When thinking about accounting and how the automation process works, a substantial amount of work would be taken away from employees in order to implement automation. From a business owner’s perspective, automation would be more efficient and effective, but from an employee perspective, being replaced by automation would be difficult to take in. During the…
On January 15, 2021, The Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular No. 36-2021 (RMC No. 36-2021). This announcement was released to inform Filipino Taxpayers that there will be a shift from a Final to a Creditable System on Value-Added Tax (VAT) Withheld on Sales to the Government or Any of Its Political…
As of February 26, 2021, The Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular No. 29-2021 (RMC No. 29-2021). This announcement was released to inform Filipino Taxpayers that they will be allowed to use Electronic Signatures (e-Signature) on certain BIR Forms/Certificates. This was done to take into account the mandates given for Republic Act…
As of January 27, 2021, The Bureau of Internal Revenue (BIR) released Revenue Memorandum Circular No. 15-2021 (RMC No. 15-2021) which is effective immediately. This announcement was released to inform Filipino Taxpayers of the relaunching of the Central Business Portal (CBP), a project of the Anti-Red Authority (ARTA) in coordination with the Department of Information…
The Bureau of Internal Revenue (BIR) as of January 26,2021 released Revenue Memorandum Circular No. 17-2021 (RMC No. 17-2021) which is effective immediately. This was released to inform all concerned taxpayers that the deadline of filing BIR Form Nos. 1604-C and 1604-F, including its attachments of the 4th quarter QAP and Annual Alphalist of Employees/Payees…
What You Need To Know A significant change had occurred in early 2018 where tax authorities had issued a Revenue Regulation (RR) No. 11-2018 which amended certain provisions of RR No. 2-98 and implemented new amendments introduced by the Tax Reform for Acceleration and Inclusion (TRAIN) Law in relation to withholding taxes. One such repercussion…
What You Need To Know A significant change had occurred in early 2018 where tax authorities had issued a Revenue Regulation (RR) No. 11-2018 which amended certain provisions of RR No. 2-98 and implemented new amendments introduced by the Tax Reform for Acceleration and Inclusion (TRAIN) Law in relation to withholding taxes. One such repercussion…
Here’s What You Need To Know The BIR issued this form that needs to be accomplished every time a taxpayer pays taxes and fees that don’t require the use of tax returns. Such examples would include: secondary installment payment for income tax, deficiency tax, delinquency tax, registration fees, penalties, etc. This form is required when…
Availability of the Alphalist Data Entry and Validation Module (Version7.0) and its Updated File Structure, Standard File Naming Convention, and Job-Aids Headline 1: Alphalist Data Entry and Validation Module Version 7.0 now available Headline 2: Updated Version 7.0 of Alphalist Data Entry and Validation now available Summary: The Bureau of Internal Revenue (BIR) as of…
Clarifying Revenue Regulation No. 25-2020 on the Availment of NOLCO for Taxpayers Adopting Fiscal Year Headline 1: Clarification of RR No. 25-2020 relative to NOLCO incurred by businesses Headline 2: Availment of NOLCO for Taxpayers Under Fiscal Year Summary: Businesses or enterprises which incurred net operating loss for taxable year 2020 and 2021 will be…
