Friday November 24 , 2017
Revenue Memorandum Circular No. 37-2014 - Entry into Force, Effectively and Applicability of the Philippines-Kuwait Double Taxation Agreement

Revenue Memorandum Circular No. 37-2014 - Entry into Force, Effectively and Applicability of the Philippines-Kuwait Double Taxation Agreement

On May 8, 2014, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 37-2014  regarding the applicability of the Philippines-Kuwait Double Taxation Agreement entitled “Agreement between the Government of the Philippines and the Government of the State of Kuwait for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income” which was entered into force on April 22, 2013.

The provisions on taxes on income of the Agreement shall apply to income derived or accrued beginning January 1, 2014.

Despite the Deutsche Case where the Supreme Court ruled for the automatic application of tax treaties, the BIR imposed a prerequisite before the Philippine-Kuwait Tax Treaty may take effect.  According to the BIR, Tax Treaty Relief Applications (TTRAs) invoking the Philippine-Kuwait Agreement should first be filed and addressed to the International Tax Affairs Division (ITAD) of the BIR, together with duly accomplished BIR Form 0901 (Application for Relief from Double Taxation) and other documentary  requirements pursuant to Revenue Memorandum Order (RMO) No. 72-2013 before the tax treaty relief may be enjoyed.

File name: RMC No 37-2014.pdf
File size: 42.66 KB
File type: application/pdf
Hits: 1199  Hits
Created date: Tuesday May 20, 2014 04:21:16
Last updated date: Tuesday May 20, 2014 04:21:16
Download in: Lifetime

Search Document

Keyword
Category

Shopping Cart

There are 0 items in your cart