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Many taxpayers believe that, in a tax assessment conducted by the Bureau of Internal Revenue (BIR), even though the taxpayers submit a reply to the Preliminary Assessment Notice (PAN)

Everybody now seems to be tugging a smartphone along. It has become so ubiquitous that it has replaced the pocket watch, thermometer, radio, TV, laptop, video and sound recorder, camera and book, among others, to most.

In one of then-United States Senator and eventual President John F. Kennedy’s campaign speeches in 1960, he said,“(but) efforts and courage are not enough without purpose and direction.”

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.

When our loved ones pass away, we do not concern ourselves immediately with the transfer of properties they left behind.

AS an accountant, I keep myself well-informed and updated about financial developments, including the jargons. One term that caught my attention – maybe because of its relevance to current political and business situations in the Philippines – is the “cobra effect.”

While waiting for the proposed tax reform to be enacted into law, I often tend to daydream about what I am going to do with the extra money I’ll get from my take-home pay.

Social media, once dismissed as a passing fad by most people, is now more important and ubiquitous than traditional print advertising.