Author: Bong Corpuz & Co. CPAs

  • CORPORATION : BOARD OF DIRECTORS/TRUSTEES/OFFICERS

    Corporate Code of the Philippines [Sec. 23-35] TITLE III : BOARD OF DIRECTORS/TRUSTEES/OFFICERS Sec. 23. The board of directors or trustees. – Unless otherwise provided in this Code, the corporate powers of all corporations formed under this Code shall be exercised, all business conducted and all property of such corporations controlled and held by the board…

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  • Increase of capitalization thru cash

    Basic Requirements: 1) Certificate of Increase of Capital Stock; 2) Treasurer’s Affidavit certifying the increase of capital stock, the amount subscribed and the amount received as payment thereto; 3) List of stockholders as of date of meeting approving the increase, indicating their nationalities and their respective subscribed and paid-up capital on the present authorized capital…

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  • TIPS: Debt Collection Agency

    Readers, here are tips to equip yourself with basic information of your rights when it comes to debt collection. 1. You have the right to ask the debt collector a copy of your Statement of Account (SOA) duly signed.  For example, credit card issued by Citibank then it must be signed  by the Citibank.  Please…

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  • The BIR Rush and the eFPSyntax of 2012

    Yesterday’s tax filing a.k.a. Annual Income Tax Return (1702 for Corporations and Partnerships) was a total rush! Is it? Or it was a total havoc? Of course, in any system that is under a transition process will always experience some sort of glitches. Anyhow, the issuance of Revenue Memorandum Circular (RMC) No. 10-2012, the Bureau…

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  • Originally posted on 24/7 Wall St.: Many of the world’s industrialized countries have scrambled to cut their corporate tax rates to stay competitive in the face of the economic crisis. The United States is not among them. Recently, the U.S. became the industrialized nation with the highest statutory corporate tax rate. Read The Eight Countries Taxing…

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