Lobaton Gascon & Associates Co.

17/09/2026

ADVISORY
Please be guided accordingly

14/09/2026

TAX DEADLINES
September 15, 2026 (Tuesday)

14/09/2026

Memorandum Circular No. 97-2026 circularizes ERC Resolution No. 26 and formally recognizes the allowable system loss charge within the ERC-approved cap as a government-mandated charge excluded from gross sales for VAT purposes.

The BIR said it is therefore not subject to output VAT and creditable withholding on VAT.

The exclusion, however, does not extend to income tax and the corresponding creditable withholding tax.

MANILA – The Bureau of Internal Revenue (BIR) issued a memorandum circular on Monday, removing the value-added tax (VAT) on the allowable system loss charge within the cap approved by the Energy Regulatory Commission (ERC). Memorandum Circular No. 97-2026 circularizes ERC Resolution No. 26 and…

14/09/2026

RMC No. 97-2026

Circularizing Energy Regulatory Commission Resolution No. 26, Series of 2026, Declaring the System Loss Charge as a Government-Mandated Pass-Through Cost Not Forming Part of the Gross Sales of Generation Companies, National Grid Corporation of the Philippines, and Distribution Utilities for Value-Added Tax Purposes, and Further Amending Revenue Memorandum Circular No. 116-2024

September 14, 2026

09/09/2026

TAX DEADLINES
September 10, 2026 (Thursday)

03/09/2026

MANILA – The Bureau of Internal Revenue (BIR) is set to issue a memorandum circular removing the value-added tax (VAT) on allowable system loss charges in electricity bills. This complies with President Ferdinand R. Marcos Jr.’s directive to review and clarify tax rules that can provide…

29/08/2026

BIR Deadlines
September 01, 2026 (Tuesday)

29/08/2026

The Bureau of Internal Revenue (BIR) has identified businesses that report large sales but continue to lose money, pay income tax equivalent to less than 2% of their revenue, or show unusual changes in their value-added tax (VAT) filings as priority cases under a revamped audit program.

Full story in the comments.

26/08/2026

The Bureau of Internal Revenue (BIR) is subjecting its tax investigators to a second tier of scrutiny, introducing a revalidation process to eliminate calculation errors and enforce legal compliance across all assessment issuances.

Read the full article in the comments section below.