Noticias de dinero

Controversial new source rules for cross-border services

IN its Revenue Memorandum Circular (RMC) 5-2024, the Bureau of Internal Revenue (BIR) is espousing new rules regarding the situs or source of income. RMC 5-2024 sprung from the Supreme Court decision in Aces Philippines Cellular Satellite Corp. v Commissioner of Internal Revenue, GR 226680, Aug. 20, 2022 (Aces case), involving payment of satellite airtime

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Noticias de dinero

New year, new tax rule for cross-border services

IT is an elementary rule in taxation that a foreign corporation, whether or not engaged in trade or business in the Philippines, is taxable only on income derived from sources within the Philippines. Section 42(A)(3) in relation to Section 42(C)(3) of the Tax Code treats compensation for labor or personal service as income from Philippine

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Noticias de dinero

Singapore and Indonesia launch cross-border QR-code payments

SINGAPORE: Singapore and Indonesia launched cross-border payment services on Friday, the countries’ central banks said, as part of a regional drive to boost connectivity. Customers of a dozen banks in Singapore and Indonesia will now be able to make payments to merchants in both countries by scanning QR codes, Bank Indonesia and the Monetary Authority

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Noticias de dinero

China cross-border e-commerce expands | The Manila Times

BEIJING: China’s cross-border e-commerce has sustained a steady expansion against global uncertainties as many e-commerce platforms step up investment and innovation in logistics and retail services to improve the shopping experience for global consumers. Initial estimates show that the imports and exports of China’s cross-border e-commerce amounted to about 1.7 trillion yuan (about $232.6 billion)

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