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National Internal Revenue Code of 1997 5th Edition
In tax assessment cases, many taxpayers may be unaware of their basic rights. As part of due process, this article will briefly discuss one of the substantive requirements in assessment cases — The Notice of Informal Conference (NIC) or Notice of Discrepancy (NOD).
With the issuance of RR No. 4-2023, the exception for barangays is lifted. As a result, barangays are now included in the list of taxpayers required to file their tax returns using the eBIR Forms.
No man is an island. No one can ever be self-sufficient, and a symbiotic relationship always exists among members of our society.
During tax assessments and even in applications for tax refunds or tax credits, taxpayers are normally being required to present the related documents to substantiate claims for expenses, exemptions, input taxes, and income tax credits. If the taxpayer fails to submit proper documents supporting its claim, the BIR will impose deficiency taxes, or even subject the taxpayer’s claim to disallowance due to discrepancies.
The Bureau of Internal Revenue (BIR) has issued Revenue Regulations No. 3-2023 to inform all concerned on the amendments on the VAT rules applicable to Registered Export Enterprises (REEs) pursuant to Revenue Regulations (RR) No. 16-2005 as amended by RR No. 21-2021, implementing Sections 294(E) and 295(D), Title XIII of the Tax Code as amended by Republic Act No. 11534, also known as the CREATE Act and its Implementing Rules and Regulations.
Recognizing the need to enhance the assistance granted to solo parents, our legislators did a double take on the old “Solo Parents’ Welfare Act of 2000 and approved R.A. No. 11861 last year. The new law expanded the benefits to include a 10% discount and exemption from the value-added tax (VAT) on certain essential purchases.
With the heat of the summer sun amid long lines in government offices, taxpayers can now be assured that transacting with the Bureau of Internal Revenue (BIR) may be done with a few clicks online, at the comfort of their homes and offices.
On May 1, 1903, the first Labor Day celebration was held in the Philippines. Thousands of Filipino workers marched from the streets of Tondo, Manila to the Malacañang Palace to voice their demands and concerns for better working conditions and fair treatment from the then American-ruled administration.
