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National Internal Revenue Code of 1997 5th Edition
Across communities around the globe, the coronavirus (COVID-19) has a significant humanitarian impact. In the Philippines, the support of the private business sector in the fight against the COVID-19 pandemic is essential during this critical period. In the spirit of solidarity, local tax authorities have recently taken into consideration the community efforts of donor organizations and individuals and have enacted changes to give incentives to generous donors.
The COVID-19 crisis has been sweeping the globe, affecting Filipinos everywhere. To finance public initiatives and to control the pandemic, the government is increasing its efforts to raise revenue despite the difficulties brought about by quarantine restrictions.
The Securities and Exchange Commission (SEC) issued Memorandum Circular (MC) No. 18, Series of 2020, to guide corporations in filing their annual audited financial statements (AFS) and general information sheet (GIS).
The coronavirus disease 2019 (Covid-19) pandemic has had a disruptive effect on our lives and the economy. It is all over the headlines: missed sales targets, lost earnings, foreclosures and job losses. At times like these, organizations often consider downsizing or reducing the number of employees. However, downsizing as a management directive must be implemented as a last resort. Rather than take such drastic and irreversible measures, companies may want to reconsider other options and opportunities such as strategic organizational rightsizing.
The government’s plan to improve our corporate tax system and to develop a more efficient and competitive tax incentives regime has been ongoing for quite some time. In February, the proposed measure, known as the Corporate Income Tax and Incentives Reform Act (CITIRA) Bill, reached the Senate. Many hopes were raised that the CITIRA Bill would soon be enacted into law.
At 7 a.m., my alarm rang. I woke up on a different bed. I am not on my bunk bed anymore. I woke up hearing birds chirping instead of cars honking and chickens scratching the roof instead of city cats meowing. It is the first day of the quarantine, and I am back home in Bohol. I returned home before Cebu City declared a community quarantine.
THE Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) 41-2020 to relax the regulations on expired or expiring principal and supplementary receipts or invoices and authority to print (ATP). ATP applications and the use of expired principal and supplementary receipts or invoices have been extended without penalties, provided that:
I have seen the human resources (HR) profession and its related functions progress in the past two decades from managing administrative personnel to being a stakeholder that mirrors changes in the business. Over the past two months, however, HR’s leadership and influence have been put to the test in response to the disruption caused by the coronavirus disease 2019 (Covid-19).
