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The MTF Tax Journal for May 2021 highlights various tax issuances, court decisions, and other relevant information. Key points include:

BIR Issuances:
- RMC No. 62-2021 clarifies Corporate Income Taxation provisions, including total assets, land valuation, and tax rates for private educational institutions and hospitals.
- RMC No. 65-2021 prescribes guidelines for filing Quarterly Percentage Tax Returns with a decreased tax rate of 1% starting July 1, 2020.
- RMC No. 67-2021 clarifies issues related to the temporary reduction of Percentage Tax rates.
Court Decisions:
- Supreme Court decisions on Manila Electric Company vs. City of Muntinlupa and Commissioner of Internal Revenue vs. Chevron Holdings, Inc.
- CTA decisions on People of the Philippines vs. Cross Country Oil & Petroleum Corp. and Mindanao Mineral Processing & Refining Corporation vs. CIR.
SEC Issuances:
- Opinion No. 21-04 on quorum in by-laws and Opinion No. 21-05 on increase of authorized capital stock.
BOC Issuance:
- CMO 18-2021 on revised rules and regulations for prepayment accounts.