*Based on reconciled Senate and House versionRead PDF Online
Through substitution, a qualified person may still run in the forthcoming May 13, 2019 elections even if he did not file his COC during the period of filing (October 11-17, 2018) prescribed by the Commission on Elections (COMELEC).
Our tax laws allow casualty losses to be claimed as deduction for income tax purposes
To complement the Tax Reform for Acceleration and Inclusion law (TRAIN), the House of Representatives just passed on second reading House Bill No. 8083. It contains the Duterte administration’s 2nd tax reform package which will be known as “Tax Reform for Attracting Better and High-quality Opportunities” or “TRABAHO.”
The Trabaho bill aims to reduce the corporate income tax rate from 30% to 20%.Read More...
During BIR’s audit, one of the most common reasons for disallowance of an expense is the taxpayer’s failure to withhold the tax.Read PDF Online
AS WE celebrated the New Year, the Tax Reform for Acceleration and Inclusion (Train) Law or Republic Act No 10963 took effect on January 1, 2018. Train overhauls the outdated National Internal Revenue Code (NIRC) which was adopted 20 years ago.Read Part 1 Here.
Usually, the heirs realize the need to pay the estate tax after years or even decades have passed from a person's deathRead More...
Last July 10, employees of the Sandiganbayan staged a mass walk-out to denounce the government’s move to tax their perks and allowances. To them, these benefits are just a way of helping them ‘get by’ on their meager salaries and should therefore be spared from taxation.Read PDF Online
Q: Is there a way by which the Bureau of Internal Revenue (BIR) can assess the correctness of an entity’s tax liabilities if the said taxpayer fails or refuses to submit complete and accurate financial records?Read PDF Online
A month ago, a prominent election lawyer sued a posh hotel in Pasay City for denying him his 20% senior citizen’s discount on top of his hotel membership incentives.