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National Internal Revenue Code of 1997 5th Edition
Christmas is generally a time spent with family. Everywhere we go – restaurants, parks, cinemas, even cemeteries – we see families spending time together.
THE Bureau of Internal Revenue issued Revenue Regulations (RR) No. 7-2017 to amend certain provisions covering taxation on sale of gold and other metallic mineral products to the Bangko Sentral ng Pilipinas (BSP). RR No. 7-2017 reduces the BSP’s obligation as withholding agent of the creditable withholding tax on mineral sales from a withholding tax rate of five percent to one percent.
Giving gifts on special occasions like Christmas, Valentine’s, birthdays, etc., is a tradition. Most of us have sent or received lots of Christmas gifts.
Traveling back and forth between Manila and Davao City has become a routine for me during the period we, external auditors, normally consider the busy season. From November to May, I earned a lot of airline miles that enabled me to attend various client meetings down south. My trip to Davao City last November 26 was different.
In the Philippines, the last major overhaul of the tax system came 20 years ago. But Filipinos may need not wait any longer.
BEGINNING Jan. 16, the Social Security System (SSS) will introduce the electronic Collection System (e-CS) to facilitate the real-time posting of SSS contribution payments.
While queueing at immigration upon my arrival at Terminal 3 of Ninoy Aquino International Airport (NAIA) recently, I found it sad that Overseas Filipino Workers (OFWs) — our “modern day heroes” — coming home for Christmas are not getting the heroes’ welcome they deserve.
WHEN I was still in college, I had always thought of love and accounting as two opposite poles (accounting is boring and love is exciting… or is it the other way around?) and mutually exclusive energies (one cannot coexist with the other). As most dictionaries would define, “Accounting is a systematic process of identifying, recording, measuring, classifying, verifying, summarizing, interpreting, and communicating financial information.” At first, I thought accounting is a science when, in fact, it is not. Accounting is an art. Love, on the other hand, is defined as “an intense feeling of deep affection.” If accounting is an art, then love is a mystery. How then is love related to accounting?
