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It’s that time of the year again —twenty-six days before Christmas. Every year, I look forward to the holiday season — when we have to decorate our houses, set up Christmas trees, hang lights around the house, and buy gifts for our loved ones. We prepare the long list of family members, friends, godsons, and goddaughters, so no one will be forgotten. As early as now, many, of us have been preparing for the upcoming holidays.

TIMTA, which stands for Tax Incentives Management and Transparency Act, is aimed to monitor and evaluate the fiscal incentives granted by investment promotion agencies (IPAs) such as the Philippine Economic Zone Authority (PEZA) and Board of Investments. Various government agencies are involved in the implementation of TIMTA and are assigned with defined responsibilities.

The House of Representatives passed on third and final reading what it calls the “Tax Reform for Acceleration and Inclusion” (TRAIN) Act.

Change is inevitable, and whether we like it or not, we have to adapt and learn to handle changes that come our way.

A lot has been going on with respect to tax reform. Some tax rates are proposed for adjustment, while some tax exemptions face removal, among other expected changes.

THE general rule is, a final tax of six percent based on the gross selling price or fair market value of the property

Since the passage of Republic Act (RA) 10754, An Act Expanding the Benefits and Privileges

Can the Bureau of Internal Revenue (BIR) issue an assessment even after the lapse of the three-year prescriptive