Executive summaryThe Philippine Bureau of Internal Revenue (BIR) issued Revenue Regulations No. 19-20201 requiring taxpayers to file an Information Return on Related Party Transactions (International and/or Domestic) (BIR Form No. 1709) and relevant supporting documents, together with their Annual Income Tax Returns (AITR). The regulation aims to implement the disclosure of related party transactions (RPTs) under International Accounting Standard No. 24 and the application of the arm's-length principle.The regulation will be effective on 25 July 2020 and will apply to the current and subsequent taxable years.This Tax Alert summarizes the key requirements of BIR Form No. 1709.Detailed discussionThis reporting requirement...