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National Internal Revenue Code of 1997 5th Edition
Publication of BIR issuances is an important aspect of the regulatory framework governing taxation. It supports a fair and transparent approach in making the public aware of the new tax rules and regulations.
A few days ago, I received a frantic call from a relative asking for tax advice. She has decided to start her medical practice, something she has always dreamed of and has now excitedly embarked on. She consulted an accountant and is in the process of signing the retainer.
In a bid to inform the public, particularly taxpayers who have filed One-Time Transaction (ONETT) applications via the eONETT System and intend to manually pay the tax dues thereon to any Authorized Agent Banks (AABs) or Revenue Collection Officers (RCOs), the Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 83-2024 on July 30, 2024.
As clarified by the Bureau of Internal Revenue (BIR), Diaz’s government winnings and gifts from private individuals and corporations are excluded from income taxes under Section 32(B)(7)(d) of the Tax Code.
Have you ever purchased something and ended up paying too much for it, only to find out that the retailer won't refund the difference? How do you feel about being stuck with the extra cost? Thankfully, that is not the case for taxpayers with excess creditable withholding taxes (CWT).
Pursuant to Revenue Regulation (RR) No. 16-2023, the Bureau of Internal Revenue (BIR) has required electronic marketplace (e-marketplace) operators and digital financial services providers (DFSP) to withhold a 1% withholding tax on 1/2 of their gross remittances to sellers or merchants for goods and services sold through their platforms or facilities.
Magic has long captivated audiences with its blend of mystery and wonder. Just like many, my childhood memories are filled with awe-inspiring performances where cards vanish, people defy gravity, and seemingly impossible feats are accomplished right before our eyes. These mesmerizing moments lead us to question reality itself, pondering whether genuine powers are at play or if it’s all just an elaborate trick.
Will your organization be able to sustain itself in the future world of work with yesterday’s and today’s skills? Have you invested as much in your learning and development programs as you have in technology? What are your strategies for managing ChatGPT's heightened IQ and its effects on your workforce across all levels?
