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It is not every day that delinquents are given the chance to avail of tax amnesty. A review of our past tax amnesties, both legislated and administrative, show that delinquents are very seldom given breaks. Of the 10 tax amnesties passed during the Marcos administration, only one covered delinquents (i.e., Presidential Decree No. 68, issued in 1972). Of the three tax amnesties passed during the Corazon Aquino administration, none covered delinquents. However, there was Executive Order No. 44, which authorized the Bureau of Internal Revenue (BIR) to accept compromise payments on delinquent accounts.

In this age of social media, where we have access to platforms that allow us to share our own content, we are becoming more aware of what has been happening to other people, regardless of where they may be. Though there are inherent dangers to this new level of connectedness, it also allows more and more conversations to happen, albeit in the digital space. It can cause envy, yes, but it can also spark hope. As we share our lives and engage in conversations that transcend distance, it now becomes more apparent to us that we are not alone in our daily struggles; that our sufferings are not unique to us; that there are others out there who may have something worse than whatever it is we are going through.

In accordance with Republic Act No. 11199, or the Social Security Act of 2018, the Social Security System (SSS) issued SSS Circular No. 2019-05 on March 15, 2019, prescribing the new contribution table that is effective in April 2019, as illustrated below.

Hope for the best, prepare for the worst. Preparing for an upcoming customs audit is one way to minimize, if not to avoid, the risk of having deficiency assessments. The recent issuance of the Customs Administrative Order (CAO) No. 1-2019 marks the beginning of the audit season for importers.

With the advent of Republic Act (RA) No. 10963, or the Tax Reform for Acceleration and Inclusion (TRAIN) Law, taxpayers and tax practitioners have lauded the amendment made under Section 100 of the National Internal Revenue Code (NIRC). Section 100 imposes donor’s tax on the transfer of property for less than adequate or full consideration in money or money’s worth. The amendment provides an exception to the general rule. In this case, a transaction that is bona fide, at arm’s length, and free from any donative intent will be considered made for an adequate and full consideration, even if the selling price is lower than the established fair market value (FMV).

DEMOCRACY can be defined in a variety of ways, from definitions with varying complexities to a rather simple one. Let us pick a basic and simple definition: a form of political association among the people of a state within a defined geographical area where sovereignty resides in the people who express such sovereignty by voting to select the leaders of the government of the state.

Over a decade ago, my wife and I agreed on how we wanted to pursue our respective career paths. We laid out where we currently were and where we wanted to go, what were the opportunities, and how we are going to pursue them. The plan we hatched involved being away from each other for most of the year. At that point in our lives, we felt this was our final chance to run as fast as we can with regard to our careers, that we needed to pursue exponential career growth while it is still just the two of us in our family. As soon as we finalized our plans, God blessed us with an unexpected news–we were having a baby. I could not remember exactly what words were said when we learned about my wife’s pregnancy, but I can still recall how non-jubilant we were with the news. The mood was somber at best. It was not in our plans. We had other plans.

TO MAKE doing business in the Philippines easier, the Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Circular (RMC) 28-2019, allowing the use of BIR-printed receipts/invoices (BPRs/BPIs).