Deductible Business Expenses in the Philippines: Requirements, Withholding Tax, SLSP and How to Avoid BIR Disallowance

Every peso you spend to run your business can lower your income tax, but only if the Bureau of Internal Revenue (BIR) agrees it is deductible. In an audit, the BIR doesn't start from your profit and loss statement. It starts from your documents. An expense without the right invoice, booked in the wrong year, or paid to a supplier that never declared the sale can be disallowed, and a disallowed expense becomes taxable income with interest and penalties on top.

This guide is for business owners, finance staff and bookkeepers of corporations and self-employed individuals who claim itemized deductions. You'll get the legal requirements under Section 34 of the Tax Code, the withholding tax rates and alphanumeric tax codes (ATCs) for common expenses, the special caps and limits, the Summary List of Sales and Purchases (SLSP), and a quarterly workflow that makes each expense audit-ready.

It reflects the rules as of October 2026, including a change many businesses still miss: the Ease of Paying Taxes (EOPT) Act repealed the rule that an expense is deductible only if its withholding tax was paid. That doesn't make withholding optional, as you'll see below.

Key takeaways

• You can only claim actual expenses if you itemize. Corporations and individuals may instead take the 40% optional standard deduction (OSD). Self-employed individuals on the 8% income tax option can't deduct expenses at all.
• An expense must be ordinary and necessary, paid or incurred in the taxable year, connected to your business and substantiated. Under RR 7-2024, the substantiating document for a purchase is now an invoice issued in your registered name and TIN. An official receipt is only a supplementary proof of payment.
• Not withholding no longer kills the deduction for 2024 onwards. The EOPT Act (RA 11976) repealed Section 34(K) effective January 22, 2024. RMC 60-2024 says expenses from taxable year 2024 are deductible even if no tax was withheld, but you remain liable for the unwithheld tax. For years before 2024, the old rule still applies.
• Common expanded withholding tax (EWT) rates under RR 11-2018: 5% on rent, 2% on contractors, 5% or 10% on individual professionals, and 10% or 15% on corporate professionals. Top withholding agents also withhold 1% on goods and 2% on services from regular suppliers.
• Some expenses have hard caps. Entertainment, amusement and recreation (EAR) is capped at 0.5% of net sales for sellers of goods and 1% of net revenue for sellers of services. Interest expense is reduced by 20% of interest income subjected to final tax. Charitable contributions are capped at 10% of taxable income for individuals and 5% for corporations, except fully deductible donations.
• Each disallowed ₱1,000,000 costs a regular corporation ₱250,000 in basic income tax at the 25% CREATE rate, or ₱200,000 at the 20% rate for qualifying smaller corporations. Interest and surcharges come on top.
• Keep records for 5 years. Under Section 235 as amended by the EOPT Act, the 5 years run from the day after the deadline for filing the return for the year of the last entry.

Overview

A deduction is the end of a chain. It starts when you choose a supplier and ends when the BIR matches your purchase records against your supplier's declared sales. A break anywhere in the chain is what auditors look for.

The chain has four links:

1. The legal test. Section 34 of the National Internal Revenue Code (NIRC or Tax Code), as amended by the TRAIN Law (RA 10963), CREATE (RA 11534) and the EOPT Act (RA 11976), lists what you may deduct and the limits.
2. The document. RR 7-2024 makes the invoice the principal evidence of every sale of goods and services.
3. The withholding. RR 2-98, as amended by RR 11-2018 and later issuances, tells you how much tax to withhold from each payment, when to remit it and what certificates to issue.
4. The reporting. Your withholding returns, the Quarterly Alphalist of Payees (QAP), the SLSP and your annual information returns tell the BIR whom you paid. The BIR compares them with what your suppliers reported.

Who does what

Itemized deductions vs. OSD vs. 8%

Itemizing makes sense when your real deductible costs are above 40% of your gross sales or gross income and you can document them. A trading company with thin margins, a business with high payroll, or a startup with heavy setup costs usually does better itemizing. A consultant with few costs often does better with OSD or the 8% option. The OSD election is made in the return and is irrevocable for that taxable year.

Timeline

Expense compliance runs on a quarterly cycle. The chart shows a calendar quarter (days 1 to 90) and the 30 days after it, using the first quarter as the example (January 1 to April 30).

The third month of each quarter has no 0619-E; its withholding goes straight into the 1601-EQ. The chart assumes a calendar-year taxpayer filing on time with complete documents. Deadlines move to the next working day when they fall on a weekend or holiday, and your RDO or the BIR may extend them by circular.

Requirements

Legal requirements for any deductible expense

• [ ] Ordinary and necessary. Normal for your kind of business and appropriate for earning income (Section 34(A)(1)(a)).
• [ ] Paid or incurred within the taxable year. Accrual-basis taxpayers deduct an expense in the year the liability becomes fixed and its amount is reasonably determinable. The Supreme Court applied this "all-events test" in CIR v. Isabela Cultural Corporation (G.R. No. 172231, 2007) and disallowed expenses claimed in the wrong year.
• [ ] Directly connected to your trade, business or profession. Personal expenses fail this test.
• [ ] Substantiated. Section 34(A)(1)(b) requires sufficient evidence of the amount and of the direct connection to your business.
• [ ] Not contrary to law, morals, public policy or public order. Bribes, kickbacks and similar payments are never deductible.
• [ ] Within any cap for that type of expense.

Documents for each purchase

• [ ] Invoice in your registered name and TIN. Under Section 237 as amended by the EOPT Act, invoices are required for sales of ₱500 or more and must show the name, TIN, date, quantity, unit cost and description. For sales of ₱1,000 or more to a VAT-registered buyer, Section 113 requires the buyer's name, address and TIN.
• [ ] Proof of payment. Bank transfer record, check voucher, or a supplementary official receipt.
• [ ] Supplier's Form 2303 on file, so you know they are registered and whether they are VAT or non-VAT.
• [ ] Contract, purchase order or service agreement for recurring or large costs.
• [ ] Form 2307 copy you issued, when the payment is subject to EWT.
• [ ] Liquidation report with invoices for cash advances, travel and per diem.

Official receipts are no longer principal documents. Under RR 7-2024, the invoice is the primary evidence of a sale of goods or services. RR 11-2024 (June 13, 2024) let sellers convert unused official receipts into invoices by stamping them "Invoice," and converted receipts issued from April 27, 2024 can support the buyer's input VAT if no required information is missing. Unconverted official receipts issued from April 27, 2024 are only supplementary documents and can't support input VAT. For income tax, treat a bare official receipt as weak evidence and ask the supplier for an invoice.

Withholding and reporting records

• [ ] Monthly 0619-E remittance forms and quarterly 1601-EQ returns with the QAP.
• [ ] Annual 1604-E with the annual alphalist of payees, due March 1.
• [ ] For payroll: monthly withholding on compensation, Form 2316 for each employee, and the 1604-C with alphalist, due January 31.
• [ ] For payments to nonresidents: final withholding tax returns and Form 2306 certificates.
• [ ] Quarterly SLSP, if you are VAT-registered.

Extra documents for special expenses

• [ ] Vehicles: purchase invoice showing price, engine and chassis numbers, plus proof the vehicle is used in the business.
• [ ] Bad debts: proof the debt is valid, collection efforts, the write-off entry and the basis for concluding it is worthless.
• [ ] Inventory losses: the BIR-witnessed destruction documents and the Certificate of Deductibility under RMO 21-2020.
• [ ] Donations: the donee's accreditation and the donation certificate.
• [ ] Related-party charges: intercompany agreements and transfer pricing support.

Step-by-step procedure

Step 1: Onboard every supplier properly

Before the first payment, get the supplier's Form 2303, TIN, registered name and address, and VAT status. Check that the registered name matches the one on their invoice. For individuals who claim the lower 5% professional fee rate, get their sworn declaration of gross income and a copy of their Certificate of Registration as RR 11-2018 requires. Where: your procurement or accounts payable team. Processing time: one day per supplier.

Step 2: Issue a purchase order or contract

Write down what you are buying, the price, whether the price is VAT-inclusive, and who bears the withholding tax. This settles disputes later about gross-up and net pay. It also supports the business purpose of the expense.

Step 3: Receive a compliant invoice

Check every invoice before you pay. It must be in your registered name, show your TIN, describe the goods or service, and come from the supplier's registered series. Under RR 6-2026, an invoice for a transaction subject to creditable withholding tax should also show the CWT as a separate item. RMC 112-2026 says a missing CWT line doesn't by itself disallow your properly substantiated expense. See our guide on CWT on invoices and our explainer on what happened to official receipts.

Step 4: Withhold the right tax and pay the net amount

Use the rate table below. Since the EOPT Act, the obligation to withhold arises when the income payment becomes payable. Book the withholding as a liability when you accrue the expense.

A few notes on this table:

• Top withholding agents. You are one only if the BIR has classified and notified you, under the criteria in RR 11-2018 as amended by RR 7-2019 and RR 31-2020. A single purchase of ₱10,000 or more from a non-regular supplier is also covered. RR 24-2025, effective October 10, 2025, keeps the 1% and 2% rates and adds a 0.5% rate for payments to manufacturers and direct importers of motor vehicles, medicines and fuels for wholesale. Check the BIR's current ATC list for that rate.
• Treaty rates need the documentation the BIR requires for treaty relief. If in doubt, withhold at the statutory rate.

Step 5: Remit and file on time

File the 0619-E by the 10th day of the following month (15th for eFPS filers) for the first two months of the quarter. File the 1601-EQ with the QAP by the last day of the month after the quarter. The QAP lists every payee, their TIN and the income paid, whether or not tax was withheld. File the 1604-E and annual alphalist by March 1.

Step 6: Issue Form 2307 within 20 days after the quarter

RR 11-2018 requires the certificate within 20 days from the close of the quarter, or at the time of payment if the payee asks. The payee uses it to claim the tax credit and attaches it to the Summary Alphalist of Withholding Taxes (SAWT). Unissued 2307s are a common audit finding because suppliers complain and the BIR cross-checks.

Step 7: Record the expense in the right year and account

Book the expense when the liability becomes fixed. Match accruals at year-end to invoices received after the cutoff. Map each account to the right line of your income tax return so that EAR, interest and donations are easy to test against their caps.

Step 8: Submit the SLSP

If you are VAT-registered, submit the quarterly Summary List of Sales and Purchases. Details are in the SLSP section below.

Step 9: Review everything before the annual return

Before the annual income tax return (Form 1702 for corporations, 1701 for individuals), run a year-end review: reconcile the QAP and 1604-E alphalist with the general ledger, test the caps, check that every large expense has an invoice in your name, and fix gaps while the suppliers can still correct their documents. Our guide to inventory lists and annual schedules covers the year-end attachments.

Step 10: Keep the records for 5 years

Section 235, as amended by the EOPT Act, requires books and accounting records to be kept for 5 years from the day after the filing deadline of the return for the year of the last entry, or from the actual filing date if you filed late. Keep electronic copies, but don't throw away originals until the period ends.

Estimated costs and budget

The cost of getting deductions wrong is far higher than the cost of compliance. The table below shows both. Government charges come from the Tax Code; service costs are estimates.

Worked example: a ₱1,000,000 disallowed expense

This is an illustration. Real interest depends on the exact dates, and micro and small taxpayers get the reduced EOPT rates. If the expense was also not subjected to withholding, add the deficiency withholding tax and its interest.

Budget to prepare. Government charges only arise when something goes wrong, so your real budget is for prevention: bookkeeping, a compliant invoicing and accounts payable process, and a year-end review. Treat professional fees, software and staff time as the cost of keeping your deductions, and compare them with the 25% tax cost of every peso you can't support.

Special rules and limits

Entertainment, amusement and recreation (EAR)

Section 34(A)(1)(a)(iv) allows EAR expenses up to a ceiling set by regulation. Under RR 10-2002, the cap is 0.5% of net sales for sellers of goods and 1% of net revenue for sellers of services, including professionals and lessors. Businesses that do both apportion the cap. Anything above the cap is not deductible and doesn't carry over. Representation meals with clients, gifts to clients and similar costs count toward the cap, so tag them in a separate account.

Interest expense

Interest on business loans is deductible, but CREATE reduced the allowable interest expense by 20% of your interest income that was subjected to final tax (such as bank deposit interest). Interest on loans used for personal purposes, or between related parties covered by Section 36(B), is not deductible.

Bad debts

RR 5-99 as amended by RR 25-2002 sets five requisites. The debt must be valid and legally demandable, connected to your business, not from a transaction with a related party under Section 36(B), written off in your books by year-end, and actually ascertained to be worthless by year-end. Keep collection letters, demand letters and the facts showing that legal action would likely not collect. A recovered bad debt is income in the year of recovery, to the extent you got a tax benefit.

Depreciation and vehicles

You may deduct a reasonable allowance for wear and tear of business assets under Section 34(F), usually straight-line in line with your books. RR 12-2012 (October 17, 2012) limits vehicle claims. Only one land vehicle per official or employee is allowed, with a value of up to ₱2.4 million. No depreciation is allowed on yachts, helicopters, airplanes, or land vehicles over ₱2.4 million unless they are used in your transport or leasing business. The same limits apply to maintenance expenses and input VAT on vehicles.

Losses

Business losses not covered by insurance are deductible. For casualty, theft or embezzlement losses, you must file a declaration of loss with the BIR within the period set by regulation (the Tax Code says 30 to 90 days from discovery). Net operating losses can be carried over for 3 years under Section 34(D)(3), or 5 years for losses incurred in 2020 and 2021.

Charitable contributions

Donations to accredited donees are deductible up to 10% of taxable income for individuals and 5% for corporations, computed before the donation deduction. Donations to the government for priority activities, to certain foreign and international institutions, and to accredited non-government organizations that meet the Tax Code conditions are deductible in full. Always get the donee's proof of accreditation and the donation certificate.

Research, pensions and training

Research and development costs can be deducted or amortized under Section 34(I). Contributions to a qualified pension trust are deductible under Section 34(J). Registered business enterprises under CREATE may get enhanced deductions instead of the income tax holiday or special rate, including 100% additional deductions for training and research and development, 50% additional deductions for labor and power costs, and extra depreciation of 10% for buildings and 20% for machinery. These apply only to registered projects and need investment promotion agency registration.

Salaries, benefits and fringe benefits

Salaries and wages are deductible if you withheld and reported them. Keep the payroll register, the 2316 certificates and the 1604-C alphalist. The employer shares of SSS, PhilHealth and Pag-IBIG contributions are deductible business expenses. The 13th month pay and other benefits are excluded from the employee's taxable income up to ₱90,000 under TRAIN, and remain deductible for you. Fringe benefits given to managerial and supervisory employees are subject to the 35% fringe benefit tax on the grossed-up value, which you pay. The fringe benefit and the tax are both deductible.

Taxes

Business taxes are deductible: local business tax, permit fees, real property tax on business property, documentary stamp tax, and percentage tax. Income tax itself is not deductible. Surcharges and compromise penalties are not deductible, while interest on late taxes is.

Common deductible expenses businesses overlook

Why the BIR disallows expenses

These are the findings that come up most often in audits. Use them as a checklist before you file. Our LOA audit readiness checklist and our walkthrough of the BIR tax audit process show how they're raised.

• No invoice, or an invoice not in your registered name and TIN. Invoices addressed to an owner, an employee or "cash" don't prove the business incurred the cost.
• Official receipts instead of invoices. After the EOPT transition, an unconverted official receipt is only proof of payment.
• No withholding. For 2024 onwards, the expense may still be deductible, but you'll be assessed the unwithheld tax, interest and surcharge. For 2023 and earlier, the expense is disallowed unless you pay the withholding tax before the audit report goes to the reviewing office (RMC 60-2024).
• Payments to unregistered suppliers. Their invoices aren't valid, and you can't claim input VAT.
• Expenses in the wrong year. Prior-year bills booked in the current year fail the all-events test.
• Personal expenses. Family cars, groceries, private travel and personal credit card charges.
• EAR above the cap.
• No Form 2307 issued, or 2307s that don't match the QAP.
• Purchases that don't match third-party data. The BIR compares your SLSP and alphalists with your suppliers' declared sales.
• Missing alphalists. Salaries without a 1604-C alphalist, or professional fees not in the QAP.
• Large cash payments without proof. A voucher alone is weak evidence.
• Related-party charges without support. Management fees and cost allocations need agreements, proof of services and an arm's-length basis.

The Summary List of Sales and Purchases (SLSP)

Who must submit

RR 1-2012, effective January 1, 2012, amended Section 4.114-3 of RR 16-2005 and made the quarterly Summary List of Sales and Summary List of Purchases mandatory for VAT-registered persons. Older rules had thresholds (₱2.5 million in quarterly sales and ₱1 million in quarterly purchases, net of VAT), and you may still see them quoted. Practitioners read RR 1-2012 as removing those thresholds, so plan to submit both lists every quarter if you are VAT-registered. Non-VAT taxpayers are generally not covered, though special rules apply to some registered business enterprises.

Deadline and format

Submit the SLSP on or before the 25th day of the month following the close of each quarter, the same timing as the quarterly VAT return under the EOPT Act. You prepare the lists in the BIR's prescribed data format, usually DAT files generated with the BIR's validation module or a system that produces the same format, and submit them through the BIR's eSubmission facility. Keep the acknowledgment. Confirm the current submission channel with your RDO, since the BIR has changed portals several times.

Why it matters for deductions

The BIR's Reconciliation of Listings for Enforcement (RELIEF) system compares your list of purchases with your suppliers' lists of sales. When your purchases from a supplier don't match what that supplier declared, the BIR can send a Letter Notice asking you to explain or pay. A mismatch can mean an unregistered supplier, a wrong TIN, a supplier that underdeclared, or an expense you can't prove. Even if your own documents are complete, a supplier's failure to declare exposes you to questions. The fix is good vendor onboarding and accurate TINs in your purchase records.

The SLSP works alongside two other lists:

• Quarterly Alphalist of Payees (QAP): attached to your 1601-EQ. It lists everyone you paid that is subject to EWT, whether or not you withheld.
• Summary Alphalist of Withholding Taxes (SAWT): filed by the payee with its own return to claim the 2307 credits. When your QAP and your suppliers' SAWT disagree, both sides get questions.

Frequently asked questions

Can I deduct expenses with only an official receipt?

It's risky. Under RR 7-2024, the invoice is the principal document, and an unconverted official receipt issued from April 27, 2024 is only a supplementary proof of payment that can't support input VAT. Ask the supplier for a proper invoice in your registered name and TIN, and keep the official receipt as proof of payment.

Are expenses without withholding tax still deductible?

For taxable year 2024 onwards, yes, if the expense meets every other requirement. The EOPT Act repealed Section 34(K), and RMC 60-2024 confirms the deduction, but you remain liable for the tax you should have withheld, plus interest and surcharges. For 2023 and earlier, the deduction is allowed only if you paid the withholding tax before the audit report reached the reviewing office.

Can I deduct my personal car or fuel?

Only the business portion, and only if you can show the vehicle is used in the business. A company-owned vehicle used by an official or employee can be depreciated up to the ₱2.4 million ceiling under RR 12-2012, one per person. Fuel and maintenance need invoices in the business's name and a reasonable record of business use.

Can a sole proprietor on the 8% rate deduct expenses?

No. The 8% tax is computed on gross sales or receipts above ₱250,000 and replaces both the graduated rates and the percentage tax. You can't claim itemized deductions or OSD. If your costs are high, compare the 8% option with graduated rates and itemized deductions early in the year, before you file your first return for that year.

Is a cash receipt or digital receipt from Shopee or Lazada valid?

An order confirmation or platform receipt is not the seller's invoice. Ask the seller for a BIR-registered invoice, electronic or printed, in your registered name and TIN. Electronic invoices are valid when the seller's system is registered with the BIR.

How long should I keep receipts?

Five years from the day after the deadline for filing the return for the year of the last entry, under Section 235 as amended by the EOPT Act. If you file late, the 5 years run from the filing date. Keep longer if a year is under audit or dispute.

Do I need to submit the SLSP?

If you are VAT-registered, plan on it every quarter, due on the 25th day after the quarter ends. Non-VAT businesses are generally not required to submit it. Your obligations are listed on your Form 2303 and in your RDO's records.

What happens if my supplier didn't declare the sale?

The BIR may see a mismatch between your purchases and the supplier's declared sales and send you a Letter Notice. Answer with the invoice, proof of payment, the supplier's Form 2303 and your 2307 if you withheld. Your deduction holds up best when your own documents are complete, and the supplier is the one who must explain the undeclared sale.

How Upcloud can help

We keep your books, withholding and SLSP on a quarterly cycle so your expenses survive an audit, and we run a year-end deduction review before your annual return. If you're just registering, start with our guide to DTI and BIR registration or our bookkeeping basics. See our tax compliance and accounting and bookkeeping services, or contact us to talk about your situation.

References

1. Congress of the Philippines (via Lawphil). Republic Act No. 11976, Ease of Paying Taxes Act (Sections 5, 21, 33, 35, 41, 45). January 5, 2024. https://lawphil.net/statutes/repacts/ra2024/ra_11976_2024.html
2. Congress of the Philippines (via Lawphil). Republic Act No. 11534, CREATE Act (amending Sections 27, 28 and 34). March 26, 2021. https://lawphil.net/statutes/repacts/ra2021/ra_11534_2021.html
3. Congress of the Philippines (via Lawphil). Republic Act No. 10963, TRAIN Law (8% option, ₱90,000 benefits exclusion, fringe benefit tax, OSD and interest on deficiencies). December 19, 2017. https://lawphil.net/statutes/repacts/ra2017/ra_10963_2017.html
4. Congress of the Philippines (via Lawphil). Republic Act No. 8424, National Internal Revenue Code of 1997 (Section 34). December 11, 1997. https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
5. Congress of the Philippines (via Lawphil). Republic Act No. 12023, VAT on digital services. October 2, 2024. https://lawphil.net/statutes/repacts/ra2024/ra_12023_2024.html
6. Bureau of Internal Revenue. Revenue Memorandum Circular No. 60-2024: Clarifications on Section 6 of RR 4-2024 on the repeal of Section 34(K). April 23, 2024. https://bir-cdn.bir.gov.ph/BIR/pdf/RMC%20No.%2060-2024.pdf
7. Bureau of Internal Revenue. Revenue Regulations No. 6-2018: Revoking RR 12-2013 and reinstating Section 2.58.5 of RR 2-98. January 5, 2018. https://bir-cdn.bir.gov.ph/local/pdf/RR%20No.%206-2018.pdf
8. Bureau of Internal Revenue. Revenue Regulations No. 11-2018: Amendments to RR 2-98 on withholding tax under TRAIN. 2018. https://bir-cdn.bir.gov.ph/local/pdf/RR%20No.%2011-2018.pdf
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10. Bureau of Internal Revenue. Guidelines and Instructions for BIR Form 1604-C. January 2018. https://bir-cdn.bir.gov.ph/local/pdf/1604-C%20Guidelines%20Jan%202018%20Final.pdf
11. Bureau of Internal Revenue. Guidelines and Instructions for BIR Form 2550Q. April 2024. https://bir-cdn.bir.gov.ph/BIR/pdf/2550Q%20guidelines%20April%202024_final.pdf
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13. Bureau of Internal Revenue. Revenue Regulations No. 6-2026: CWT as a separate item on invoices. 2026. https://bir-cdn.bir.gov.ph/BIR/pdf/RR%20No.%206-2026.pdf
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15. Supreme Court E-Library. Revenue Regulations No. 1-2012: Mandatory submission of the quarterly SLSP by all VAT-registered taxpayers. December 14, 2011. https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/10/50215
16. Supreme Court E-Library. Revenue Regulations No. 25-2002: Amending RR 5-99 on the requisites for bad debt deductions. November 19, 2002. https://elibrary.judiciary.gov.ph/thebookshelf/showdocs/10/40035
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19. P&A Grant Thornton. Amended transitory provisions on invoicing requirements under the EOPT Act (RR 11-2024). 2024. https://www.grantthornton.com.ph/technical-alerts/amended-transitory-provisions-on-invoicing-requirements-under-eopt-act/
20. P&A Grant Thornton. BIR revises withholding tax rates for top withholding agents (RR 24-2025). 2025. https://www.grantthornton.com.ph/insights/articles-and-updates1/tax-notes/bir-revises-withholding-tax-rates-for-top-withholding-agents/
21. P&A Grant Thornton. Claiming of depreciation allowance, maintenance expense and input VAT on vehicles (RR 12-2012). 2012. https://www.grantthornton.com.ph/alerts-and-publications/technical-alerts/tax-alert/2012/claiming-of-depreciation-allowance-maintenance-expense-and-input-vat/
22. P&A Grant Thornton. BIR's new and improved policy on inventory and asset destruction or disposal (RMO 21-2020). July 21, 2020. https://www.grantthornton.com.ph/insights/articles-and-updates1/lets-talk-tax/birs-new-and-improved-policy-on-inventoryasset-destructiondisposal/
23. PwC. Worldwide Tax Summaries: Philippines, corporate deductions (EAR ceilings, interest arbitrage, taxes and penalties). Last reviewed August 1, 2026. https://taxsummaries.pwc.com/philippines/corporate/deductions
24. Tax and Accounting Center. How to comply with summary lists of sales and purchases. https://taxacctgcenter.ph/how-to-comply-with-summary-lists-of-sales-and-purchases/