Stay ahead and check tax and other reportorial deadlines with our comprehensive digital calendar! Gain quick access to key filing dates and deadlines in one convenient platform—helping you stay organised, compliant, and confident throughout the year.
National Internal Revenue Code of 1997 5th Edition
THE Local Government Code of 1991 decentralized local government units (LGUs) and, for this purpose, LGUs were given an annual allocation (allotment) of 40% of national tax collections (Internal Revenue Allotment or IRA). The IRA is in addition to the local taxes that the LGUs already impose and may impose in their respective jurisdictions. Now, after a long 28 years, this decentralization does not seem to have provided the improvements in the lives of our citizens that its proponents had argued as reason for its adoption.
Authorized or not? This question is very relevant to taxpayers who are subject to a tax audit. One should at least know if the Revenue Officer (RO) conducting the audit investigation is duly armed with a valid Letter of Authority (LoA). The Tax Code, as amended, requires the Commissioner of Internal Revenue (CIR) or their duly authorized representative to issue an LoA if it will delegate the examination of a taxpayer.
In less than two months, I will tie the knot with my girlfriend of eleven years. Looking back, I went through failure, heartache, and disappointment but, at the same time experienced milestones and achievements that made me who I am today. Being with someone I cherish made me a better version of myself. As American author Helen Keller put it, “the best and most beautiful things in the world cannot be seen or even touched — they must be felt with the heart.” It is better to have someone to rely on.
PURSUANT to the implementation of the Tax Reform for Acceleration and Inclusion (Train) Law, the Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular 73 and 74-2019, prescribing the availability of the revised and enhanced version of the following BIR forms:
The movie trailer for Top Gun: Maverick has just been released. It is a surprising, yet very much welcome sequel to the 1986 classic Top Gun, starring Tom Cruise as Lt. Pete “Maverick” Mitchell. Although the sequel will not be released until 2020, I got so excited about the sequel that I rewatched the 1986 film over the long weekend.
My preteen daughter was singing the other day, when my wife called her attention. My wife pointed out that the lyrics of the song seemingly don’t align with our family values and principles. The song was about pretending to be good to get what she wants, to get what she thinks she deserves. Our immediate reaction as parents was to tell her not to sing such a song.
The royalties that you pay relating to the goods that you import may be subject to Customs duties as part of the dutiable value of the importation. Have you made this evaluation? Are you paying duties on those dutiable royalties? Is there a risk that this will be uncovered during a customs audit?
Today, we consume a great amount of social media, and we do not expect it to lessen anytime soon, maybe never. As we survey through the different social media platforms, we can see what others have been doing, where they are now, and what kind of life they have been living. With so much information, it is becoming more and more difficult for us to avoid comparing what we are seeing with what we have been doing. Not only do we compare ourselves with our friends and colleagues, we are also exposed to a new breed of individuals whom we feel are having such a great gig: the travel vloggers, the e-sports professionals, and the social media influencers. Heck, we even dream of our kids having their own YouTube channels with millions of subscribers. All these information we are seeing every day are affecting how we are scrutinizing our own lives.
