On June 30, 2022, the BIR issued Revenue Regulations 6-2022, which removed the five-year validity period on all manual and system generated principal and supplementary invoices and receipts Who are the covered taxpayers of RR No. 6-2022? According to Revenue Regulations (RR) No. 18-2022, a taxpayer with expiring Authority to Print (ATP) for its receipts/invoices …
Asian Consulting Group (ACG) successfully concluded Session 1 of its 12th anniversary webinar series, ‘Game-Changing Strategies to Handle Your Taxes.’ The event, which focused on input VAT refunds and best practices, featured a presentation by Mr. Luis Zafe, CPA, ACG’s Senior Tax Associate, followed by an interactive Question-and-Answer session moderated by ACG’s Chief Operating Officer, …
ACG Successfully Concludes Day 1 of 12th Anniversary Tax Webinar Read More »
The Bureau of Internal Revenue has introduced a streamlined VAT refund process in connection with the Ease of Doing Business Law. The effort has reduced the burden for VAT-registered entities in claiming refunds, which particularly benefits businesses engaged in zero-rated transactions. In relation to this, Asian Consulting Group (ACG) helps businesses navigate their way through …
ACG Celebrates 12 Years with Exclusive Game-Changing Tax Webinars Read More »
The Asian Consulting Group (ACG), a leading tax expertise provider for a decade, is thrilled to celebrate its 12th Year Anniversary with the theme, “Unveiling Your Game-Changing Tax Strategies.” ACG aims to emphasize its commitment to excellence, showcasing accomplishments, partnerships, and initiatives over the years. ACG has lined up game-changing events, including webinars, seminars, consultations, …
Asian Consulting Group Unveils Game-Changing Tax Strategies on Its 12th Anniversary Read More »
The Philippine Tax Whiz discusses the non-imposition of surcharge per BIR Revenue Memorandum Circular 43-2022 For what kinds of tax violations would I get imposed a 25% surcharge penalty? What are the cases that require an additional 25% surcharge under Sec. 248(A) of the tax code? Under Sec. 248(A) of the Tax Code, a 25% …
[Ask The Tax Whiz] Is there a surcharge in amending tax returns? Read More »
The ceremony, held on September 07, 2023 at Banquet Hall, Chancery, Embassy of Malaysia, was attended by esteemed representatives. From ACG, the signatories included the Board of Directors, Jose Magsaysay, Jr., Ramon Lopez, and Hazel Mendoza. On behalf of MCCI, the MOU was endorsed by its President, How Han Hui, and its Chairman, Edward Ling. …
The Philippine Tax Whiz explains the mandatory benefits of senior citizens and PWDs for their online transactions in relation to the substantiation requirements of receipts or invoices to be considered VAT-exempt What are the benefits that Senior CItizens (SCs) and Persons with Disabilities (PWDs) can avail? Senior citizens (SCs) and persons with disabilities (PWDs) have …
The Philippine Tax Whiz discusses the clarification from Revenue Memorandum Circular 80-2023 issued by the Commissioner of Internal Revenue on VAT zero-rated transactions and Revenue Regulations 3-2023 What is Revenue Regulations No. 3-2023 and when does it become effective? Revenue Regulations No. 3-2023 provides that local supplier of goods and/or services of registered export enterprises (REEs) …
The Asian Consulting Group has successfully concluded a two-day financial seminar led by ACG’s Founding Chairman and Chief Tax Advisor, Mon Abrea. The event was held on August 22 to 23 at the ARC Camana Bay in collaboration with the Philippine Embassy in Washington D.C., Migrant Workers’ Office (MWO) Washington D.C., and the Overseas Workers …
ACG Successfully Concludes Financial Literacy Briefings in Cayman Islands Read More »
The Philippine Tax Whiz discusses whether a scanned copy of a receipt or invoice is considered an original document and its difference from an electronic document pursuant to the E-Commerce Act Are there specific requirements for an electronic document to be considered as an original document? Republic Act (RA) No. 8792 or the E-Commerce Act …
[Ask The Tax Whiz] Are scanned receipts and invoices considered as original documents? Read More »
