Executive summary
The Philippine Bureau of Internal Revenue (BIR) issued Revenue Regulations No. 20-20201 amending the definition of fair market value (FMV) of shares of stock not listed and traded on the Philippine stock exchange. The regulation became effective from 3 September 2020.
Detailed discussion
The FMV of shares of stock not listed and traded on the Philippine stock exchange is as follows:
- For common shares of stock, the book value based on the latest available financial statements duly c…