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The comprehensive tax reform program (CTRP) was envisioned to redesign the Philippine tax system to be simpler, fairer and more efficient. Aligned with the said objectives, the first package of the CTRP or the Tax Reform for Acceleration and Inclusion (TRAIN) Law brought many changes on the overall tax compliance procedures. Some of these changes are the streamlined filing of tax returns, adjustments to tax payment deadlines, and revision of tax rates, the implementation of which requires the Bureau of Internal Revenue (BIR) to update its system and issue revised tax returns.

In two days’ time, we are about to end the first month of the year. Time really flies so fast, especially when we are too preoccupied with loads of tasks that need to be done. It may be a bit too late now for some, but making a last minute run-down of our tax compliance to-do-list for January should not be given any less attention, even at this point in time. So waste not a single second, go grab that journal and desk calendar, and let us start ticking off the remaining items on your list.

As interest in virtual currencies (VCs), blockchain technology, and initial coin offerings (ICOs) continue to heat up, governments around the world are evaluating the benefits and potential risks of these innovations while considering the regulatory issues surrounding them.

Nothing is forever, except change. The wise words of Buddha proclaim the undeniable truth that the only thing constant is change. Life is a process of becoming; thus, we should always keep ourselves abreast with the changing times. After all, progress is impossible without changing the status quo.

As we hit the first month of the year, it is time for another round of renewal and compliance. What better way to start the year than to have a clear mind set of what needs to be accomplished.

For someone to be forgiven, the truth must first be told. Be it in a quarrel between lovers, wrongdoing by a child, or even in confession to a priest, you must first admit the truth before being forgiven.

A sentence is said to be written in an active voice if the subject of the sentence performs the action. Conversely, if the subject of the sentence is the recipient of the action, the sentence is written in passive voice. As such, it is simple to determine if a sentence is written in either active or passive voice by merely identifying if the subject performs or receives the action.

Christmas is definitely here! As an early Christmas blessing to employees, the premium on group health insurance now reverts to being a non-taxable benefit and compensation.