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National Internal Revenue Code of 1997 5th Edition
During this unprecedented time, a credible board that balances providing support to management while challenging it to make the best decisions is a necessity. As there is no sufficient historical experience that management can readily draw upon that can help it navigate current conditions, the board’s capabilities would especially shine through during this challenging time.
With Christmas just a few weeks away, most of us are preparing decorations and buying presents despite the quarantine. This year’s holiday season will be much different from the past celebrations. Most businesses, particularly the micro, small and medium enterprises, which used to get their fair share of consumer spending, were forced to temporarily close and retrench employees due to the pandemic.
The implementation of Republic Act No. 11494 or “Bayanihan II” has brought about several welcome exemptions for taxpayers as the country embattles the ongoing pandemic. This particular law was enacted to declare a state of national emergency over the country in an effort to control the spread of the disease and implement Covid-19 response and recovery interventions. The key features that taxpayers may avail of this law are the following below:
In recent weeks, the Philippines, mainly Luzon, was ravaged by a series of typhoons that left the Bicol Region in ruins and submerged the Cagayan Valley in floods. Homes and livelihoods were lost because of these calamities.
The global coronavirus disease 2019 (Covid-19) pandemic, which resulted to self-isolation and economic uncertainty, is possibly changing the way people avail of products and services. Businesses face the risk of becoming irrelevant to their customers if the former fails to understand changing consumer behavior and priorities brought about by the Covid-19 pandemic. It is very critical to understand the customers’ side. Mid-market businesses need to assess whether they are still on the right track to understand and meet customers’ changing needs.
THE Securities and Exchange Commission (SEC) issued SEC Memorandum Circular (MC) 31-2020 to forego the imposition of fines and other monetary penalties for non-filing, late filing, and failure to comply with compulsory notification and other reportorial requirements, to align with the Bayanihan Act 2.
Last week seemed like a bad case of déjà vu with parts of Metro Manila being under water again, some 11 years ago after the last serious flood. TV stations broadcast images of people trapped on their roofs waiting for rescue, pets being rescued by their humans, and government resources stretched to the limit in responding to the needs of those devastated by the typhoon.
On the first page of my 2020 planner, when I wrote “lifestyle change”, I did not know it would have a new meaning: being stuck at my small bedroom/home office every day for the next seven-or-so months. An unexpected adventure for everybody.
