BIR moves to plug tax leaks from related-party transactions

To plug hefty tax leakages from local and foreign deals involving related parties, the Bureau of Internal Revenue (BIR) on Friday mandated reporting of these types of transactions. The country’s biggest tax-collection agency published Revenue Regulations (RR) No. 19-2020 signed by Finance Secretary Carlos G. Dominguez III and Internal Revenue Commissioner Caesar R. Dulay, which […]