Filter insights by:
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
On 21 March 2022, RA No. 11659, otherwise known as an Act Amending CA No. 146 or the Public Service Act, was signed into law, thereby amending the decades-old Public Service Act. With the end view of attracting foreign investments to the country to boost market competitiveness, foster innovation, and create high-quality jobs, other public service business as airport operation, railway, and even expressways may now be owned 100% by foreign entities subject to the grant of administrative franchise by the concerned administrative agencies tasked to oversee or regulate these undertakings.
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 29-2023 last March 10, 2023, relative to RMC No. 98-2010 which prescribed the guidelines and procedures regarding unserved Letters of Notice, Letters of Authority and Tax Verification Notices concerning taxpayers which could not be located (CBL) in their registered addresses.
Many of us, if not most, have grown accustomed to hearing that there is unity in diversity. In terms of unity, truly, no man is an island, and this adage is true in the workplace. We can only achieve so much on our own and we will always need help and support from our mentors and colleagues. As for diversity, statistics also show that there is beauty and resilience in embracing inclusion and diversity.
Generally, taxpayers have six (6) days left before the last day for the filing of the Annual Income Tax Returns (AITR) for the calendar year 2022 which falls on April 17 2023. With the filing of the AITR, the power of the Bureau of Internal Revenue (BIR) to assess and examine if correct taxes were paid begins. However, the said power of the BIR to assess deficiency taxes is not limitless.
Through Revenue Memorandum Circular (RMC) No. 41-2023, the Bureau of Internal Revenue (BIR) announced the publishing of BIR information materials made easily accessible on its official website. These materials are published to guide taxpayers in filing their applicable tax returns and in paying their taxes.
This year, the deadline for the submission of the AITR for calendar year ended December 31, 2022 is on April 17, 2023, while the submission of AFS with the Securities and Exchange Commission (SEC) is from May 29 to June 30, 2023, depending on the last numerical digit of the company’s SEC registration or license number. The month of April is always considered a “crunch time” period. However, the submission does not end with the BIR. After these documents have been received by the BIR, companies also have to submit them to the SEC. In addition, the General Information Sheet (GIS) shall be filed on or before April 30, 2023.
It is a well-established rule that no estate can be divided without first securing a valid Certificate Authorizing Registration (CAR or eCAR) from the Bureau of Internal Revenue (BIR). Heirs who wish to finally settle disputes as to ownership of the decedent’s properties within the family are constrained to secure a CAR or eCAR in order to secure a Transfer Certificate of Title with their local Register of Deeds.
We live in a society predisposed to bias. Psychologists speak the truth when they say that if there’s one thing certain about biases, it is that everyone has them and they occur unconsciously.
