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National Internal Revenue Code of 1997 5th Edition
THE Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) 30-2020 to further clarify RMC 28-2020 and 29-2020, both of which are on the extension of deadlines for filing and paying income tax and other various returns for 2019.
As the coronavirus disease 2019 (Covid-19) pandemic continues to worsen, business and government leaders are called upon to establish a systematic response to the public health crisis. The recent Taal volcanic eruption and the current actions of civil society, companies and other organizations to help frontline health workers, security and support personnel show that we can have a united response. These events, however, demonstrate the importance of having and stress-testing the effectiveness of your organization’s business continuity plan (BCP). Do you have one? Is it measuring up against Covid-19?
It has been a week since the government imposed the enhanced community quarantine (ECQ) and stringent social distancing measures on Luzon. This has resulted in the suspension of classes, public transportation, and travel by land, air, and sea. Strict home quarantine is being imposed and public gatherings are prohibited. Most business establishments, except for those that provide basic necessities, such as public markets, supermarkets, hospitals, pharmacies, banks and public utilities (e.g., power, water and telecommunications facilities) companies, remain open. To ensure the continuity of government services, work from home and minimal staffing arrangements are being implemented in the executive branch, except for the PNP, AFP, PCG, and health and emergency frontline services, border control and other critical services.
To adapt to an ever-changing business landscape, P&A Grant Thornton remains steadfast in providing business advisory services. We also aim to utilize alternative digital platforms to promote continuous learning and insights sharing. This means staying informed about the latest developments in the field of tax and audit and investing in technologies to share our expertise and knowledge in the industry.
Among the family of viruses, such as those that cause the common cold, severe acute respiratory syndrome and the Middle East respiratory syndrome, the one that causes the coronavirus disease 2019 (Covid-19) — and its outbreak — clearly made the biggest impact on global education. As of March 16, the Department of Health (DoH) has tallied at least 140 confirmed cases of Covid-19 in the Philippines.
As announced in Revenue Memorandum Circular No. 16-2020, taxpayers can now download eBIRForms Package Version 7.6 from the BIR website.
As the world is now facing a coronavirus (COVID-19) pandemic, each of us is reminded by the World Health Organization of the correct procedures for preventing infection, such as frequently washing hands with soap, maintaining social distancing, practicing respiratory hygiene, and seeking medical care early.
TO ACCELERATE the development of far-flung areas with good economic potential, we have to connect them by air to the major trade centers. This will require building or modernizing appropriate-capacity airports at government expense. To attract private air carriers to provide flights to these far-flung areas, a system of fare-subsidy to the carriers can be developed based on seat capacity utilization such that, when the capacity utilization reaches an agreed-upon rate, the subsidy ceases. Airports must be provided with night landing facilities so that the airlines can fly their otherwise idle aircraft to these rural destinations at night.
