Value Added Tax Philippines, In and Out – Seminar

Value Added Tax in the Philippines is one of the most complex tax types where most taxpayers are committing mistakes in application, either in the simple BIR returns preparations, computations, administrative compliance and/or substantiation thereby ending up with a tax exposure, unknowingly. It appears to be simple because you simply multiply gross sales or gross receipts, net of VAT, with 12% but there are many technicalities most taxpayers are not aware of. As a result, they are being assessed not only for additional VAT liability but sometimes because of a simple technicality.
Having this in mind, this seminar is conceptualized to explore the basic requirements and technicalities of existing VAT rules and regulations. Learn the ins and outs of value added tax (VAT) in the Philippines and avoid, if not eliminate unnecessary exposures. Educate for your business advantage.
Learning points:
  • Learn the nature and basic principles of the Philippine VAT system;
  • Learn VAT on sale of goods and properties, and services;
  • Learn the application of 12%, 0-rated sales, and exempt sales;
  • Learn the technicalities on BIR special rules on special issues (e.g. deemed sale, reimbursements, dealings with non-residents, etc.)
  • Learn how withholding VAT works and corresponding treatments and implications;
  • Learn proper invoicing requirements and avoid committing common errors;
  • Learn how to compute output VAT, and input VAT along with the special requirements and rules for input VAT;
  • Learn the preparation of VAT returns and related attachments (BIR Form No. 2550M/Q, summary lists, alphalists, and withholding tax certificates;
  • Learn how BIR makes an assessment on VAT, common assessment areas and defenses;
  • Develop an overview on VAT refund with the BIR and through judicial claims.
Schedule: Seminar workshop runs from 9:00 a.m.-5:00 p.m at Unit 2309 Cityland 10 Tower 1, H.V. Dela Costa St. Cor. Ayala Avenue Makati City. We can also arrange for special group of at least five (5) participants at their own venue.
Package: P2,500 plus VAT per participant – Handouts/Notes and pencils/Comprehensive illustrations/ BIR VAT returns/Seminar Certificate/ Lunch and snacks – a.m./p.m.. Please bring calculator.
Advocate Tutor: Certified public Accountant (CPA) who has gained much professional experience being in the practice of profession for almost 15 years formerly being with the Tax Division of a law office based in Makati for more than six (6) years as Assistant Tax Manager, and being with a firm as Tax Partner; being with the academe for sometime as a full time College Instructor at Asian Development Foundation College, Tacloban City for 3 years handling taxation and accounting subjects, part-time professor in the College of Accountancy – Polytechnic University of The Philippines, Taguig for about four (4) years handling basic accounting & taxation subjects, as basic accounting teacher at Mapua Institute of Technology – Makati Campus for about 2 years, and a lecturer at some universities in Metro Manila on taxation; and a frequent resource speaker on seminars related to accounting and taxation.
Reservation: At least P1,000 reservation fee to be deposited to BDO Current Account (Please contact us for account details) & balance on seminar day.

 

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Who should attend?
Highly recommended for Small & medium business owners, new entrepreneurs, accounting graduates, & interested others.

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Seminar Schedules

January 2018

January 25, 2018 ThursdayBasic Income Taxation for Sole Proprietors under New ITR

January 26, 2018 FridayHow to Analyze Financial Statements for Managers and Entrepreneurs Seminar

January 27, 2018 SaturdayBasic Income Taxation for Corporation under New ITR

February 2018

February 01, 2018 Thursday – Input VAT Refund Seminar

February 02, 2018 FridayReturns and Reports Preparation under eBIR and Online Submission Seminar

February 03, 2018 SaturdayWithholding Taxes, Subjects and Applications

February 08, 2018 ThursdayHow to Register Business Entity in the Philippines Seminar

February 09, 2018 FridayBIR Examination: Their Procedures and Other Related Defenses

February 13, 2018 Tuesday – Tax Reforms for Acceleration and Inclusion (TRAIN) Seminar

February 15-16, 2018 Thursday & FridayBasic Business Taxation Simplified

February 17, 2018 SaturdayValue Added Tax: In and Out

February 22-23, 2018 Thursday & Friday – Basic Business Accounting and BIR Compliance for VAT Entities