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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
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) 117-2021, clarifying the provisions under Revenue Regulation (RR) No. 16-2021, amending the provisions of RR No. 2-2015 which previously prescribed the submission of BIR Forms Nos. 2307 and 2316 using the Digital Versatile Disk-Recordable (DVD-R) format.
One of the biggest sources of disruption businesses had to face was the constant evolution of technology and how quickly, if at all, they ought to adopt new tools. Now that society has taken a step towards recovery, it is almost comforting to find that we are in familiar territory.
As we near the end of the calendar year, many companies will be busy preparing for their year-end inventory tally. In certain industries, such assets make up a significant portion of a company’s balance sheet. Needless to say, it is important for taxpayers to know or review the tax rules and compliance requirements relevant to their inventories. Some of these rules and requirements are described below.
THE Bureau of Internal Revenue (BIR) issued Revenue Memorandum Order (RMO) 14-2021 and Revenue Memorandum Circular 77-2021 to remind all concerned taxpayers on the requirement for availing of tax treaty benefits under the streamlined procedures and documents.
We’re nearly two years into the pandemic and another year is coming to an end. While businesses are expecting significant improvements in the results of their operations this year, they should also be mindful of various compliance requirements.
THEY say a small leak will sink a great ship. But this is not about leaks, nor anything related to sea vessels. It speaks about spending that, when not properly recorded and accounted for, can put a dent on savings over time. Personal money management does not require a sophisticated process and usually, sticking to an expenses plan and setting the right financial goals do the trick. However, for cost management intended for businesses, a different ball game is needed.
Article 5 of the Labor Code of the Philippines, as renumbered, and Presidential Decree No. 851 mandate every employer in the private sector to pay their rank-and-file employees with 13th month pay. To reiterate this responsibility, the Department of Labor and Employment (DOLE) has issued Labor Advisory No. 18, which emphasizes the guidelines on the payment of 13th month pay for calendar year 2021.
Christmas is fast approaching and the whole world is slowly emerging from the ravages of the pandemic. While most people are getting busy preparing their gifts and menus for Noche Buena, taxpayers are reminded of year-end tax compliance and other reporting requirements. To name a few: taxpayers need to comply with filing and submission of annual information returns and their attachments, books of account, and withholding tax certificates, as well as the filing of Requests for Confirmation (RFC) for income payments to nonresidents which were subjected to tax treaty rates or preferential rates.
