Category: Bong Corpuz
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CMEPA 101: What Savers and CPAs Need to Know About the New 2025 Deposit Tax
There has been growing public discussion, and some confusion, surrounding the recent changes in the taxation of deposit interest income under the Capital Markets Efficiency Promotion Act (CMEPA) or Republic Act No. 12214. As finance and tax professionals, it’s important to understand these changes based on actual provisions of the law and regulatory issuances, rather…
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Getting Through a Pandemic is Tough, Doing Taxes Alone Doesn’t Make It Easier.
Even with the challenges brought by the Coronavirus, tax deadlines are still very real. While some dates may have been extended, they’re still coming, and fast. Are you keeping up with your tax compliance? Or still trying to handle it all by yourself? You can check the updated tax filing and payment deadlines on the…
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An Economic Overview of the Philippines Post-COVID-19
As the Philippines continues to navigate the effects of the COVID-19 pandemic, recent economic indicators suggest a mixed, and at times contradictory, picture of the country’s financial health. While the Philippine Stock Exchange Index (PSEi) remained resilient around the 6,297.78 level during this period, key economic fundamentals paint a less optimistic story. The Employment Crisis…
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Good News: No More Mayor’s Permit Needed for BIR Registration!
Revenue Memorandum Circular (RMC) No. 57-2020 In line with the BIR Citizen’s Charter and efforts to streamline business processes, the Bureau of Internal Revenue has removed the Mayor’s Permit as a mandatory requirement when registering a new business in the Philippines. This move supports the government’s initiative to improve the ease of doing business in…
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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…
Bong Corpuz & Co. CPAs 