The Philippines Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular No. 143-2022, which provides clarification and guidelines on the implementation of Revenue Regulations No. 13-2022 on the income tax treatment of equity-based compensation. The main points regarding the tax treatment of equity-based compensation are set out as follows:
Grant of Equity-Based Compensation
- Capital Gains Tax (CGT) - No CGT shall be imposed upon the grant of equity-based compensation, whet…