Claiming casualty losses (Typhoon Odette)
Tax relief by claiming casualty losses incurred Natural disasters are events that are caused by environmental factors. The recent Typhoon Odette (Rai internationally), for example, was a powerful and catastrophic tropical cyclone that struck the Philippine area of responsibility from December 12 to 22, 2021. Damage to infrastructure and agriculture was estimated at Php 23.4 […]
FREE INFORMATIVE & TIMELY WEBINAR on NIRC + TRAIN + CREATE: Administrative Provisions / Reforms & Year End Reporting for 2021
Dear Clients, Partners and Colleagues in the Accounting Industry, We cordially invite you to attend our upcoming webinar entitled “The 2022 ‘New Normal’ Webinar – NIRC + TRAIN + CREATE: Administrative Provisions / Reforms & Year End Reporting for 2021” this coming February 4, 2022 – Friday, via zoom. This event will feature meaningful insights […]
VAT ZERO-RATING INCENTIVES FOR REGISTERED BUSINESS ENTERPRISES
Amendments on the VAT zero-rating of local purchases of goods andservices by Registered Business Enterprises (RBEs) which should be useddirectly and exclusively for the registered project or activity Revenue Regulations (RR) No. 21-2021 issued on December 07, 2021 VAT zero-rating on local purchases shall be coterminous with the income tax incentives of Registered Business Enterprise […]
Global tax receipts fall by nearly half a trillion dollars during pandemic
Tax receipts from around the world have fallen by nearly $500bn in real terms to $11.7tn during the Covid-19 pandemic, down from $12.1tn the year before*, which may force Governments to make unprecedented tax increases to make up for losses, reveals a new study of tax revenues worldwide by UHY, the international accountancy network. UHY’s […]