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As the debate on adopting federalism in the Philippines heats up, the powers and limitations of local government units (LGUs) to tax is coming to the fore.
TO better serve the public, the Bureau of Internal Revenue (BIR) announced it has created a fast lane for one-time, simple transactions. Revenue Memorandum Circular (RMC) No. 43-2018 issued last May 18 states that the fast lane caters to individuals or corporations filing capital gains tax or donor’s tax returns with only one deed of sale, exchange, or donation involving one to three properties.
A week ago, I was browsing through my social media feed and saw a post about kids crying and having fits on their first day at school.
Thirteen years ago, when I was still in my early college years, I represented my class in a university-wide extemporaneous speaking competition.
International taxation is undergoing the biggest shake-up for a generation. The already complex world of transfer pricing is at the front and centre of these disruptive changes, both in the rules that govern it and in the heightened scrutiny it now faces.
In less than a year’s time, my eldest child will turn 10. She is presumably part of the post-millennial generation called Generation Z.
The World Bank’s Doing Business 2018 report reveals that the Philippines has slipped when it comes to the ease of doing business to 113th place from 99th place last year.
