KPMG in the Philippines has prepared discussions of the following guidance items:
| • | RR No. 7-2014 prescribes the rules for internal revenue stamps on imported and locally manufactured cigarettes. |
| • | RMC No. 70-2014 clarifies the requirements for issuing certifications on outstanding tax liabilities and/or delinquency verification slips for purposes of processing the payment of claims for tax refund, cash conversion of tax credit certificates, and value added tax (VAT) monetization. |
| • | RMC No. 73-2014 clarifies the appropriate withholding tax rates on dividend payments to Philippine Central Depository nominees by issuers of securities. |
