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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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Citizen Tax Planning

Any day from now, we expect the Bicameral Committee to submit the final version of the Tax Reform for Acceleration and Inclusion (TRAIN) package one to Malacañang for the approval and signature of President Duterte. If everything goes according to plan of the Department of Finance (DoF), the tax reform law will be implemented in […]

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How Can You Stop BIR Audit?

“Even if you pay the right taxes, the Bureau of Internal Revenue (BIR) will still audit and assess you to pay more taxes.” Agree? Undeniably, this is a common sentiment among taxpayers which has resulted in lower voluntary payments. It’s either they allocate a “budget” to compromise their tax assessments, or they get away with […]

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Paying our dues

If the Tax Reform for Acceleration and Inclusion (Train) bill gets signed into law before the year ends, this will be the biggest legislation that will impact every Filipino in three decades. President Duterte may be infamous for his war against drugs, but he will definitely win the hearts of 42.7 million hardworking Filipinos in […]

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Andrean Centennial Award | The Philippine Tax Whiz

In recognition of his accomplishments reflecting the institution’s 4 Pillars of SAS education: Spirit of Mission, Service to Church and Community, Excellence in Human Endeavor and Andrean Accompaniment, St. Andrew’s School conferred the Andrean Centennial Award to The Philippine Tax Whiz, Raymond “Mon” Abrea as one of its 100 Outstanding Alumni. He received the special distinction during […]

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THOUGHT LEADERS | The Philippine Tax Whiz

As the country gears up for major tax reforms, The Philippine Tax Whiz shares what it takes to transform the system. Know the person behind “The Philippine Tax Whiz,” a multi-awarded young leader and tax advocate who founded a social enterprise to help taxpayers pay the right taxes, and a non-profit organization to promote youth […]

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ONE WITH THE ASEAN

ABREA CONSULTING GROUP (ACG), the premier social enterprise in strategic tax advisory in the Philippines fully supports the 16th Franchise & Business Expo organized by the Association of Filipino Franchisers, Inc. (AFFI).     With its theme, ONE WITH THE ASEAN, as one of AFFI’s advocacy partners, ACG together with CSR Philippines will be providing free […]

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Death by Taxes

In the Philippines if you are a hard working employee receiving at least P30,000 monthly salary, your income will be subject to 30% personal income tax same as the corporate income tax. And if you work harder to earn more than P500,000 a year, you will pay the highest income tax rate at 32% while […]

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Lift bank secrecy now or never!

As long as it will apply first to all our honorable congressmen and senators, I think we should pass it first before any reform in government takes effect to stop corruption, tax evasion or even smuggling. This, together with the Freedom of Information Act will greatly uplift morale and public trust, and promote honesty and […]

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