Live Webinar 1 & 2: BIR Tax Compliance for VAT Entity

You may not have all what it takes to master accounting, but your accounting and tax knowledge is indispensable for your entrepreneurial success. For tax purposes, simple things may mean a lot and may become a material issue. Thus, this seminar-workshop is intended to educate participants in basic BIR compliance and avoid headaches dealing with the tax authorities.

Learning Points:

Session 1

• Learn basic tax rules for VAT Registered Taxpayers
• Understand the basic minimum requirements of VAT Registered Corporation Taxpayers 
• To be aware of the different modes of filing and payment 
• To be aware of penalties imposed by the BIR; and 
• Understand the work of your regularly paid bookkeeper and reasonably estimate their retainer fees.
• Learn the BIR allowed books of accounts
• Learn how to record on books of accounts:
• • Cash receipts books
  • Cash disbursements books
  • General journal
  • General ledger
  • Subsidiary purchases journal
  • Subsidiary sales journal

Session 2

• Learn how to fill-out BIR Returns and avoid being assessed based on erroneous entries;
• Learn the BIR Returns and Attachments to filled based on the transaction;
• Comprehensive Illustration on preparing the following VAT related tax returns & reports:
  •  Monthly value-added tax returns (BIR Form No. 2550M)
  •  Quarterly value-added tax returns (BIR Form No. 2550Q)
  •  Summary List of Sales
  •  Summary List of Purchases
• Overview of other applicable tax returns for VAT entity:
  • Annual Registration (BIR Form No. 0605)
  • Application for registration (BIR Form No. 1903 – Corp.)
  • Documentary stamp tax return (BIR Form No. 2000)
  • Expanded Withholding taxes (BIR Form 1601-E)
  • Final Withholding taxes (BIR Form 1601-F)
  • Withholding tax on compensation (BIR Form 1601-C)
  • Certification of taxes withheld on compensation (BIR Form No. 2316)
  • Creditable withholding tax certificate (BIR Form No. 2307)
  • Quarterly income tax returns (BIR Form 1702Q)
  • Annual income tax returns (BIR Form No. 1702)

Question and answer on the later part of the webinar would allow you to seek clarifications on the above items.

Schedule and Duration:

February 22-23, 2024 (Thursday-Friday) at 1:30pm to 3:30pm

Package:

Webinar investment is PhP 3,920 (Inclusive of VAT). This webinar is inclusive of Webinar Certificate that you could process with PRC BOA for CPD credit units under self-directed learning.

Registration:

Be part of the learning community by reserving your slot here.

Resource Person:

Resource speakers of TaxAcctg Center are Certified Public Accountants with good experience in Public Practice as external auditors & tax practitioners.