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National Internal Revenue Code of 1997 5th Edition
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) 91-2021 to inform taxpayers in areas under enhanced community quarantine (ECQ) and modified enhanced community quarantine (MECQ) on the extended tax filing and payment deadlines falling within the ECQ and MECQ period and the relaxed rules in acceptance of tax payments.
CORRUPTION, sadly, has become endemic in the Philippines. It is a big obstacle to economic growth and reduction of economic inequality. The huge amount of money that leaks out is not spent for the general welfare of the nation, but instead it goes to and enriches just a few.
The government has announced that it is imposing the third enhanced community quarantine (ECQ) in certain areas across the country, the strictest form of quarantine in which everyone, except essential workers, is restricted from going out. However, we should know that our responsibility as taxpayers is not put on hold despite constraints brought on by government lockdowns.
IMPROVING Philippine agriculture, which includes fishery and forestry products, has been a persistent major issue since much of the 20th century. Unfortunately, we still continue to struggle to come to grips with it.
AT present, the local government units (LGUs), with their Internal Revenue Allotments (IRA), are hardly mobilized to get directly involved in economic development.
Upgrading a business through digitalization is no easy feat. If we can recall in our previous article, we’ve established that digital transformation is an effort to improve existing business models by integrating advanced technologies. After learning this simple definition, what exactly can curtail these efforts in the long run? For digital transformation to be successful, it is crucial for business owners to consider all possible challenges brought about by the introduction of new technologies and an unfamiliar culture to the workplace.
In view of the continuing Covid-19 pandemic and its impact to the export industry, Revenue Regulations (RR) 15-2021 deferred the implementation of RR 9-2021 until an amendatory revenue regulation is issued. RR 9-2021 imposed 12 percent VAT on transactions which used to be zero-rated under Section 106 (A) (2) (a) (3), (4), and (5) and Section 108 (B) (1) and (5) of the Tax Code, as amended.
It is innate in every human being to have basic rights. They can never be taken away. They are valid and universal. In the corporate context, taxpayers are entitled to due process. Whether they be small or big businesses, they are entitled to the right to due process and equal protection of the law.
