Author Archives: Michael Aguirre

BY: Rhys Madoc, CEO, UHY International According to the Organisation for Economic Cooperation and Development (OECD), many national economies will recover to pre-pandemic levels in 2022. Globally, gross domestic product (GDP) will grow 5.8% this year, the OECD forecasts. This is more promising than its previous forecast in December, which predicted GDP growth of 4.2%. […]

EXPERT INSIGHT AND ANALYSIS FOR WORLD BUSINESS The 11th edition of UHY Global magazine is now available to read online. [https://www.uhy.com/Global11/html/index.html?refUrl=https%253A%252F%252Fwww.uhy.com%252Fcategory%252Fpublications%252Fuhy-global%252F]. UHY Global draws on the knowledge of UHY’s network of member firms to provide insight and expertise for today’s global business community in a thought-provoking, upbeat and engaging read. Topically wide ranging, each feature demonstrates […]

Many in the local export sector might be considering how the recent issuance of Rules and Regulations (RR) 9-2021 from the Bureau of Internal Revenue (BIR) can be rather ill-timed or otherwise, unfair.   Considering that Companies are just on the brink of rebounding from a global economic quagmire brought about by COVID-19 pandemic, and in consideration of […]

READ WHAT BUSINESSES HAVE TO SAY ABOUT WORKING WITH UHY MEMBER FIRMS The 2021 UHY Capability statement is now available to read online. (SEE ATTACHED FILE) Inside, you will find seven client stories from around the world. Some showcase how UHY’s member firms work together across borders to support clients expanding internationally. Others demonstrate the […]

International ambition makes sense post-COVID, but make sure you are fully prepared to meet the challenges ahead BY: Rhys Madoc, CEO, UHY International Albert Einstein’s assertion that “in the midst of every crisis lies great opportunity” is perhaps a crumb of comfort in the harsh COVID-era commercial landscape. Business is suffering through the crisis, but vaccines […]

Approving the 2020 Investment Priorities Plan to include the qualified activities relating to Covid-19 pandemic response and the “Balik Probinsya” program. On November 18, 2020, President Rodrigo Duterte, through the issuance of Memorandum Order No. 50, approved the 2020 Investment Priorities Plan (IPP) which typically includes the qualified activities relating to the Covid-19 pandemic response […]

Extension of availment of the following until June 30, 2021 (LAST CALL) TAD – 40%-60% of basic tax – VAT and Income Tax and 100% of basic tax – Withholding Tax VAPP – 1%-5% of Gross Sales, 5%-9% of Taxable Net Income, or Minimum amount of P75,000 to P1,000,000 based on subscribed capital, whichever is higher. The Bureau of […]

Now VATABLE– Indirect export of Raw materials / Packaging materials to Non-Resident buyer but delivered to a resident export oriented enterprise, BOI Registered Enterprises and for other persons doing business outside the Philippines; and sale of services by subcontractors and or contractors to export oriented enterprise The Bureau of Internal Revenue issued Revenue Regulation 9-2021 […]

BIR Updates on the Use of E-signatures on Selected Forms In light of the current global health crisis brought about by the COVID-19 pandemic and in accordance to Republic Act (RA) No. 11032, or the “Ease of Doing Business and Efficient Government Service Delivery Act of 2018′, the Bureau of Internal Revenue (BIR) has issued […]

Filing of the amended 2020 AITR up to May 15, 2021 while the required attachments (Notes, AFS, and BIR Form 1709) up to May 30, 2021 The Bureau of Internal Revenue issued an advisory to the concerned taxpayers, revenue officials and employees regarding the submission of the Annual Income Tax Return (AITR) for the taxable […]