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National Internal Revenue Code of 1997 5th Edition
Surprises are often something most of us want for our birthdays, anniversaries, retirements, etc. However, as taxpayers, would you still be delighted to receive a “surprise” if it’s from the BIR, and if it’s in the form of a visit to check your tax compliances? This “surprise” visit is called BIR Tax Mapping/Tax Compliance Verification Drive (TCVD).
In a bid to address the challenges faced by SEC-regulated companies in meeting regulatory requirements, the Securities and Exchange Commission (SEC) has announced a series of extensions and streamlining measures for amnesty applications in relation to belatedly filed or non-filed Audited Financial Statements (AFS), General Information Sheets (GIS) and information required under SEC Memorandum Circular (MC) No. 28, series of 2020.
Pursuant to Revenue Regulations (RR) No. 02 - 2023, loose documentary stamps are now replaced with the constructive affixture of documentary stamps as proof of payment of the DST on the certificate issued by the government for the purpose of establishing proof of a fact.
Amidst the intricate dance of market fluctuations and industry disruptions, business leaders often find themselves standing at the crossroads of decision-making, surrounded by charts, data, and projections meticulously crafted by expert analysts, armed with risk models designed to mitigate uncertainty and safeguard their organizations against potential dangers.
By definition, a lease is a contract whereby one of the parties (lessor) binds himself to give to another (lessee) the enjoyment or use of a thing for a certain price, and for a period that may be definite or indefinite.
The Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Circular (RMC) No. 74-2023, amending Section 5 of Revenue Regulation No. 5-2021 regarding the Sworn Statement (Annex A) and Sworn Declaration (Annex B) to be submitted in order to avail the Income Tax Exemption of foreign-sourced dividends.
They say that life is short. But in fact, it is the longest thing that any person will ever experience. Every aspect of our existence falls under the category of life, and every single thing we do makes up for the whole of it. Regardless, it always seems that no amount of time will ever suffice. Life moves at such a swift pace that we never even notice it scrambling right in front of us, and we always assume that we are always out of time.
