Mandaluyong City – The Bureau of Local Government Finance (BLGF) OIC Executive Director Ma. Pamela P. Quizon discussed the local tax reminders and updates during the Philippine Institute of Public Accountants (PICPA) 2023 Tax Reminders and Updates event held on 07 March 2023 at the EDSA Shangri-la Hotel in Mandaluyong City.
In the said event, OIC Executive Director Quizon underscored the role of the BLGF in managing the fiscal and financial affairs of local government units (LGUs).
“The BLGF is the arm of the Department of Finance (DOF) directly responsible over the fiscal and financial affairs of local government units (LGUs). Under a decentralized environment, the BLGF aims to provide a catalytic role in the effective and sustainable management of fiscal and financial resources of LGUs, transforming them into self-reliant communities. The BLGF is vigilant and dedicated to the pursuit of the development and professionalization of its employees, including the local treasury and assessment services in the LGUs”, OIC Executive Director Quizon said.
Quizon also presented the BLGF Memorandum Circular Nos. 01-001-2017 and 001.2020 issued on 05 January 2017 and 02 January 2020, setting the reminders on the assessment of the local business tax (LBT), registration, and renewal of business permits and licenses and payment of community tax.
Also discussed in the said event are the updates on the RPVAR bill and the latest policies on local taxation: (i) Department Circular No. 01.2022 issued on 07 March 2022: Supplemental Guidelines on the Grant of Relief on Surcharges and Interests on tax on Transfer of Real Property Ownership in Support of the Extension of the Estate Tax Amnesty Program; (ii) Local Finance Circular No. 01.2022 issued on 01 September 2022: Guidelines on the Imposition of Local Business Tax, Fees, and Charges to Service Contractors; (iii) Joint Memorandum Circular (JMC) No. 01, s. 2021 of the Department of Interior and Local Government (DILG), Anti-Red Tape Authority (ARTA), and DOF issued on 28 April 2021: Omnibus Guidelines on the Suspension of LGU Imposition and Collection of Illegal Fees and Taxes Relative to the Transport of Goods and Products; (iv) BLGF Memorandum Circular dated 07 July 2021: Implementing Rules and Regulations of the Corporate Recovery and Tax Incentives (CREATE) Concerning LGUs; and (v) BLGF Memorandum Circular No. 002.2023: Fiscal Incentives Review Board (FIRB) Issuances on the Implementation of the Work-from-home (WFH) arrangement of the IT-BPM Sector, and the Penalty for the Non-Compliance Thereof.