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National Internal Revenue Code of 1997 5th Edition
FRIDAY feels. This is what you told yourself on a Monday morning. Like any other day, you do not feel like doing the things that needs to be done. Tomorrow is the day you will do what you wished you had done today. You blame it and the lack of motivation, and so you doing other things, hoping that the task will go away. You changed the wallpaper of your desktop, set selected a suitable theme of your email, and selecting chose the best font style for your report.
THE Bureau of Internal Revenue has issued Revenue Regulations (RR) 10-2019 on Dec. 2, 2019, mandating all commercial establishments to use the new format for Notice to Issue Receipts/Invoices.
If we ask taxpayers what they think about what’s next for them, we could certainly get varying responses. One would answer, “Tax deadlines, of course!” Another would say, “Tax assessments and maybe, tax reform?” One might even say, “I would rather not think about it right now; don’t spoil my December!”
P&A Grant Thornton tax advisory and compliance head Atty. Eleanor Roque was named a Woman in Tax Leader in the Philippines by World Tax in association with the International Tax Review.
THE Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Circular (RMC) 122-2019, further clarifying that the submission of Semestral List of regular Suppliers (SRS) has been terminated. The BIR added that the information found under the SRS is already found in the quarterly Alphalist of Payees (formerly the monthly Alphalist of Payees) and in the annual Alphalist of Payees.
On weekends, I travel from my workplace to my province for a quick break from my busy working life. Every time I travel to my home town, I always notice the expanding industry of Philippine Economic Zone Authority (PEZA) enterprises, with special economic zones and technoparks being established in almost every city of my province, wherever I go. In fact, our province is known for its numerous economic zones. This makes me realize the rise in demand for PEZA-registered entities.
Have you ever wondered why you feel so down in the afternoon, maybe even until bedtime, on Sundays? You may be thinking about the activities in the forthcoming work week — an upcoming deadline, seeing another team member whom you don’t work well with, dealing with a demanding client, an uncomfortable working environment, among others. These feelings of anxiety are known as Sunday blues, which can be described as stress in-the-making. If you are experiencing this, you are not alone. In fact, according to a poll conducted by job site Monster, 76 percent of American workers say they get Sunday blues.
IN CONNECTION with section 4C of Bureau of Internal Revenue (BIR) Revenue Regulations (RR) 8-2018, which provides that, “All concerned employees of regional or area headquarters and regional operating headquarters of multinational companies, offshore banking units and petroleum service contractor and subcontractor shall be subject to the regular tax rate,” the BIR issued Revenue Memorandum Circular (RMC) 116-2019 on Oct. 18, 2019.
