BUREAU OF INTERNAL REVENUE

2008 REVENUE REGULATION

2008 BUREAU OF INTERNAL REVENUE

REVENUE REGULATION
RR NO.
RR No. 1-2008

SUBJECT MATTER
Amends certain provisions of RR No. 10-2006, which prescribes the
guidelines and conditions for the tax treatment of Securities Borrowing
and Lending transactions involving shares of stocks or securities listed in
the Philippine Stock Exchange

(published in Manila Bulletin on February 7, 2008)

RR No. 2-2008

Amends certain rules and regulations relative to the collection and

remittance of taxes paid to Authorized Agent Banks (AABs) thru Overthe-Counter and Electronic Filing and Payment System and further
amends the Memorandum of Agreement relative to the accreditation of
the AABs
(published in Manila Bulletin on March 2, 2008)

RR No. 3-2008

Amends certain provisions of existing Revenue Regulations on the

granting of outright Excise Tax exemption on removal of excisable
articles intended for export or sale/delivery to international carriers or to
tax-exempt entities/agencies and prescribes the provisions for availing
claims for product replenishment

(published in Phil. Daily Inquirer on March 9, 2008)

RR No. 4-2008

Amends the venue for filing of tax returns and payment of Capital Gains
Tax, Creditable Withholding Tax and Documentary Stamp Taxes due on
onerous transfers of real propertis owned by taxpayers classified as large
taxpayers
(published in Philippine Star on April 18, 2008)

RR No. 5-2008

Further amends Revenue Regulations (RR) Nos. 2-98 and 3-98, as last
amended by RR No. 10-2000, with respect to "De Minimis Benefits"
(published in Manila BUlletin on april 25, 2008)

RR No. 6-2008

Consolidates the regulations prescribing the rules on the taxation of sale,

barter, exchange or other disposition of shares of stock held as capital
assets
(published in Manila Bulletin on May 5, 2008)

RR No. 7-2008

Prescribes the regulations to govern the taxation on the sale to the

Bangko Sentral ng Pilipinas of gold and other metallic mineral products
extracted or produced by small-scale miners and further amends RR No.
2-98, as amended
(published in Manila Bulletin on May 12, 2008)

RR No. 8-2008

Supplements RR No. 09-2004, as amended by RR No. 10-2004, by

clarifying that the transactions of Bangko Sentral ng Pilipinas entered into
in the exercise of its governmental/regulatory authority are outside of the
coverage of the Gross Receipts Tax

(published in Philippine Star on August 30, 2008)

RR No. 9-2008

Prescribes the manner of computing the basis of the 15% share of the
beneficiary provinces in the Excise Tax collection from locally
manufactured Virginia-type cigarettes
(published in Philippines Star on September 15, 2008)

RR No. 10-2008

Implements certain provisions of RA No. 9504 entitled "An Act Amending

Sections 22, 24, 34, 35, 51 and 79 of RA No. 8424, as Amended,
Otherwise Known as the National Internal Revenue Code" relative to the
withholding of Income Tax on compensation and other concerns

(published in Philippine Star on September 25, 2008)

RR No. 11-2008

Consolidates and updates all existing Revenue Regulations on primary

registration, its updates and cancellation
(published in Philippine Star on September 26, 2008)

RR No. 12-2008

Prescribes the manner of computing the basis of the 15% allocable share
of the beneficiary provinces in the Excise Tax collection from locally
manufactured Viginia-type cigarettes
(published in Philippine Star on September 27, 2008)

RR No. 13-2008

Consolidates regulations on advance Value-Added Tax on the sale of

refined sugar and amends and/or revokes all revenue issuances issued
to this effect and for other related purposes
(published in Philippine Star on October 7, 2008)

RR No. 14-2008

Amends further Section 2.57.2(M) of RR No. 2-98, as amended,

increasing the coverage of withholding tax agents who are required to
withhold 1% from regular suppliers of goods and 2% from regular
suppliers of services from the top 10,000 to top 20,000 private
corporations
(published in Manila Bulletin on December 10, 2008)

RR No. 15-2008

Prescribes the manner of computing the incremental revenue to be used

as basis of the 15% share of the beneficiary provinces producing burley
and native tobacco in the Excise Tax collection from tobacco products
under R.A. No. 8240

(published in Manila BUlletin on December 12, 2008)

RR No. 16-2008

Implements the provisions of Section 34(L) of the Tax Code of 1997, as

amended by RA No. 9504, on the Optional Standard Deduction allowed
to individuals and corporations in computing their taxable income

(published in Philippine Star on December 20, 2008)

DATE OF ISSUE
February 05, 2008

February 29, 2008

March 07, 2008

April 17, 2008

April 23, 2008

May 02, 2008

May 02, 2008

August 29, 2008

September 12, 2008

September 24, 2008

September 24, 2008

September 25, 2008

October 06, 2008

December 08, 2008

December 10, 2008

December 18, 2008