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National Internal Revenue Code of 1997 5th Edition
THE Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular (RMC) 15-2021 to announce the relaunching of the Central Business Portal (CBP).
The coronavirus pandemic has affected about 4 million out-of-school youth in the current academic year, according to the Department of Education (DepEd). This number is expected to increase, with students unlikely to return to classrooms any time soon and magnified by schools’ apparent lack of readiness to adapt to online and blended learning.
The COVID-19 pandemic has affected the way businesses conduct their day-to-day activities. With the continued threat of the virus and community quarantines in force across the country, most companies have been operating with skeleton workforces, to the extent that often only receptionists and security guards are the only warm bodies present. Such situations could lead to Bureau of Internal Revenue (BIR) notices or letters not being properly served to taxpayers.
Keeping a ship afloat means building and maintaining it using the right equipment so it could safely travel through dangerous water and reach its destination. An organization is similar to a ship. Companies range from small to big vessels, so to speak, traversing through diverse and challenging industries around the world.
The Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular (RMC) 02-2021 in reference to RMC 112-2020 to inform all concerned on the guidelines on the suspension of enlisting and delisting of Large Taxpayers by the BIR.
Earlier this month, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 4-2021, which lays down the guidelines for the filing of tax returns and attachments, as well as the payment of the taxes due. The RMC did not, essentially, introduce any changes to the prescribed manner of filing and payment of tax returns, but it is nevertheless important to refresh ourselves on these guidelines to ensure proper compliance and avoid unnecessary penalties and inconvenience.
As we welcome the new year and slowly adapt to the new normal way of doing things, the Bureau of Internal Revenue is also adjusting to the new norm as they recently issued Revenue Regulation No. 05-2020, simplified policies on the application for registration of Computerized Accounting System (CAS), Computerized Books of Accounts (CBA) and/or its components, including Electronic Storage System (ESS), Middleware and other similar systems. All taxpayers intending to use CAS, CBA and/or its components shall not be required to secure Permit to Use (PTU).
As the coronavirus pandemic rages, our Facebook timelines got filled with farewell posts from beloved small restaurants. Many netizens mourned their loss, especially those hole-in-the-wall establishments in or near universities or office buildings. “Made so many memories here, you will be missed,” one netizen wrote, voicing sadness for the closure of a famous eatery on Katipunan Avenue that many students flocked to.
