Executive summaryThe Philippine Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular No. 76-20201 (Circular) clarifying certain issues related to the filing of BIR Form No. 1709, the Related Party Transactions Form (RPT Form) and its attachments, as provided in Revenue Regulations (RR) No. 19-2020.This Tax Alert summarizes the key issues addressed by the Circular.Detailed discussionThe key highlights of the Circular are summarized below:Objective, covered taxpayers, and first implementation periodThe RPT Form enables the BIR to perform a transfer pricing risk assessment and focus its audit on the most important transfer pricing issues. The RPT Form will also be used to monitor the...