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National Internal Revenue Code of 1997 5th Edition
For those who are considering increasing their holiday funds by availing themselves of the benefits under equity-based compensation, specifically those who are occupying supervisorial and managerial positions, they may have to look at the newly released BIR regulation, RR 13-2022, although it might not be the most heartwarming news this yuletide season.
The Fiscal Incentives Review Board (FIRB), through FIRB Resolution No. 026-2022, agreed to allow the transfer of registered business enterprises (RBEs) in the Information Technology and Business Process Management (IT-BPM) sector from the Investment Promotion Agency (IPA) administering the economic zone or freeport zone where their project is located (e.g., PEZA) to the Board of Investments (BOI) until December 31, 2022.
Last September, the Fiscal Incentives Review Board finally put forward a resolution that will allow Information Technology and Business Processing Management or Business Processing Outsourcing firms in ecozones to adopt fully remote arrangements without risking penalty or suspension of their tax incentives.
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”.
