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National Internal Revenue Code of 1997 5th Edition
THE Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Circular (RMC) 107-2019 to further extend the validity period of Certificate of Accreditation (COA) and Permits to Use (PTUs) of Cash Register Machines (CRMs), Point-of-Sale (POS) machines and other sales machines or receipting software.
In February, President Rodrigo R. Duterte signed Republic Act No. 11210 or the 105-Day Expanded Maternity Leave Law (EMLL). The expanded maternity leave benefits under the EMLL are fully tax-exempt. This is the interpretation issued by the BIR in RMC 105-2019. Indeed, this is a deserved tax break for working mothers.
The Securities and Exchange Commission (SEC) recently issued additional disclosure requirements, especially for publicly listed entities. Reporting on material-related party transactions and sustainability have been added to the list of reporting requirements. These reporting requirements highlight the different stakeholders’ needs for more transparency from listed entities, which might be extended to non-listed entities as shared by SEC Commission Kelvin Lee during his presentation in the recently held Sustainability Forum of P&A Grant Thornton and Financial Executives of the Philippines last October 10.
ABOUT 12 years ago, I took my Certified Public Accountant Licensure Examination (CPALE). The results came out only after a few days. Soon afterward, I immediately faced the decision of choosing the type of accounting practice I would pursue.
A moral lesson can be gleaned from the circumstances surrounding the childhood of the greatest man who walked the earth, Jesus. This vital lesson also helps investors thrive in their business transactions, especially amidst fast-changing times.
LAST October 9, 2019, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) 105-2019 to clarify the tax treatment of the salary differential paid by the employer in favor of the female employee in the private sector.
THE NATIONAL issue of “endo” (short for end-of-contract or the termination of a worker’s fixed short-term employment) has been in the limelight for some time now, but has not seen its conclusion yet.
THE Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Circular 100-2019, prescribing the use of revised BIR Form 2316 (Certificate of Compensation Payment/Tax Withheld) January 2018, which was amended due to the implementation of Republic Act 10963, also known as the Tax Reform for Acceleration and Inclusion Law.
