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Stay ahead and check tax and other reportorial deadlines with our comprehensive digital calendar! Gain quick access to key filing dates and deadlines in one convenient platform—helping you stay organised, compliant, and confident throughout the year.
National Internal Revenue Code of 1997 5th Edition
The Securities and Exchange Commission has recently issued a notice to inform the public that the submission of the Beneficial Ownership Transparency Declaration Form (BOTD Form) for newly registered corporations and existing corporations can now be made online. This is pursuant to: Section 6 of Memorandum Circular 1, Series of 2021, which mandates the disclosure of the person on whose behalf the corporation is registered and the nominators/principals of nominee incorporators/ first directors/ trustees and shareholders of corporations applying for registration, within 30 days from the issuance of the company’s Certificate of Registration; and Section 7 of the same memorandum circular that mandates the disclosure of nominators/principals/ persons on whose behalf one acts as director/ trustee/ shareholder of existing corporations.
The COVID-19 vaccine is just around the corner but the challenges of the first quarter must still hold our attention. The news is full of headlines on the Philippines’ budget deficit growing to a record P1.37 trillion and the debt-to-GDP ratio rising to 54.5% at the end of 2020. The increased need to address the burgeoning deficit and debt leaves the government scrambling to raise revenue.
For 17 years, Grant Thornton has been tracking the global progress of women in senior management. In the last 12 months, unprecedented events have had an unforeseen and unparalleled impact on that progress.
As part of its series of issuances on the Computerized Accounting System (CAS), the Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Order (RMO) 9-2021 which prescribes the simplified guidelines and procedures on the use of CAS, Computerized Books of Accounts (CBA) and/or its Components, including the Electronic Storage System (ESS), Middleware and Other Similar Systems. The RMO, issued on Feb. 19, 2021, supplements the provisions of Revenue Memorandum Circular 5-2021 in streamlining the documentary requirements and in simplifying the process of registration of these systems.
How do we define the needed skills, behaviors and attitudes to perform jobs effectively? How do we know if an individual qualifies for the job or not?
Tax authorities and firms are now anticipating a more accessible and convenient mode of filing and payment of taxes in the new normal. This comes on the heels of an announcement made by the Bureau of Internal Revenue (BIR) that it is planning to offer 24/7 online tax services in a bid to ramp up its digital transformation initiatives.
Occupational fraud happens more in private companies than their public counterparts. The Association of Certified Fraud Examiners’ 2020 Report to the Nations said that 44 percent of reported frauds occurred in private companies, 26 percent in public companies, 9 percent in nonprofits, and 21 percent in government or other entities. These numbers indicate that having a board of directors and management team that prioritize fighting fraud is crucial.
According to Japanese mythology, earthquakes are caused by the giant Namazu (otherwise known as Onamazu) catfish, a mischievous animal that hides beneath the earth’s surface. When the Namazu waggles its caudal fin, the ground shakes violently, endangering the unwitting inhabitants above ground.
