Tax Audit by BIR District Offices in the Philippines
By: Tax and Accounting Center Philippines The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Order No. 4-2013 dated 8 March 2013 (RMO No. 4-2013) and entitled “Audit of Tax Returns by Revenue District Offices” with the following objectives: To prescribe uniform criteria in the continuing audit tax returns by
Supplementary Information on Individual Tax Returns in Philippines
By: Tax and Accounting Center Philippines Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular No. 21-2013 dated 28 February 2013 (RMC No. 21-2013) entitled “Amending Revenue Memorandum Circular No. 57-2011″ regarding the completion of the supplemental information for 2012 individual income tax returns due for filing not later than
Tax on Deposits and Advances to Firms in Philippines
By: Tax and Accounting Center Philippines According to the BIR, it has been a common practice for general professional partnerships (GPP or Firms (e.g. accounting firms in the Philippines and law firms in the Philippines) to require client – taxpayers the following: Deposit a sum of money to them to
Penalties of Employer’s Failure to Withhold as Agent in Philippines
By: Tax and Accounting Center Philippines As we are all aware, employees are being subjected to withholding tax on compensation in the Philippines every payday. Withholding of payroll taxes in the Philippines is the liability of the employer (individual engaged in trade or business, of a juridical entity like corporation)
Tax Assessment by Third Party Letter Notice in Philippines
By: Tax and Accounting Center Philippines In the Philippines, tax examiners could conduct examination without necessarily and directly dealing with the records of the taxpayers. The tax examination could be made through the tax returns, reports, and submissions of other taxpayers whom the subject taxpayers had transacted with. This manner of
Depreciation Expense of Vehicles in the Philippines
By: Tax and Accounting Center Philippines Under Section 34(F) of the Tax Code of the Philippines, there shall be allowed as a depreciation deduction a reasonable allowance for the exhaustion, wear and tear (including reasonable allowance for obsolescence) of property used in trade or business. To implement this provision, the
Income Taxation of Employees in the Philippines
By: Tax and Accounting Center Philippines In this article, let us share you an overview on how to compute basic income taxation of employees in the Philippines. For all we know, withholding tax on compensation is made every after payroll throughout the employment but this may not completely pay the income
Creditable Withholding Tax Certificate in the Philippines
By: Tax and Accounting Center Philippines Under Section 2.58(B) of Revenue Regulations No. 2-1998, as amended (RR 2-98), every payor required to deduct and withhold taxes under the regulations shall furnish each payee with a withholding tax statement using BIR Form No. 2307 showing the income payments made and the
Tax Exempt Employee Separation Fees in the Philippines
Under the Tax Code of the Philippines, separation fees and benefits in the Philippines are exempted from income tax, and consequently, withholding taxes on compensation for separations from employment because of death, sickness or other physical disability or any other causes beyond employee’s control. No one may not really like
My First Brand New Toyota Car in the Philippines
By: Belle of Tax and Accounting Center Philippines As an employed professional, buying my own brand new car in the Philippines is quite a common desire for varied reasons. One, it would give me convenience in reporting for work and going home any time after overtime. Instead of getting a
Online Tax Return Filing and Payment in the Philippines
By: Tax and Accounting Center Philippines To provide a more taxpayer convenient manner of filing and payment of tax liabilities, electronic filing and payment system (EFPS) in the Philippines was introduced early in 2001 under Revenue Regulations No. 9-2001. The online tax payment system also fast tracked the availability of
Income Taxation of Expatriates in the Philippines
By: Tax and Accounting Center Philippines With the boom of the business process outsourcing industry in the Philippines, it is undeniable that foreign expatriates is accordingly increasing in number. Hereunder are the few reminder on how income taxation applies to compensation of expatriates in the Philippines. For better appreciation of
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Seminar Schedules
MAY 2013
May 3-4, 2013 - Basic Business Accounting and BIR Non - VAT Compliance
May 24, 2013 - Compensation: Computations and Must Know Exemptions
May 25, 2013 - Value Added Tax: In and Out
May 31, 2013 - ITR Preparation for Sole Proprietors
JUNE 2013
June 7-8, 2013 - Basic Business Accounting and BIR VAT Compliance
June 15, 2013 - BIR Tax Assessment: Process and Defenses
June 21-22, 2013 - Basic Business Accounting and BIR Non - VAT Compliance
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Materials and sample forms are complete, and the speaker is excellent.
- Anna Marie.June 62011 – Customized Non-VAT Workshop.Materials and sample forms are excellent because it provided complete forms for use, and the seminar workshop is very good because it gave us basic information about tax filing.
- Leonora. June 62011 - Customized Non-VAT Workshop.Very good, because everything is provided and he (Speaker) is very approachable.
- Jennifer.May 142011 - VAT Workshop.Excellent, because very detailed.
- Belle. May 142011 - VAT Workshop.-
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