Saturday February 24 , 2018
Business Mirror Articles

Business Mirror Articles

BDB Law's "Tax Law for Business" is a column which appears in the opinion section of Business Mirror every Thursday.

The articles highlight the most significant developments in Taxation as a result of amendments in the law and new issuances from the Bureau of Internal Revenue (BIR) and other administrative agencies. It also headlines recent pronouncements of the courts and quasi-judicial bodies involving tax and corporate matters.

Documents

Polishing the TRAIN Polishing the TRAIN

A discussion on the Congress watered down some of Tax Reform for Acceleration and Inclusion (TRAIN) original parts. 

TRAIN law compliance: Excise tax on automobiles TRAIN law compliance: Excise tax on automobiles

A discussion the context of Philippine taxation, automobiles are, by and large, subject to excise tax.

VAT refunds under TRAIN VAT refunds under TRAIN

A discussion on the lower income-tax rates and higher excise-tax rates in the Tax Reform for Acceleration and Inclusion (TRAIN).

Dissecting the TRAIN law: A look at the optional flat tax Dissecting the TRAIN law: A look at the optional flat tax

A discussion on one of the major changes brought about by Republic Act 10963, otherwise known as the TRAIN law, is the modification of income taxes.

TRAIN law: Estate tax and possible implications TRAIN law: Estate tax and possible implications

A discussion on the National Internal Revenue Code provided a table of rates that the estate of a decedent would pay if the value of the net estate met a certain threshold.

Sweet tax for health Sweet tax for health

A discussion on the Comprehensive Tax Reform Program (CTRP) under this current administration is one of the major amendments in the Philippine Tax Code since the 1997 Tax Reform.

Tax on compensation income, in a nutshell Tax on compensation income, in a nutshell

A discussion on the Republic Act 10963, otherwise known as the Tax Reform for Acceleration and Inclusion (TRAIN) Act, was signed into law on December 19, 2017.

Third-party information is not ironclad Third-party information is not ironclad

A discussion on the tax examination includes findings of under-declaration of sales and/or purchases through the generated data.

How interest penalties will change under the tax reform How interest penalties will change under the tax reform

A discussion on the nonpayment or deficiency in the payment of taxes would always give rise to the running of interests

Tax reform highlights Tax reform highlights

A discussion on the phase 1 of the proposed tax reform is yet to be signed into law.

Tax reform on Peza Tax reform on Peza

A discussion on the tax reform that is being proposed by the government.

Filing and processing of refund claims Filing and processing of refund claims

A discussion on the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular 89-2017 (RMC 89-17), which amended the previously issued rules relative to the processing of claims for refund/issuance of tax credit certificate (TCC) and the required revenue officials authorized to approve said claims.

Payable in the context of withholding Payable in the context of withholding

A discussion on many countries, one of the most commonly used structural devices to prevent noncompliance of tax obligation is through the withholding of tax at source.

Should substantial compliance be enough? Should substantial compliance be enough?

A discussion on the Tax Code provides that a taxpayer shall be informed in writing of the law and the facts on which the assessment is made

VAT zero rating of sale of services under the Peza law VAT zero rating of sale of services under the Peza law

A discussion on the section 108(B)3 of the 1997 Tax Code, as amended, provides for the value-added tax (VAT) zero rating on supply of services performed in the Philippines.

Pay up first! A real-property tax story Pay up first! A real-property tax story

A discussion on the owner of a real property, or a person having interest therein, is liable for the payment of real-property taxes.

Effective tax interest rate is 60% Effective tax interest rate is 60%

A discussion on the taxpayers are misled into thinking that their tax liabilities are limited to the basic tax due plus a straight 20-percent annual interest rate.

Situs of local taxes in case of boundary dispute Situs of local taxes in case of boundary dispute

A discussion on every prudent business owner would know that securing a mayor’s permit is a prerequisite to carry on a business within a particular locality.

The applicability of VAT in pre-incorporation subscription agreements The applicability of VAT in pre-incorporation subscription agreements

A discussion on one of the most important considerations for investments is the calculated rate of return on investment.

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