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The barangay and Sangguniang Kabataan (SK) Elections finally happened yesterday after being postponed when President Rodrigo Duterte signed Republic Act 10952, moving it from October 2017 to May 2018. Never underestimate the business opportunities and amount of money that goes around during elections, even for barangay and SK level. Money comes from all sources, declared […]

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The corporate income tax reform now being pursued by the government is seen to invite more foreign investments into the country, a tax expert said. Raymond Abrea, president of Asian Consulting Group, the reform is a welcome development for both local and foreign corporations. “Our income tax will be more competitive across Asia Pacific region, […]

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Today is the deadline for the filing of annual income tax return (ITR) for taxable year 2017. The original deadline is on April 15 but since it falls on a Sunday, it was moved today, April 16. The Bureau of Internal Revenue (BIR) reminded already taxpayers to pay their income tax due correctly and on […]

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  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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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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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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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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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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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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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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