Running after tax evaders the right way

With the series of tax evasion cases being filed by the Bureau of Internal Revenue (BIR) against individual and corporate taxpayers, it is very important to know the nature, scope and process of the Run After Tax Evaders (RATE) Program, which was initiated in 2005 by the Department of Finance (DOF) and BIR. Pursuant to […]

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Fire your accountant

Tax Reform for Acceleration and Inclusion (TRAIN) law is part of the comprehensive tax reform program of the Duterte Administration to make our tax system simpler, fairer and more efficient. But it seems others are taking it differently. They waited for the TRAIN but didn’t ride when it arrived–business as usual–as they continue to negotiate, […]

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Catch The TRAIN on February 21!

Ever noticed how much bigger your take-home pay has been for the month of January? Are rumors true about the lower and simplified tax system for self-employed and professionals (SEPs)? No more monthly percentage tax? All these are part of the recently passed Tax Reform for Acceleration and Inclusion (TRAIN) Law. Be in the know […]

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Higher Pay for Tax Collectors

With the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law, a Certified Public Accountant (CPA) earning a net of P14,000 in the Bureau of Internal Revenue (BIR) will receive a little more this month, but with a higher revenue collection goal of P2.039 trillion for the year. After police officers received a […]

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General and Estate Tax Amnesty

Aside from the lowering of personal income tax and simplification of tax compliance for small businesses, the lowering of transfer taxes, i.e., donor’s and estate taxes, is another tax relief for ordinary Filipinos. Under the old estate tax system, the net estate of the deceased was subject to up to 20 percent estate tax with […]

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The Tax Whiz Academy Announces the Launch of the TRAIN Edition of “Got A Question About Taxes? #AskTheTaxWhiz”

The Asian Consulting Group (ACG), a social enterprise, through its Tax Whiz Academy founded by The Philippine Tax Whiz, Mon Abrea, is excited to announce the launch of the Tax Handbook: TRAIN Edition containing 100 Questions to answer the most common and intriguing questions about taxes and how the TRAIN Law affects basic commodities, income […]

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Catching the Train Seminar

Don’t be left by the TRAIN! Last December 19, 2017, President Duterte signed into law Republic Act R.A. No. 10963 more popularly known as the Tax Reform for Acceleration and Inclusion (“TRAIN”) which has since been effect starting January 1. With all the changes this presents, it is of great importance to be informed and stay updated […]

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TRAIN chugs along

Original article published on inquirer.net The Tax Reform for Acceleration and Inclusion (TRAIN) is expected to make our tax system simpler, fairer and more efficient. The substantial cuts in personal income tax will definitely increase the take-home pay of all individuals earning above minimum wage, but not more than P8 million a year. The TRAIN, […]

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New tax regime for the new year

The overriding principle of the Tax Reform for Acceleration and Inclusion Act (RA 10963) is to make our tax system simpler, fairer and more efficient. Its key component is the lowering of the personal income tax (PIT), which should benefit 99 percent of Filipino families, according to the Department of Finance (DOF). While minimum wage […]

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Veto or Not Veto?

Exercising his power to veto, President Rodrigo Duterte inked the 106-paged Tax Reform Acceleration and Inclusion into law removing five provisions from the original enrolled bill that will not only update our archaic tax system, but also chip in to his “Build, Build, Build” priorities which will benefit more than 7.5 million Filipinos to take […]

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