This is really an important message that could save you lots of stress, time and money in the year 2020. To minimize possible fraudulent transactions, when writing a date, particularly the year, you must put into practice writing “2020” instead of simply “20”. Why? Because any individual with a mind of a fraudster, can changeContinue reading “Why It’s Really Important to Put the Year “2020” than just “20””
THE Court of Tax Appeals (CTA) denied for lack of merit an appeal of the Bureau of Internal Revenue (BIR) seeking to overturn the cancellation of the P1.63-billion deficiency tax assessment against Metro Rail Transit Corp. (MRTC). Read more at BusinessWorld. This means that the previous CTA decision, which canceled the tax liabilities of MRTC,Continue reading “Tax News: CTA Rejects BIR Appeal on Metro Rail Tax Assessment”
The above image is an inventory of our client, as we conduct the counting, in compliance with the Revenue Memorandum Circular No. 57-2015 (RMC No. 57-2015). Lately, BIR has send letter to taxpayers regarding compliance with Inventory List submission. It’s a hit or miss letter aimed at no one. Some of our clients have receiveContinue reading “Reminder: Inventory List Deadline”
Sworn affidavit (annex A-1 for individual and Annex A-2 for non-individual taxpayer) Photocopy of Certificate of Registration (COR) (BIR Form 2303)-certified true copy Original copy of Delinquency Verification of No Tax Liability issued by the RDO/Collection Division having jurisdiction over the Head Office of the taxpayer not more than fifteen working days from the dateContinue reading “Tax Clearance Documentary Requirements”
It’s a busy season where we had audited the most than ever before. It was indeed a busy season as we worked as late as 3:30am. Collectively, our clients have paid the most taxes as compared to our previous years.
As an employer, you might give benefits to your employees apart from their regular salaries and wages. These are called fringe benefits. However, there are fringe benefits that are relatively small in value and are not taxable. These are called “de minimis benefits.” According to BIR Revenue Regulations No. 3-1998(C), the term “de minimis benefits”Continue reading “De Minimis Benefits”
Welcome to our website. If you found this blog on our website (and not through our FB Page posts), then you must be really enjoying exploring our website, which we really worked hard for it. Thank you for exploring, from the bottom of our hearts. What we will be posting in this blog are theContinue reading “Welcome!”