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Stay ahead and check tax and other reportorial deadlines with our comprehensive digital calendar! Gain quick access to key filing dates and deadlines in one convenient platform—helping you stay organised, compliant, and confident throughout the year.
National Internal Revenue Code of 1997 5th Edition
At this modern time of general abundance in the world and, particularly, in our part of the world, we find our country with an incongrous incidence of widespread poverty.
“An ounce of prevention is worth more than a pound of a cure.” At any stage of the tax assessment process, complications will surely arise when the notices and requests from the Bureau of Internal Revenue (BIR) remain unheeded.
The long weekend provided me with a good opportunity to rest and recharge, which included an admittedly unhealthy amount of binge-watching.
Under the Tax Code, all persons subject to an internal revenue tax shall, at the point of each sale and transfer of merchandise or for services rendered valued at one hundred pesos (P100.00) or more, issue duly registered receipts or sales or commercial invoices. However, the Commissioner of Internal Revenue may, in meritorious cases, exempt any person subject to internal revenue tax from compliance with the issuance of receipts or sales or commercial invoices.
Prevailing in the ever-evolving business landscape requires the ability to rapidly shift and adapt. Moving forward to 2024, let us take conscientious actions and collaborative efforts to create a future that incoming generations can enjoy and benefit from, focusing on aligning your business standards with Environmental, Social and Governance (ESG) goals.
Nowadays, it is quite common to hear stories of scandals and corporate failures such as Enron, Tyco, WorldCom, Lehman Brothers, Wirecard, and so on.
The Ease of Paying Taxes (EOPT) bill, with the main objective of tax modernization and high but easy tax compliance, was recently approved by a bicameral committee. According to Senator Win Gatchalian, EOPT is expected to drive foreign direct investments (FDIs) and enhance the country's competitiveness as an investment destination.
As part of the continuous effort on the Ease of Doing Business and Efficient Government Service Delivery Act of 2018, the Securities and Exchange Commission (SEC) recently issued Memorandum Circular (MC) No. 18-2023, publishing the guidelines on the submission of digital copies of documents and reducing the number of hard copies to be filed with the SEC.
