Humanity has a natural desire to know about its ancestry and to keep the family name alive. Over and above the inclination of man to keep records of births and relationships, genealogy has been critical to chronology, particularly in the early years of human history.
Since the World Health Organization classified COVID-19 as a pandemic on March 11, “the new normal” became the go-to term for describing the new reality. Throughout history, we survived calamities because of our ability to adapt to changing times. With our mobility limited by social distancing protocols, we see a sudden business shift from physical stores to online platforms. Aspiring entrepreneurs taking advantage of new-normal opportunities might ask, “Can I start a new business during the pandemic?”
The longest busy season for income tax filing has finally come to a close. Amidst the sleepless nights and pandemic-induced stress, tax practitioners, tax authorities, and taxpayers alike can only remind themselves that the dictum “taxes are the lifeblood of the nation” rings ever more true.
Well settled is the rule that tax exemptions are construed strictissimi juris against the taxpayer and liberally in favor of the government. As a result, exemptions must be shown to exist clearly and categorically, and supported by clear legal provisions. In other words, one who seeks an exemption must justify it by words “too plain to be mistaken and categorical to be misinterpreted.” Thus, the burden of proving that one is tax-exempt rests on the taxpayer.
Businesses today are confronted with numerous and wide ranging concerns as a result of the COVID-19 pandemic. There are pressing issues on production or client servicing, supply chains, human resources, cash flow, market demand, financing, or survival at the extreme. Tax obligations, likewise, have to be dealt with regardless of the company’s financial position.
The COVID-19 crisis has been sweeping the globe, affecting Filipinos everywhere. To finance public initiatives and to control the pandemic, the government is increasing its efforts to raise revenue despite the difficulties brought about by quarantine restrictions.
The government’s plan to improve our corporate tax system and to develop a more efficient and competitive tax incentives regime has been ongoing for quite some time. In February, the proposed measure, known as the Corporate Income Tax and Incentives Reform Act (CITIRA) Bill, reached the Senate. Many hopes were raised that the CITIRA Bill would soon be enacted into law.
Are we prepared for when we begin our “new normal”? Who else misses going out, joining social gatherings, playing outdoor sports, and attending Sunday mass? We spent the summer of 2020 in the comfort of our own homes, thanks to the coronavirus or the COVID-19 pandemic.
