Availability of Optional Standard Deduction (OSD) and 8% Preferential Tax Rate
Election of OSD and 8% Preferential Tax Rate for availing taxpayers on the Filing of the 1st Quarter Income Tax Return Pursuant to Section 34(L) of the Tax Code, individuals or corporations may avail of Optional Standard Deduction (OSD) in lieu of itemized deductions which may be advantageous to availing taxpayers as long as it […]
Republic Act (RA) No. 11765 or the “Financial Products and Services Consumer Protection Act”
An Act affording more protection to consumers of financial products and services to promote transparency, fair and sound market conduct, reasonable, and effective handling of financial consumer disputes On May 6, 2022, Republic Act (RA) No. 11765, also known as Financial Products and Services Consumer Protection Act, was signed by President Rodrigo Duterte providing more […]
Recognizing the Best Performing Digital/Innovative Business in PH Via an Inaugural Summit
Even long before the COVID-19 pandemic forced global companies to adopt digital transformation and stay afloat in their respective industries, digitalization has been on a steady upward trajectory since the 1990s. Today, when data is considered one of the biggest commodities in business, more Philippine companies are shifting their focus online to drive robust growth […]
Prescribe format of VAT Zero Percent (0%) Certification to be issued by Investment Promotion Agencies (IPA) to Registered Export Enterprises (REE)
Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 36-2022 to establish a uniform template for VAT Zero Percent (0%) Certification to be issued by Investment Promotion Agencies (IPA) annually as presented to the Q and A No. 34 of RMC No. 24-2022 I. VAT Zero Percent Certification to Registered Export Enterprises contains: […]
Application for Certificate of Entitlement to Tax Incentives (CETI) of Registered Business Enterprises (RBE) with FIRB and IPAs (PEZA, BOI, etc.)
CETI is a requirement for all RBE in availing of the Income Tax Holiday (ITH) or preferential rate provided by CREATE Revenue Memorandum Circular (RMC) No. 28-2022 mandates all Registered Business Enterprises (RBE) to apply for a Certificate of Entitlement to Income Tax Incentives (CETI) formerly Certificate for Entitlement to Income Tax Holiday, to the […]