When is EIS/EIRS applicable?
Non-compliance by large taxpayers, e-commerce and export oriented businesses may result to penalties, input VAT or expense disallowance as per RR. Nos. 08-2022 & 09-2022 Frequently Asked Questions (FAQs): 1. What is a Electronic Invoicing System (EIS)? Answer: EIS is capable of storing and processing data required to be transmitted by covered taxpayers using their […]
UHY MAC’s 2022 Midyear Motivational Empowers The Professional’s Mind and Heart Towards Future Success Amid Modern Challenges
Dynamic cost, tax, system, and ‘doing business’ advisory accounting firm UHY M.L. AGUIRRE &CO., (UHY MAC) CPAs recently concluded its 2022 Midyear Motivational hybrid event on August 12 onsite at the UHY MAC conference room and via live streaming platform Zoom. The event aims to empower further and inspire the firm’s employees, its specialists from […]
Avoiding Tax Penalties in the Philippines
You finally got a hold of your sweet, hard-earned money. As a reward, you treated yourself to a nice, quick travel vacation and saved the rest to your savings. Sounds ideal, but you forgot one tiny detail… you forgot your taxes. That’s okay. There’s a next time. It’s just a small penalty fee. No need […]
Non-imposition of 25% surcharge on amended returns under RMC No. 43-2022
No surcharge on deficient tax amounts in relation to timely filed and paid taxes but with additional taxes to be paid (EWT, VAT, DST, etc.) Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 43-2022 lastApril 08, 2022 to end the confusion of the taxpayer with the previous RMC No. 54-2018 and RMC […]