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Dear 20-year-old self, Congratulations!

A week ago, I was browsing through my social media feed and saw a post about kids crying and having fits on their first day at school.

Thirteen years ago, when I was still in my early college years, I represented my class in a university-wide extemporaneous speaking competition.

International taxation is undergoing the biggest shake-up for a generation. The already complex world of transfer pricing is at the front and centre of these disruptive changes, both in the rules that govern it and in the heightened scrutiny it now faces.

In less than a year’s time, my eldest child will turn 10. She is presumably part of the post-millennial generation called Generation Z.

The World Bank’s Doing Business 2018 report reveals that the Philippines has slipped when it comes to the ease of doing business to 113th place from 99th place last year.

THE Bureau of Internal Revenue (BIR) issued a tax advisory amending the provisions on filing the excise tax on cosmetic procedures. Effective May 18, excise taxpayers must use BIR Form No. 0605 – Payment Form, indicating alphanumeric tax code (ATC) “XC010” and Tax Type “XC.” BIR Form No. 1620-XC Final Withholding Tax of Excise Tax on Cosmetic Procedures as prescribed under Revenue Memorandum Order (RMO) No. 9-2018 will be replaced by BIR Form 2200-C.

(Second of two parts) Under federalism, taxes imposed on production or sale of goods and provision of services (VAT, excise taxes, percentage taxes) are much more difficult to deal with.