The Corporate Recovery and Tax Incentives for Enterprises Act (CREATE Act), was passed into law on March 26 this year. It granted tax relief for companies , provided transparent tax provisions, and further increase the competitiveness of the Philippines.
In relation to the possible surge of COVID-19 cases due to the Delta variant placing the National Capital Region (NCR) and other areas in the country under Enhanced Community Quarantine (ECQ) and Modified Ehanced Community Quarantine (MECQ), here are details on the extension of the deadline of filing and payment of taxes and other related matters.
Do you intend to use a Computerized Accounting System for your business? All taxpayers intending to use the following: Computerized Accounting System (CAS), Computerized Books of Accounts (CBA) and/or its Components including the ESS, Middleware and Other Similar Systems shall NOT be required to secure Permit To Use (PTU). Instead, they shall be registered subject to the following policies: Register… View Post
The TAX REFORM ACCELERATION AND INCLUSION (TRAIN) repealed several sections of the Tax Code including the Personal and Additional Exemptions. Read about TRAIN #TaxReformNow here. FOR QUESTIONS ON INCOME TAX ON INDIVIDUALS UNDER THE TRAIN LAW, CHECK THE FAQ HERE. Want to file and pay your taxes in minutes? Taxumo is the most widely used online tax compliance tool in… View Post
Have you heard of the Voluntary Assessment and Payment Program VOLUNTARY ASSESSMENT AND PAYMENT PROGRAM (VAPP) of the Bureau of Internal Revenue? UPDATE: EXTENDED UNTIL JUNE 30,2021 I am sure some of you readers have undergone a BIR Tax Audit and I am sure you are aware that a deficiency tax assessment may balloon to millions of pesos if… View Post