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National Internal Revenue Code of 1997 5th Edition
I had a major breakthrough yesterday: I was again able to reach the office within an hour, in 45 minutes to be exact. Over the past month, I have been spending two to three hours on the road every morning. That is essentially cruising the streets of Metro Manila at a speed of six to nine kilometers an hour! At least, it is still faster than the average walking speed of 5 kph. What did I do differently to achieve my “under an hour” travel time? Nothing special, really. I just left our house 30 minutes earlier than the usual 5:30 a.m. cutoff.
House Bill No. 4157 or the Corporate Income Tax and Incentives Rationalization Act (CITIRA) is on its way to the Senate after being approved on third reading in the House of Representatives.
The Securities and Exchange Commission (SEC) has been receiving numerous complaints against Financing Companies (FCs) and Lending Companies (LCs) that allegedly harass borrowers and employ abusive, unethical and unfair means to collect debt. It has also come to the attention of the SEC that these FCs and LCs are purposely employing third-party service providers (TPSPs) to avoid liability for client harassment. In line with these developments, the SEC issued Memorandum Circular 18 Series of 2019 to regulate and supervise such practices.
“Dad, I’m sad,” said a melancholic voice from the other end of the line. The everyday heavy traffic made it now almost impossible for me to see my little girls during weekdays. Our daily interactions are now heavily dependent on mobile phones. Such a circumstance is oftentimes exacerbated when words such as “Dad, I’m sad” are being substituted for “Hi, Dad” as you start a conversation over the phone.
The Bureau of Internal Revenue (BIR) has signaled that it will conduct transfer pricing audits with the promulgation of its Transfer Pricing Audit Guidelines under Revenue Audit Memorandum Order (RAMO) No. 1-2019. The Transfer Pricing Guidelines were issued in 2013 through Revenue Regulations (RR) No. 2-2013.
The moment we had our third daughter, I was very conscious of the fact that we now have a middle child in the family. At the onset, I really wanted to pay very particular attention to our second one, because I did not want her to ever feel that she is being left out. Over the past few weeks, however, I have been noticing that the situation I have tried to avoid is happening.
THE Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) 09-2019 on Aug. 27, 2019 to amend RR 05-2017 on the tax privileges to persons with disabilities (PWDs) and tax incentives to establishments granting sales discounts to such PWDs.
The Securities and Exchange Commission (SEC)—in agreement to its order to assist in implementing the Anti-Money Laundering Act (AMLA), as amended, and the Terrorist Financing Prevention and Suppression Act (TFPSA)—approved the amended version of SEC Memorandum Circular No. 17 s. 2018 on the Revision of the General Information Sheet (GIS) to include Beneficial Ownership Information.
