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Time flies — in three months, we will bid 2017 goodbye. For us accountants, the end of the year means the start of busy season! There is the closing of books, the annual audit, and the filing of annual tax returns — tasks that often lead to sleepless nights.

Various portions of the Tax Code of 1997 will be deemed obsolete once the President approves the first package of the Tax Reform and Acceleration and Inclusion Act (TRAIN) which is scheduled to be implemented by January next year.

I have been hearing interesting stories about how some taxpayers are too afraid of receiving tax assessment notices right at their doorsteps.

It would not come as a surprise if many taxpayers receive tax assessments these days. If they are to stand a chance, it is important for them to have knowledge of their best options to challenge the issues raised by the Bureau of Internal Revenue (BIR)

Mergers and acquisitions have become popular business strategies for companies looking to expand into new markets or territories, to achieve economies of scale, to attain increased synergy, or to gain a competitive edge.

Basketball-crazy Filipinos watched the Philippine Gilas team fall short during the recently-concluded 2017 FIBA Asia Championships in Lebanon.

Normally, when one looks at the financial statements of a corporation and notices that the accumulated earnings exceed the paid-up capital, one will infer that this is a positive thing.

In the arena of international transactions, management and service agreements between interrelated companies within a multinational corporation is an inevitable consequence of globalization.