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THE TRAIN stayed on track and reached its destination in time to take effect yesterday, Jan. 1, as targeted.

For a long time now, recovering from a loss as massive as being denied of their right to claim a refund for the creditable input value-added tax (VAT) they paid has been a key issue for diligent taxpayers. This issue remains a conundrum that is worthy of review and clarification every now and then. With the rise of VAT refunds denied because of technicalities, taxpayers are now keen on seeking justice with their own hands. Thus, a loss of a loss — i.e., when denied a claim, which is a significant loss on their part, taxpayers are convinced they can deduct the same as a loss.

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.

Taxpayers are looking forward to the proposed tax reform of the Department of Finance (DoF)

REPUBLIC Act (RA) 7277, as amended by RA 10524, lays out the fundamental guarantee of rights and privileges of persons with disability (PWDs), with the main intent to foster the PWDs’ capacity to attain a more meaningful, productive and satisfying life and recognizing the role of the private sector, including partnership programs with the government, in promoting the welfare of disabled persons.

IN line with Republic Act (RA) 10754, also known as “An Act Expanding the Benefits and Privileges of Persons with Disability (PWD),” and Revenue Regulations 5-2017, the Bureau of Internal Revenue (BIR) has updated the Certificate of update of exemption, and employer and employee’s information (BIR Form 2305) and the corresponding UEE data entry and batch file validation modules, to include persons with disability (PWD) as qualified additional dependents, through the issuance of Revenue Memorandum Circular 42-2017 and 43-2017.

THE Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Order 12-2017 to implement the guidelines in the issuance of Certificate of Tax Exemption (CTE) and electronic Certificate Authorizing Registration (eCar) for the transfers of raw lands to community/homeowners associations covered under the Community Mortgage Program (CMP) of Republic Act 7279, or the “Urban Development and Housing Act of 1992.”

SECTION 204 of the Tax Code provides two remedies to the taxpayer: compromise and abatement.