The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular 22-2022 on Feb. 21, 2022, to remind all candidates, political parties, and campaign contributors of their obligations with the BIR in line with the upcoming national and local elections. Thus, they shall comply with the following requirements:

All candidates, political parties and party-list groups who fail to comply with the aforementioned shall besubject to the revised consolidated schedule of compromise penalties under Revenue Memorandum Order 7-2015.

P&A Grant Thornton

Certified Public Accountants