Since validation of tax compliance is a precondition to entering into and is a continuing obligation in government contracts, the Bureau of Internal Revenue (BIR) has issued regulations dating back to 2005 providing guidelines for the filing and processing of applications for tax clearance required from participating...
Section 48 of the Corporation Code outlines the procedure in introducing amendments to by-laws. In her article "When rules are not enough" in BusinessWorld, PwC Philippines Tax Senior Manager Lars Dalistan-Levosada discusses the SEC's legal opinion on why Section 48 is not enough to enforce an amendment to a...
PwC Philippines Tax Manager Rey Maniego takes us through the BIR guidelines in implementing the TRAIN Law on taxing sweetened beverages. Details are in "Rules for implementing the sweetened beverage tax".
“No demand, no delay.” This rule is spelled out by Article 1169 of the Civil Code, where those obliged to deliver or to do something incur a delay from the time the obligee (or the person to whom an obligation is owed) judicially or extrajudicially demands fulfillment of the obligation. When it comes to tax...
Given the advent of international real estate brokerage and consulting corporations in the Philippines, can foreigners invest in corporations engaged in the business of real estate services? Get the answer in "Foreign nationals and the practice of real estate service" written by PwC Philippines Tax Senior Consultant Al...
PwC Philippines Tax Senior Consultant Cyril B. Pestilos takes us through the SEC online registration process, including some areas of improvement, in "Now online: SEC company registration".
To urge voluntary compliance among taxpayers and to deter Tax Code violations, the BIR has been aggressively been using the much-feared "Oplan Kandado" (as the name suggests, it involves closure of an establishment). Given such drastic measure, how can taxpayers defend themselves when faced with Oplan Kandado findings?...
BIR Form 1701Q is another tax return that has undergone changes because of the TRAIN Law. PwC Philippines Tax Senior Consultant Mark Paul C. Gecha takes us through its changes in "Cue the new 1701Q"
The BIR issued Revenue Memorandum Circular No. 27-2018 on revised and new tax forms that are included in the TRAIN law. Why does PwC Philippines Client Accounting Services Assistant Manager Renz Boaloy laud the BIR for this? Read "Why not make FQ like EQ?".
Over the years, the Bureau of Internal Revenue (BIR) has been gradually regulating the e-commerce sector. PwC Philippines Tax Senior Manager Sam Oreta takes us through the BIR's actions in keeping up with technological evolution in her article "Technology and tax".
With the recent passage of the TRAIN law, self-employed individuals and professionals may choose the tax rate to compute their income tax liability, subject to certain considerations. PwC Philippines Client Accounting Services Senior Manager Maybellyn Pinpin Malayao believes that with this development, the government...
PwC Philippines Tax Manager Ydang Kintanar-Lopez gives a rundown on the basics of the Data Privacy Act, including the consequences of non-compliance, in her article "Revisiting the privacy requirements".
