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 … Continue reading The 3 Common Taxes that YOU need to KNOW.

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2017 STATEMENT OF MANAGEMENT’S RESPONSIBILITY (SMR) FOR SEC

For those searching for a copy of the latest, year 2016 - 2017,  Statement of Management's Responsibility (SMR) for the Securities and Exchange Commission (SEC).  Here it is:     LETTER HEAD OF THE COMPANY            STATEMENT OF MANAGEMENT’S RESPONSIBILITY _____________, 2017 The Securities and Exchange Commission SEC Building Mandaluyong City, Metro-Manila The management of … Continue reading 2017 STATEMENT OF MANAGEMENT’S RESPONSIBILITY (SMR) FOR SEC

The AASC alert and the RR 15-2010

A copy of alert from the Auditing and Assurance Standards Council (AASC) has been in my inbox a week ago and its only now that I find time to write for this blog about another topic. Anyhow, I am sharing you this alert for your information and reference. Find time to download and read this … Continue reading The AASC alert and the RR 15-2010

BIR related, How is a particular taxpayer selected for audit?

Officers of the BIR, like for example the Revenue District Officers, the Chief of Large Taxpayer Assessment Division, or the Chief of Excise Taxpayer Operations Division, or even the Chief of Policy Cases and Tax Fraud Division, are responsible for the conduct of audit and/or investigation.  The same offices are the one responsible for the preparation … Continue reading BIR related, How is a particular taxpayer selected for audit?

For CPAs: 2011 BOA Accreditation Applications

Here is a good news! News, news, news.... The Regional Trial Court Branch 128 of Caloocan City issued an injunction on the implementation of PRBOA Resolution No. 88, Series of 2009 and PRBOA Resolution No. 23, Series of 2010.  Now, until the final resolution of this case, the Board of Accountancy is not implementing these … Continue reading For CPAs: 2011 BOA Accreditation Applications