GOING GLOBAL – THE RIGHT WAY
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 […]
OFFICE OF THE PRESIDENT’S MEMORANDUM ORDER NO. 50: THE 2020 INVESTMENTSPRIORITIES PLAN (IPP)
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 […]
TAX AMNESTY ON DELINQUENCIES (TAD) and VOLUNTARY ASSESSMENT AND PAYMENT PROGRAM (VAPP)
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 […]
VAT Amendment on Transactions previously taxed at Zero Percent
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 […]
Guidelines and Circular on E-signature
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 […]