by Greg Aquino | Feb 12, 2015 | Accounting Best Practices, Lets Talk Tax, Tax Updates
Philippines – Another mark on the history of Philippine Taxes is the amendment of Section 32(B)(7)(E) of the National Internal Revenue Code (NIRC) of 1997 where the former statutory allowance of Thirty Thousand Pesos (P 30,000.00) was increased to Eighty Two Thousand...
by Greg Aquino | Jan 15, 2015 | Accounting Best Practices, Lets Talk Tax, Tax Updates
Lessors are reminded to monitor and submit to BIR a semi-annual Lessee Information Sheet (see image below) as prescribed by Revenue Regulations No. 12-2011 issued on July 25, 2011. BIR Lessee Information Sheet RR 12-2011 The required Lessee Information Sheet...
by Greg Aquino | Jan 14, 2015 | Accounting Best Practices, Lets Talk Tax, Tax Updates
Philippines – The Bureau of Internal Revenue has mandated all employers to submit duplicate copies of its “employee certificate of withholding taxes/payments (BIR Forms 2316)” through the issuance of BIR Revenue Regulations (RR) 11-2013. The ruling...
by Greg Aquino | Dec 12, 2014 | Lets Talk Tax, Tax Updates
Holiday Greetings! Merry Christmas and a Happy New Year! 🙂 Its holiday season and most organizations are now releasing Christmas bonuses or gifts to its employees. However, did we ever asked ourselves if the Christmas bonus we receive should be taxed or not? If not,...
by Greg Aquino | Dec 9, 2014 | Tax Updates
A BIR System Downtime The Bureau of Internal Revenue issued an interoffice memorandum addressed to all BIR employees and all others concerned about its system downtime due to BIR records purging and archiving that will commence after the working hours of December 12,...
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