Can the Bureau of Internal Revenue (BIR) issue an assessment even after the lapse of the three-year prescriptive
The tax season is over and almost all taxpayers who were able to fi le within the deadline yesterday, April 17, are now wondering what’s next in the pipeline of the Bureau of Internal Revenue
This Lenten season we are once again reminded of various biblical and historical accounts about Jesus of Nazareth (4 B.C. -- 30 A.D.), the central figure of Christianity. Probably the most notable thing about him is his fondness for the company of tax collectors. From the tax collectors of the past to the Bureau of Internal Revenue (BIR) of the present, the tax man has been stereotyped and has received more than his share of contempt, and even ridicule.
Have plans for the Holy Week? For individual and corporate taxpayers with an accounting year ending Dec. 31, plans for this upcoming Lenten season should include the preparation of the annual income tax filing. Why? Because this year’s due date falls on April 17th (since April 15th falls on Black Saturday which is a holiday). The timing can be a hassle considering that it is right after the holidays.
Late last year, I read a post on social media about a bride-to-be’s woes on the costs of “taking things to the next level” -- i.e., having a wedding. The woman took to social media to express her surprise (read: frustration) at the cost of reserving a church for a wedding (P35,000), having wedding announcements (P1,000 at most and this varies among different parishes), and behold, the opening of the church doors for the bride to enter and attend her wedding ceremony (another P1,000!). The last one struck a nerve. One thousand pesos. For opening the church doors.
But the poor will not always be forgotten. (Psalm 9:18)” This Bible quote gives a fine touch to the “should-be” reality that even those in the marginalized sectors of the society, such as the poor, are still an integral part of the nation and should never be forgotten.
One political analyst has said that President Rodrigo R. Duterte’s rise to power stems from voter frustration with the prevailing system of the government. His victory was a protest against the failure of previous administrations to solve corruption and criminality. But many critics of the President view his promise of change and reform to be a pitfall if he does not deliver.
According to news reports, the House of Representatives approved on third and final reading two tax bills: House Bill (HB) No. 4814 proposing an estate tax amnesty, and HB 4815 which calls for a single lower estate tax rate. Our congressmen unanimously passed the bills. HB 4814 garnered a vote of 216-0-0, while HB 4815 received a vote of 219-0-0.
