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
“Until death do us part.” This is a standard vow in many traditional wedding ceremonies. This means that only death can end a marriage. It is considered a lifelong commitment, one where only the death of one party can break the bond. Sadly, this is not the case for tax authorities and taxpayers. There is tax even after death.
WE need the right leader to make the many programs articulated in this commentary series happen.
The Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular No. 97-2021 to clarify the tax obligations of all social media influencers, individuals or corporations, with the end goal of raising revenues from their undeclared income and at the same time, reminding them of the possible consequences of their failure to pay taxes. This comes on the heels of reports that the BIR has been receiving stating that certain social media influencers are not paying their income taxes despite earning huge income from different social media platforms.
THE first dozen parts of this commentary series dwelt essentially on the exercise of powers of the presidency to make the necessary reforms and take appropriate actions to propel the Philippine nation to greater political and economic development and in so doing, break the cycle of poverty that is at present, extremely prevalent in our society and which creates suffering and humiliation among a great number of our people.
THE disruptions brought by the Covid-19 pandemic have stirred business and global market uncertainties. In the Philippines, the current business outlook is far from rosy. Micro, small and medium enterprises (MSMEs) continue to bear the brunt of the effects of the health crisis, grappling to stay afloat amid travel restrictions and new government-imposed lockdowns. Considering the surge of Covid-19 cases nationwide, we can say that the struggle of small businesses to sustain growth is far from over.
Last July 26, 2021, the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) 17-2021 amending sections 9, 12 and 13 of RR 6-2019 on the extension of the availment of Estate Tax Amnesty under Republic Act 11213, as amended by RA 11560.
Over the past decade, we have seen exponential growth in number of social media users. Social media users are now the equivalent of 57% of the world’s population, and it is expected that this figure will continue to increase. Social media also influences consumer spending. Studies show that more than 50% of social media users use such online platforms to research products and more than 60% are likely to purchase products and services based on social media referrals.
Investments, and in the case of the Philippines, foreign investments, is a big factor in driving economic growth. Unfortunately, for the past many years, the country has been behind most of our neighboring countries in attracting foreign investments. This low performance is a major reason why the Philippines has lagged behind most of the ASEAN countries in historical economic growth. We simply have not been competitive.
