14 July 2016 New Philippine Tax Commissioner suspends automatic application of treaty rates on dividends, interest and royalties, and field investigation for tax audits The new Philippine Commissioner of Internal Revenue issued Revenue Memorandum Circulars 69-2016 (RMC 69-16) and 70-2016 (RMC 70-16) on July 1. Under RMC 69-16, the Commissioner has suspended the automatic application of treaty rates on dividends, interest and royalties. Under RMC 70-16, the Commissioner has suspended the field investigation for tax audits. A Tax Alert prepared by EY's Global Tax Desk Network, and attached below, provides additional details. Document ID: 2016-1218 |
