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Dear Anthony, I hope that you have found your second home in your new school. It is definitely much bigger than the previous school you had been to. That institution is going to be a major factor in shaping who you will eventually become. How is first grade? Hopefully, you have already outgrown your feeding bottles. Mom keeps reminding me, every time she gets an opportunity, that you are still bringing them to school. Time to grow up, buddy!

THE Bureau of Internal Revenue has issued Revenue Regulations (RR) No. 6-2018 revoking RR No. 12-2013, relative to the deductibility of certain expenses.

Everyone has a wish list. The Merriam-Webster Dictionary defines “wish list” as “a list of desired but often realistically unobtainable items.”

We are happy when we have choices. Choices give us the feeling that we are in control. It also gives us a sense of freedom and flexibility, whether it is deciding on the route to take using the options provided by Waze, or the food to pick at a buffet restaurant.

AMONG the changes brought about by the implementation of Republic Act No. 10963 or the TRAIN Law are the revised tax rates for final tax and percentage tax. However, the tax returns/forms for these taxes have not yet been updated and reflected in the electronic Filing and Payment System (eFPS) and electronic BIR (eBIR) forms. Pending the revision or enhancement of the returns/forms, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 2-2018 on Jan. 8.

One of the concerns of corporate taxpayers is how to optimize their assets, including input value-added tax (VAT), for day-to-day operations. When the input VAT remains unutilized for a long period, however, it becomes a trapped asset.

How is your new year so far? Hopefully, you are off to a good start. On the last Sunday of 2017, I was blessed to hear the message preached in our local church.

For individual taxpayers, the offshoot of the approval (and line item veto) of Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion Act (TRAIN Law) is uncertain.