The Bureau of Internal Revenue said it is currently in the midst of preparations for the implementation of Republic Act No. 10963, or the “Tax Reform for Acceleration and Inclusion.”
The agency asked all taxpayers to read the provisions of the law and to participate in public consultations and briefings to be conducted by the BIR where they could air their views, comments and recommendations.
RA 10963 was signed into law by President Rodrigo Roa Duterte who vetoed certain line items in the law.
The BIR asked the taxpayers to make clarifications of certain provisions of the law with the BIR national, regional and district offices to help the various committees established by the bureau to craft the implementing rules and regulations.
The bureau is set to conduct public consultations on the proposed implementing rules for income tax, excise tax (sweetened beverage tax), value added tax and excise tax (cosmetic procedures) on Jan. 11 and 12 at the BIR National Training Center in Diliman, Quezon City.