Technical Alerts
Tax treatment of Stock Option Plans and other Option Plans
RMC 79-2014 summarized and clarified the tax treatment of stock options plans and other option plans and imposed compliance requirement for corporations issuing stock options.
IFRS News Special Edition on IFRS 9 (2014)
The Grant Thornton International IFRS Team has produced a special edition of IFRS News on the completed version of IFRS 9, Financial Instruments.
Further extension of application period for accreditation of importers
Importers and customs brokers with valid and existing accreditation will have an extended period up to July 31, 2014 to file their application for accreditation.
Extension of application period for accreditation
The application period for importers and brokers with valid and existing accreditation has been extended until June 30, 2014, or the original expiration of their Bureau of Customs (BOC) accreditation, whichever comes earlier.
Waver of late filing penalty for eFPS taxpayers
The BIR has waived the penalties on late filing for eFPS taxpayers who were unable to file and pay thru eFPS their annual income tax return for taxable year ended December 31, 2013 and quarterly income tax return ended March 31, 2014 due to system downtime yesterday.