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National Internal Revenue Code of 1997 5th Edition
Today, I celebrate my one-year anniversary working at Punongbayan & Araullo (P&A). In the past 12 months, my life has changed, and my priorities have transformed in ways I could never have imagined. It’s challenging, but these challenges were just one of many things that helped me grow and develop my professional work opportunities.
When I was four years old, I dreamed of becoming an architect so I can design a house for my mother. As soon as I realized how hopeless the sketches I made looked, that was the end of it. I also dreamed of becoming a rock star; heard my own signing voice and never dared to sing in the showers again. Dreamed of becoming a professional basketball player but I could not even get any respectable playing time in our barangay basketball league. There were many other different careers I aimed for while I was growing up – and being a certified public accountant was definitely not one of them.
Sunday was the Feast of the Sto. Niño or the Child Jesus. While attending Sunday mass, we were reminded to be obedient like a child to be more worthy of the kingdom of God. Obey the rules and you will be rewarded.
THE Commissioner of Internal Revenue has issued Revenue Memorandum Circular (RMC) 143-2019 on Dec. 27, 2019, clarifying the inclusion of taxpayers as Top Withholding Agents (TWAs) who are obliged to remit the one percent and two percent Creditable Withholding Taxes (CWTs) under the criteria of Revenue Regulations (RR) 7-2019.
On Sunday afternoon, I was surprised to read news of Taal Volcano erupting, spewing ash and causing the shutdown of our international airport. I was caught unaware. A search of my newsfeed showed no prior articles about Taal Volcano, so I was surprised to see graphic images from friends and family of the volcanic eruption suddenly flooding my social media. Perhaps I was more focused on the Iran-US situation or the Duke and Duchess of Sussex’s announcement that they are stepping back from their royal roles to have missed updates on Taal, if there were any.
AFTER several discussions with and petitions from different labor unions in Central Visayas, the Department of Labor and Employment–Regional Tripartite Wages and Productivity Board VII has issued Wage Order ROVII-22 on Nov. 26, 2019 to raise the minimum wage rate across the region.
During the few times I was given the privilege to walk the streets of London, one thing that stuck me the most was the motorists’ discipline when approaching a zebra lane. A Londoner friend of mine explained to me that, by law, a motorist is bound to give way as soon as a pedestrian steps onto the zebra lane to cross. As someone who has been driving a lot here in the Philippines, giving way to pedestrians is not one of the things I think about when driving. Even as a pedestrian, I still think that I have to be extra careful and smart when crossing the street, because motorists do not often give way.
THE Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) 134-2019, announcing the availability of the revised BIR Form 1702-EX (Annual Income Tax Return for Corporation, Partnership and Other Non-Individual Taxpayer EXEMPT under the Tax Code, as Amended, [Sec. 30 and those exempted in Sec 27(C) and Other Special Laws, with NO Other Taxable Income]) January 2018 (ENCS) version 2.
