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National Internal Revenue Code of 1997 5th Edition
Having studied and practiced management over many years, I seldom come across companies stating that among their key success factors (KSFs) are cleanliness and health and safety practices. At most, these are practiced, but neither expressly recognized nor stated as KSFs (e.g., there are clean rooms in semiconductor manufacturing plants, and there are health and safety standards for food processing).
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 42 – 2020 to inform all concerned on the guidelines in filing and payment of BIR Form Nos. 1700/ 1701/ 1701A/ 1702RT/ 1702EX/ 1702MX, for the taxable year 2019.
Establishments have been looking forward to the lifting of the enhanced community quarantine (ECQ), especially as most economic activity ground to a halt after March 16. For more than six weeks, the COVID-19 pandemic and the resulting ECQ have crippled some businesses and the economy. The most vulnerable have been reduced to relying on emergency relief goods after being denied the opportunity to work. The government’s revenue-collecting agencies have missed their targets for the first quarter of this year, mainly due to the lockdown, which runs until May 15.
In response to the coronavirus disease 2019 (Covid-19) pandemic, new ways of interacting are rapidly affecting our way of life. As we continue to stay and work at home, however, data privacy concerns may have been pushed into the sidelines.
DUE to the extension of the enhanced community quarantine (ECQ), the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular 43-2020 to provide relief to taxpayers in filing returns and paying due taxes. Taxpayers during the ECQ may:
The government has extended the enhanced community quarantine (ECQ) in certain high-risk COVID-19 areas to May 15. In addition, for moderate- and low-risk areas, a modified form of general community quarantine (GCQ) will be implemented beginning May 1. During these extraordinary times, social distancing is the new normal and staying at home is a civic duty. More importantly, more and more people are lending a hand to communities.
The coronavirus disease 2019 (Covid-19) pandemic has resulted in significant disruption, and presents unexpected challenges for organizations of all sizes and sectors across the world. As we have seen, the spread of Covid-19 throughout communities is quickly changing how people live and work and how businesses operate.
ON APRIL 6, 2020, the Bureau of Internal Revenue (BIR) released Revenue Regulations (RR) 9-2020, granting further benefits from donations during the Enhanced Community Quarantine (ECQ) in relation to the National Internal Revenue Code (NIRC) of 1997, as amended. RR 9-2020 provides that donations or gifts made for the sole and exclusive purpose of combating Covid-19 during the state of national emergency shall be exempt from donor’s tax and shall be considered fully deductible against the gross income of the donor-corporation or donor-individual, granted that documentary evidence of such is provided. Such donations are limited to cash donations; donations of all critical or needed health care equipment or supplies; relief goods such as, but not limited to food packs (rice, canned goods, noodles, etc.) and water; and use of property, whether real or personal (shuttle service, use of lots or buildings).
