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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.

Are you anxious every time you leave your home, because of the outbreak of the 2019 Novel Coronavirus (2019-nCov)? If you are, it is normal. Most people now refrain from going to the malls, parks, and churches, and prefer to stay at home to prevent from catching the virus. Even my mother has observed that fewer people walk down Session Road in Baguio.

The Department of Health (DoH) confirmed on Thursday, Jan. 30, the first case of novel coronavirus (2019-nCoV) in the Philippines. This alarmed many Filipinos.

Today, I celebrate my one-year anniversary working at Punongbayan & Araullo (P&A). In the past 12 months, my life has changed, and my priorities have transformed in ways I could never have imagined. It’s challenging, but these challenges were just one of many things that helped me grow and develop my professional work opportunities.

Sunday was the Feast of the Sto. Niño or the Child Jesus. While attending Sunday mass, we were reminded to be obedient like a child to be more worthy of the kingdom of God. Obey the rules and you will be rewarded.

On Sunday afternoon, I was surprised to read news of Taal Volcano erupting, spewing ash and causing the shutdown of our international airport. I was caught unaware. A search of my newsfeed showed no prior articles about Taal Volcano, so I was surprised to see graphic images from friends and family of the volcanic eruption suddenly flooding my social media. Perhaps I was more focused on the Iran-US situation or the Duke and Duchess of Sussex’s announcement that they are stepping back from their royal roles to have missed updates on Taal, if there were any.