Launching Taxes For Space Tourism
By Rene A. Martin Billionaires like Richard Branson, Jeff Bezos, and Elon Musk have shown everyone that space travel can be safe and commercially possible. Given its fiscal potential, it is a fact that there’s money and business in space tourism– and when there’s profit, taxes will necessarily come into play. Starting from US$250,000, people […]
Babylon2K– RP’s Premier Solution for Your Accounting Needs
While it would be easy to assume that there’s a high demand for accounting services and assistance during these difficult times, the truth is that there are still many CPAs out there who are in dire need of jobs. According to industry veteran Mike Aguirre via the recent Usapang Business online session on Saturday, July 31, the […]
IRR of Title XIII of 1997 Tax Code as amended by R.A no. 11534 or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act which sets its effectivity on July 27, 2021
This IRR covers the tax and duty incentives period for availment of incentives, rules and criteria of SIPP, creation of the FIRB, reporting requirements, roles and function of FIRB and other Agencies in implementing the IRR, among others The salient portions of the Implementing Rules and Regulations (IRR) include: RULE 1. – SCOPE AND COVERAGE These […]
REVENUE REGULATIONS (RR) No. 15-2021
Deferred implementation of RR No. 9-2021 which imposed a 12% value-added tax (VAT) on specified exporter transactions that were previously subjected to 0% The Bureau of Internal Revenue (BIR) has recently issued RR No. 15-2021 deferring the implementation of RR No. 9-2021 until the issuance of an amendatory revenue regulations. With the deferral of RR […]
DOF Chief Reverts Zero-tax Incentive for Exporters With RR 9-2021 Suspension
After much concern from the country’s export sector, the Department of Finance (DOF), and the Bureau of Internal Revenue (BIR) have agreed to suspend the latter’s Rules and Regulations (RR) 9-2021 which imposed a 12% value-added tax (VAT) on specified exporter transactions that were previously subjected to 0%. The suspension came after further discussions were […]