TRAIN Law implementing rules and regulations

It’s been 6 months now since TRAIN Law took effect. Let’s see how BIR did so far with regards to implementing the controversial law.

RMC No. 50-2018 clarifying provisions of RRs 8-2018 and 11-2018

The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 50-2018 clarifying certain provisions of Revenue Regulations (RR) Nos. 8-2018 and 11-2018 implementing the income tax provisions, including its consequent withholding tax, of Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) Act.