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High-Profile Tax Evasion Cases: Lessons for Ordinary Taxpayers

  The Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) have been implementing their Run After Tax Evaders (RATE) program since 2005. The program aims to investigate criminal violations of the National Internal Revenue Code of 1997 and prosecute criminal cases that will generate maximum deterrent effect, enhance voluntary compliance, and promote […]

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Tax Awareness Month

In 2005, April was declared as Tax Awareness Month by virtue of Proclamation No. 812, s. 2005, putting a premium on the “value of taxes to our society” and how “taxation plays a pivotal and crucial role in nation building.” This coincides as well with the deadline for the filing of our annual income tax […]

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UPMG gets on board the TRAIN!

MANILA, Philippines – The Tax Whiz Academy (TWA) of the Asian Consulting Group (ACG) capped off the week before going to a long weekend through another seminar about the Tax Reform for Acceleration and Inclusion Law with the United Print Media Group (UPMG) last Friday, April 6, 2018 at the White Knight Hotel, Intramuros. UPMG is a formidable […]

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Board of Investments (BOI) Accounting for Non-Accountants Seminar

MAKATI, Philippines – The Tax Whiz Academy (TWA) of the Asian Consulting Group (ACG) conducted a special session on the Fundamentals of Accounting and Finance for the officers and staff of the Board of Investments (BOI) held at the Crowne Regency Hotel on April 5, 2018. The BOI is an agency under the Department of […]

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Render to Caesar?

Is tax really a “necessary evil” that we all have to deal with? Fr. Dennis Yu’s Render to Caesar? The Morality of Taxation gives a different look at taxation using a moral lens taking into account few contemporary issues as shared by Dr. Jess Estanislao in its preface, “common good” as the justification for taxation […]

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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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