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National Internal Revenue Code of 1997 5th Edition
Eight months. That is how long it has been already since I started working at home because of the pandemic. Days had gone by rather quickly. It has been eight months as well since being with my family every day. Three months ago, I wrote about how we can be better at working from home when our family is also there. One of the things I mentioned was to give as much respect, patience and understanding to those who are living with us since they are essentially our current “officemates.”
IN LINE with the Securities and Exchange Commission’s (SEC) development and implementation of an electronic filing and monitoring system, the SEC has released Memorandum Circular (MC) 28-2020 that requires companies to provide their official electronic mail (e-mail) address and mobile phone numbers which will be used for communication, submission and other transactions with the SEC.
Twenty years ago, RA 8792 (the Electronic Commerce Act) was signed into law. The government was preparing for the digital age as the world moved on to information and technology-based means of communication. It is safe to say that the progress towards using information technology for business did not escalate the way it was predicted. The cost involved in ensuring integrity of electronic documents has been one of the challenges of the business sector and the government in transforming to fully IT-based operation. Before the pandemic, the business sector relied on face-to-face interaction, including inquiries, follow-up and manual submission of reporting requirements to the government. The latter still uses traditional means of communication when sending notices to taxpayers as well. For signatures on reports submitted to the government, wet-ink signatures on documents have been consistently and strictly required.
THE implementation of Republic Act 11494 or “Bayanihan II” has brought about several welcome exemptions for taxpayers as the country battles the ongoing pandemic. In particular, the Bureau of Internal Revenue (BIR) published on Oct. 17, 2020, Revenue Regulations (RR) 29-2020 implementing the provisions of Bayanihan II relative to tax exemption on certain income payments provided to certain employees and health workers.
The pandemic has dominated headlines for the past 10 months. Unfortunately, there are other challenges apart from this crisis. As I write this, super typhoon Goni (Philippine name: Rolly) is hammering southeastern Luzon with strong winds, high waves and floods. This is another blow to the already troubled economy.
Have you tried waking up in the morning feeling tired and questioning yourself about what to do despite the long list of pending tasks or assignments you have in work or school? When you know the first step is to get up but still have a hard time in doing so? Moreover, when you force yourself to take a bath wishing that the water will be like pixie dust that will magically boost your energy and productivity? Have you been feeling it all lately? Then how are you now?
One day, we will go back to our pre-coronavirus disease 2019 (Covid-19) lives, but it will take a while even after the discovery of a vaccine. As we try to bring back “normalcy” in our society, we sense that our way of living, working and learning will never be the same.
THE Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) 115-2020 on Oct. 21, 2020 to inform concerned stakeholders that Certificate of Zonal Values of Real Properties (certification) shall only be issued by the concerned Revenue District Offices (RDOs) having jurisdiction over the property location. The certification shall be used by the applicant in their transactions with other government offices or private entities.