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National Internal Revenue Code of 1997 5th Edition
How much do you know about your family member, a friend, a colleague, or a significant other? Is your characterization of a person reflective of his or her real character? Does your characterization of a person affect how you deal with the person?
As previously introduced under Revenue Regulation (RR) No. 10-2019, the new BIR Notice to Issue Invoice/Receipt (NIRI) requires sellers, including those engaged in online business transactions to issue receipts/invoice for the sale of goods or services rendered.
Some of you might have seen memes spread on social media about how a soda is now more expensive than an alcoholic beverage, or you might have heard from a friend that they bought a soft drink at a local sari-sari store at twice its normal price.
As it continues to promote the digitalization of tax agencies, the legislative department is currently making efforts “to modernize the labyrinthine tax administration procedures by simplifying tax compliance, removing redundant and obsolete tax requirements, and lifting restrictions that prevent taxpayers from complying with tax laws remotely”.
These days, it is an accepted fact that the burden of reversing the climate crisis lies largely on the shoulders of governments and corporations. After all, research shows that less than 100 companies are responsible, whether directly or indirectly, for majority of carbon emissions throughout history. Thus, companies have been under scrutiny to ramp up their sustainability initiatives. The recent Grant Thornton International Business Report (IBR) even saw that 42% of the surveyed Philippine mid-market firms are ready and likely to invest in sustainability reporting and initiatives.
Some of us, if not most, have family members who are senior citizens or persons with disabilities (PWDs). As physical restrictions due to the COVID-19 pandemic have pushed companies to innovate from face-to-face to online transactions, the perks given to senior citizens and PWDs have also been inadvertently pushed aside.
As some Information Technology-Business Process Management (IT-BPM) entities registered with the Philippine Economic Zone Authority (PEZA) are shifting to the Board of Investments (BOI) to retain the work-from-home arrangement beyond December 31, 2022, the BOI issued Memorandum Circular No. 2022-005, reiterating the exemption from business tax of enterprises certified by the BOI as pioneer or non-pioneer enterprises, for a period of six years or four years, respectively, from the date of registration.
