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National Internal Revenue Code of 1997 5th Edition
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.
The Bureau of Internal Revenue (BIR) recently issued Revenue Regulation 05 to inform all concerned on the following streamlined procedures in 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.
Last night, I had a heated discussion with my friend, which turned in part on open-mindedness to my arguments. Even though I laid out my case, it fell on deaf ears. I believed that the altercation could have been settled if only my friend was willing to listen to my explanations.
THE Philippine Health Insurance Corp. (PhilHealth) has suspended the increase in members’ monthly premiums for the year 2021 in response to the directive of managing the impact of the Covid-19 pandemic. The deferment is an interim arrangement until Senate Bill 1966, seeking suspension of such increase, is passed into a law.
The Covid-19 pandemic has caused a drastic increase in fraud in different organizations. According to the “ACFE Benchmarking Report: Fraud in the wake of Covid-19,” 79 percent of its respondents say they have seen an increase in fraud as of last November, and that this is expected to rise further in 2021.
Digital transformation has been a buzzword in the business community for years now, and its importance was emphasized when the COVID-19 pandemic hit. As COVID-19 affects businesses globally, business entities must find ways to continue their operations despite the government restrictions that were enforced to ensure public health and safety. Accordingly, for some companies COVID-19 became the main driver behind their digital transformation journey.
The Bureau of Internal Revenue recently issued Revenue Regulation 32 and 33 to inform all concerned on the extended period to avail of the Tax Amnesty on Delinquencies (TAD) and Voluntary Assessment and Payment Program (VAPP), and clarifications on the availment of the VAPP.
