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.
Last January 21st, I posted a topic about Revenue Regualtions number 15 of 2010 (BIR RR 15-2010). Now, I would like to share a copy of the regulation for your reference. RR-15 of 2010 is all about an additional procedure and/or documentary requirements in submitting financial statements to the BIR. For example, in addition to disclosure … Continue reading RR 15 of 2010
Last last week, I was reading the latest issuance of the BIR's Revenue Regualtions (RR) No. 3-2010. And this is all about an additional taxpayers requirement. Yep yep, the new regulation is requiring all taxpayers to submit a "Statement of Management Responsibility" using, let me repeat, using the BIR required format. Wow, and mind you … Continue reading FYI: BIR RR No. 3-2010