Category: Bong Corpuz
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BIR Advisory Update: AITR Deadline Extended to June 15, 2020
In light of BIR Bank Bulletin No. 2020-08, taxpayers were granted an important adjustment regarding the filing of their Annual Income Tax Returns (AITR) for the year 2020. Here’s what you need to know: Extended Deadline Since June 14, 2020 fell on a Sunday, the Bureau of Internal Revenue (BIR) allowed AITR filings to be
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Know Your Rights: How the BIR Should Properly Serve Tax Notices
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Order (RMO) No. 40-2019, which sets clear procedures for the proper service of assessment notices, in accordance with Section 3.1.6 of Revenue Regulations No. 18-2013. This RMO aims to ensure due process in delivering the following BIR notices: How Does This Affect Taxpayers? According to
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Planning to Work in the Philippines as a Foreign National? Here’s What You Need to Know
If you’re a foreign national looking to work in the Philippines, it’s essential to be aware of the updated requirements and permits that govern foreign employment in the country. Key Work Permits for Foreign Nationals: Important Tax Compliance Notice The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Order No. 28-2019 to outline the policies
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The 3 Common Taxes that YOU need to KNOW.
The common Taxes, applicable to taxpayer, that you need to know are (1) Value Added Tax (VAT) or Percentage Tax (PT), (2) Expanded Withholding Tax (EWT), and (3) Income Tax. However, additional taxes may apply if there are related transactions such as the following: (1) Withholding Tax on Compensation (WTC) or most commonly know as
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One Person Corporation (OPC)
The SEC Commission En Banc has already issued and approved the Guidelines on the Establishment of a One Person Corporation (OPC) under Memorandum Circular No. 7, Series of 2019. Under the Guidelines, a natural person, trust or estate may form an OPC. The “trust”, however, does not refer to a trust entity, but to the
Bong Corpuz & Co. CPAs 