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Last week, many believers all over the world celebrated the most important event in the Christian calendar — Holy Week. For devout Christians like me, Holy Week is a time for prayer, sacrifice, repentance, and reflection. This year, however, Holy Week was celebrated differently in response to the government’s call to contain the transmission of COVID-19. Christian rituals and local traditions were carried out without crowds, while masses were televised or streamed online. Undoubtedly, this outbreak continues to affect life in more ways than we could have imagined. We can bear witness to how this pandemic brought new meaning and significance to our lives. It invited us to see the greater reality of what is important in life, brought many people back to their faith, and inspired people to show more kindness and empathy for others.

As the number of novel coronavirus disease 2019 (COVID-19) cases rapidly increased over the past few weeks, we have developed an obsession with figures and statistics. How many new cases have been reported in our country? What is the mortality rate? How many have recovered? How can we flatten the infection curve? What are the measures do we need to follow to avoid being infected?

It has been a week since the government imposed the enhanced community quarantine (ECQ) and stringent social distancing measures on Luzon. This has resulted in the suspension of classes, public transportation, and travel by land, air, and sea. Strict home quarantine is being imposed and public gatherings are prohibited. Most business establishments, except for those that provide basic necessities, such as public markets, supermarkets, hospitals, pharmacies, banks and public utilities (e.g., power, water and telecommunications facilities) companies, remain open. To ensure the continuity of government services, work from home and minimal staffing arrangements are being implemented in the executive branch, except for the PNP, AFP, PCG, and health and emergency frontline services, border control and other critical services.

As the world is now facing a coronavirus (COVID-19) pandemic, each of us is reminded by the World Health Organization of the correct procedures for preventing infection, such as frequently washing hands with soap, maintaining social distancing, practicing respiratory hygiene, and seeking medical care early.

March is International Women’s Month; we are celebrating the contributions of women to society, upholding women’s rights, and advocating women empowerment.

It has been more than a year since the first version of the Corporate Income Tax and Incentives Rationalization Act (CITIRA) bill was discussed in Congress. Some said the passage of the CITIRA bill will discourage investment and cause the pullout of foreign investors, displacing workers; others said the bill will eliminate unfair incentives, attract more foreign investment, and make SMEs more competitive in the region.

Investing in Property, Plant, and Equipment (PPE) is generally a good indication of growth for many businesses. PPE assets represent a fairly large investment with future economic benefits for most companies. While we are just a few months away from filing season, it is high time that we review our treatment of property, plant. and equipment, both for tax and accounting purposes.

On Valentine’s Day last year, the President signed the Tax Amnesty Act (Republic Act No. 11213) which included the Tax Amnesty on Delinquencies (TAD). The Bureau of Internal Revenue (BIR) then issued the Implementing Rules on TAD (Revenue Regulations No. 4-2019) on April 8, 2019, which became effective on April 24. Although it is not as generous as the vetoed general tax amnesty, it was still a welcome development. As the saying goes, beggars can’t be choosers and, after all, tax amnesty is a privilege and not a right.