Section 6 na kailangang i-specify sa application ang tax types at basic amount due for each covered case. Failure to include a covered case may result in denial of the application.

Sa side ng taxpayer, malaking opportunity ito para ma-resolve ang old cases nang hindi na kailangang bayaran ang buong accumulated tax, interest at penalties, provided na qualified talaga. Pero hindi rin ito shortcut na ₱5,000 lang, closed na lahat. Kailangan pa ring kumpleto at accurate ang disclosure, dahil isang hindi naisamang tax type o covered case ay maaaring makaapekto sa application.

Sa side naman ng BIR, practical din ang program. Instead na gumastos pa ng oras at resources sa paghabol sa low-value at matagal nang dormant cases, nakakakuha sila ng fixed ₱5,000 sa bawat accepted application habang nalilinis din ang taxpayer records. Maganda ang setup para sa magkabilang side, pero ang tunay na value nito ay nakadepende sa malinaw, consistent at transparent na implementation.

𝗕𝗢𝗧𝗧𝗢𝗠 𝗟𝗜𝗡𝗘:

✅ ₱5,000 per accepted application
✅ One application per taxable year
✅ Not ₱5,000 per tax type
✅ Multiple qualified years mean multiple applications and corresponding ₱5,000 fees
✅ All covered tax types for the same year must be disclosed
✅ The ₱80,000 threshold is tested per taxable year

Kaya ang “one-time abatement program” ay hindi ibig sabihin na isang ₱5,000 lang para sa lahat ng open years.

Ang actual procedure under the regulation is per taxable year.

PS:
Katatapos lang ng VAT Bookkeeping Pro for Individual Taxpayers. Kung gusto mo ma-access yung replay, sali ka dito:
👉 EC TAXPH Business Community

Pagpasok mo sa group, click FEATURED post for complete details.

Comment "books" para ma-approve ko agad yung request mo.