Taxation and accounting rules keeps on changing from time to time. Further enhance your tax and accounting knowledge towards ensuring your tax compliance as a taxpayer moving forward , Tax and Accounting Center, Inc. offers the following seminars and workshops for July 2015 Philippines: July 9-10, 2015 – Thursday & Friday, Basic Business Accounting and BIR Non-VAT Compliance Seminar Workshop Bookkeepers are not always the person you could trust 100%. To determine whether they are delivering what they should be under your terms and agreement with them, you must have a working knowledge on how they are supposed to deliver. Learn in this program how you would handle your accounting and tax compliance of your no-VAT registered business. Learn more…Basic Business Accounting and BIR VAT Compliance Seminar Workshop July 11, 2015 – Saturday, BIR Examination: Their Procedures and Taxpayer’s Defenses For a non-experienced taxpayer, BIR tax examination is fearsome and inconvenient.
Learning from the lessons of the 2014 taxable year filing season this April 2015 and to further enhance your tax and accounting knowledge towards ensuring your tax compliance as a taxpayer moving forward , Tax and Accounting Center, Inc. offers the following seminars and workshops for June 2015 Philippines: June 4, 2015 – Thursday, How to Analyze Financial Statements for Managers & Entreprenuers Financial statements are not for compliance filing only. Learn how you could understand deeper the implications of the figures on the financial statements to assess risks and avail of opportunities. Learn more…How to analyze Financial Statements For Managers & Entreprenuers June 5-6, 2015 – Friday & Saturday, Basic Business Accounting and BIR VAT Compliance Seminar Workshop Bookkeepers are not always the person you could trust 100%. To determine whether they are delivering what they should be under your terms and agreement with them, you must have a working
Learning from the lessons of the 2014 taxable year filing season this April 2015 and to further enhance your tax and accounting knowledge towards ensuring your tax compliance as a taxpayer moving forward , Tax and Accounting Center, Inc. offers the following seminars and workshops for May 2015 Philippines: May 2, 2015 – Saturday, Compensation: Computations and Must Know Exemptions Learn the computations of basic compensation, minimum wage, overtime pay, holiday pays, and other necessary computations for determining how much an employee should receive in any cut-off. Based on such salaries, learn how to compute mandatory deductions, and withholding tax due. You will likewise learn salaries and wages exempted from withholding tax on compensation and fringe benefits tax applications. Learn more…Compensation: Computations and Must Know Exemptions Philippines. May 6, 2015 – Wednesday, How to Analyze Financial Statements for Managers & Entreprenuers Financial statements are not for compliance filing only. Learn
By: Garry S. Pagaspas, CPA Comes 2014 calendar year filing season, taxpayers, accountants, and tax agents in the Philippines are on their respective schedules for the filing of the annual income tax returns with attached audited financial statements not later than April 15, 2015. During tax seasons in the Philippines, the following tax mistakes on the audited financial statements (AFS) and annual income tax returns (ITR) in the Philippines should be avoided: 1. Excessive Retained earnings subject to 10% IAET Improper accumulation of earnings after tax is subject to 10% and an indicator of the same on the face of the audited financial statements is the glaring free retained earnings more than the paid-up capitalization. Under Section 43 of the Corporation Code of the Philippines, as amended, domestic corporations are not allowed to maintain free retained earnings more than 100%. In Section 29 of the Tax Code, as amended, a 10%
By: Garry S. Pagaspas, CPA Under Republic Act No. 9504 implemented by Revenue Regulations No. 10-2008, statutory minimum wage earners are exempted from income tax, and consequently from withholding tax on compensation. While this is a much welcomed legislation for the labor sector, some employees and employers in the Philippines are not aware on how to determine whether or not the salary or compensation in the Philippines is within the statutory minimum wage. For this purpose, this articles attempts to share simple rules on how to determine tax exempt statutory minimum wage in the Philippines. How to determine minimum wage for daily paid employee Philippines? For a daily paid employee, simply compare the employee rate per day with the minimum wage of NCR (e.g. 481 a day inclusive of ECOLA). If rate is equal to minimum wage, then, the same is exempted from withholding tax on compensation – basic minimum
By: Garry S. Pagaspas, CPA As most would be aware, a foreign corporation outside of the Philippines could have a number of choices on what to register in the Philippines for its intended operations such as the following: Philippine subsidiary where the foreign corporation would own majority of shares of stock of the local domestic company; Domestic corporation where the investor would along with the rest would incorporate a local corporation without the foreign corporation becoming a stockholder; Philippine branch – How to Register Philippine Branch?; Regional Operating headquarters (ROHQ) – How to Register ROHQ in the Philippines? ; Regional or Area headquarters (RAHQ); and, Representative Office in the Philippines – How to Register Representative Office in the Philippines? A good choice of legal entity to be used in the Philippines would be a challenging one for the foreign investor and would depend on a number of factors like intended operations,
By: Tax ad Accounting Center, Inc. On the context of faith, we put God in every thing we do. Please allow us to go beyond business articles (tax, accounting, and etc.) and share our moment of joy with the blessing of Pope Francis visit from January 15-19, 2015. Seeing him strengthened our faith, reminded us of the true meaning of humility, compassion, and love of others. Hearing his homily in the concluding mass at Quirino Grandstand, Metro Manila, Philippines participated by a crowd estimated to be aroung 6-7 million Filipinos last January 18, 2015 would strengthen our faith and admiration of the Lord Jesus . Below is the full text of the Homily of Pope Francis in Quirino Grandstand, Philippines last January 18, 2015 as interpreted by Msgr. Mark Gerald Miles in English and lifted from GMA. “A child is born to us, a son is given us” (Is 9:5).
By: Tax ad Accounting Center, Inc. On the context of faith, we put God in every thing we do. Please allow us to go beyond business articles (tax, accounting, and etc.) and share our moment of joy with the blessing of Pope Francis visit from January 15-19, 2015. Seeing him strengthened our faith, reminded us of the true meaning of humility, compassion, and love of others. Hearing his homily in University of Sto. Tomas encounter with the youth in the Philippines last January 18, 2015 would tell us about using the modern information for good and helping others, about love (to learn how to love, and how to beloved, love for the environment to counter climate change in the Philippines, to love the poor). Below is the full text of the Homily of Pope Francis in University of Santo Tomas encounter with the youth last January 18, 2015 as interpreted
By: Tax ad Accounting Center, Inc. On the context of faith, we put God in every thing we do. Please allow us to go beyond business articles (tax, accounting, and etc.) and share our moment of joy with the blessing of Pope Francis visit from January 15-19, 2015. Seeing him strengthened our faith, reminded us of the true meaning of humility, compassion, and love of others. Hearing his homily in Tacloban City with a crowd of 200,000, mostly, Super Typhoon Yolanda survivors not only console them, but also gave every one hope and remind each of us that during hardship in life, one is not alone. Below is the full text of the Homily of Pope Francis in Tacloban City last January 17, 2015 at Daniel Z. Romualdez Airport as interpreted by Msgr. Mark Gerald Miles in English. We have a high priest who is capable of sympathizing with our
By: Tax and Accounting Center Philippines Under the Local Government Code of the Philippines of 1991 or Republic Act No. 7160, a real property tax (RPT) in the Philippines ranging from 1% to 2% of the assessed value of the real property. Assessment of the property is based on a certain percentage of the fair market value of the property depending on the actual use of the property. Under Section 234 of the Local Government Code of the Philippines, the following five real property tax exemptions are provided: 1. RPT exemption on government real properties “Real property owned by the Republic of the Philippines or any of its political subdivisions except when the beneficial use thereof has been granted, for consideration, or otherwise, to a taxable person” Under this, a government owned property used in furtherance of its governmental functions. However, if the use of such government owned property is granted
Live Weninar: How to analyze Financial Statements Accounting for Correct Business Decision Making?
Onsite Training: Basic Bookkeeping for Non-Accountants
Live Webinar: SEC Dividend Declarations
Live Webinar: Returns and Reports Preparation under eBIR Forms and Online Submissions
Live Webinar: Value Added Tax: In and Out
Onsite Seminar: BIR Examination: Their Procedures and Our Defenses
Live Webinar: Ease of Paying Taxes Highlights with CPD Credits
Live Webinar: Input VAT Refund
Live Webinar on Ph Payroll Computations and Taxation
Live Webinar: Understanding Invoices and Invoicing under EOPT with CPD Credits
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