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National Internal Revenue Code of 1997 5th Edition
The Security and Exchange Commission (SEC) further extends the deadline for amnesty applications of non-compliant and suspended or revoked corporations who have not submitted or have belatedly filed their audited financial statements, general information sheets and required contact information.
We often hear these reassuring words when we go through the end of a journey. However, you can also attribute these words to the concept of Circular Economy. These words are also somehow similar to what Antonine de Lavoiser, the great chemist and mathematician in the 18th century, noted in his experiments, “Nothing is lost, nothing is created, everything is transformed” – it suggests that nothing is lost thus should undergo a transformation to be continually repurposed and reintegrated into the economy.
As many taxpayers have recently received a Letter of Authority (LOA) from the Bureau of Internal Revenue (BIR), anxieties loom since normally, significant findings are initially identified and alleged in a BIR audit.
The Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular (RMC) No. 91-2023 on September 11, 2023, to inform taxpayers regarding the amendment issued by the Department of Trade and Industry and Department of Finance to detail the period of enjoyment of non-income related tax incentives of RBEs registered prior to the implementation of Republic Act (RA) No. 11534, also known as the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.
Environmental, Social, and Governance (ESG) principles have emerged as a transformative force in the business world since it was introduced several years ago, pushing companies to consider broader impacts beyond financial returns. It aims to create a sustainable and equitable future by addressing environmental issues, social responsibilities, and governance practices.
The CREATE Act has radically changed the Value-Added Tax (VAT) landscape for Registered Export Enterprises (“REEs”) when the phrase “Directly and Exclusively Used” was first introduced.
The Bureau of Internal Revenue issued Revenue Regulation (RR) No. 11-2023 on September 14, 2023, prescribing the use of electronic mail (e-mail) and electronic signature as additional mode of service of the Warrant of Garnishment pursuant to Section 244 of the National Internal Revenue Code of 1997, as amended.
Food deliveries, online shopping, e-learning, online meetings – all these have become a norm these past three years.
