It has been months since the Tax Reform for Acceleration and Inclusion (TRAIN) 1 took effect, on Jan. 1.
FEDERALISM is now getting wider attention. This is good. It is clear that this structure of government, which is totally alien to us, is being pushed down our throats with the convening of the Consultative Committee on Constitutional Reform.
IN line with Revenue Memorandum Order No. 6-2018 enhancing the frontline services of the Bureau of Internal Revenue (BIR) by streamlining tax-related transactions, the BIR recently issued Revenue Memorandum Circular (RMC) No. 19-2018 to circularize the simplified business registration procedures and guidelines.
A shout-out to all Filipino Certified Public Accountants (CPAs)! May is finally here, which means that the busiest of months have already passed. There were headaches and heartaches along the way, but certainly, seeing the fruits of your labor makes everything worth it. What do we now do with the sudden increase in our free time?
People today are more geared towards being entrepreneurs. With the availability and accessibility of different online platforms for business opportunities, people can have their own business without having to own or lease a physical storefront. However, many are unaware of the regulatory requirements of starting a business. For those who are aware, they are sometimes too impatient to register their business first before starting their operations, because of the impression that the registration process takes a long time and is very complicated. Hence, many businesses, especially home-based businesses, are not registered with the Bureau of Internal Revenue (BIR).
Over the past three months, I have attended numerous meetings with clients to discuss audit results and the audited financial statements that needed to be finalized in time for the statutory filing deadline.
Recently, the Bureau of Internal Revenue issued Revenue Memorandum Circular (RMC) No. 21-2018.
I confess that I do not remember who the commencement speakers were and what the commencement speeches were about when I graduated from elementary, high school and college. Looking back, I was probably busy talking to my seatmates, or daydreaming.
