Thursday November 23 , 2017
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

Republic Act 10668: Relaxing old cabotage restrictions Republic Act 10668: Relaxing old cabotage restrictions

A discussion on the July 21, 2015, the President signed Republic Act (RA) 10668 which amended the old cabotage law of the Philippines, with the intention of enhancing Philippine competitiveness in international trade and lowering the cost of shipping cargo to and from the Philippines.

Registration of labor organization, association or workers’ union Registration of labor organization, association or workers’ union

A discussion on the section 2 of the Corporation Code of the Philippines explicitly defines a corporation as an artificial being created by operation of law, having the right of succession and the powers, attributes and properties expressly authorized by law or incident to its existence.

Amending the Retail Trade Liberalization Act Amending the Retail Trade Liberalization Act

A discussion on the SENATE Bill (SB) 2121, or “An Act Amending Republic Act 8762, otherwise known as the Retail Trade Liberalization Act and For Other Purposes,” was filed last year in order to increase investments by foreign entities in the Philippines.

The hunting game The hunting game

A discussion on the 1920 the 18th Amendment to the United States’ Constitution took effect banning the manufacture, transportation and sale of intoxicating liquors; ushering in what is known in history as the Prohibition Era.

BIR orders taxpayers to submit CRMs/POS/SPMs inventory list BIR orders taxpayers to submit CRMs/POS/SPMs inventory list

A discussion in an effort to boost its monitoring of sales among business establishments, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) 36-2015 on June 8 mandating taxpayers to submit a one-time inventory list of all Cash Register Machines (CRMs), Point of Sales (POS) Machines, Special Purpose Machines (SPMs) or any other similar Machines Generating Sales Invoices or receipts that they own as of June 30, 2015.

Jurisdiction over the validity of revenue issuances Jurisdiction over the validity of revenue issuances

A discussion to supplement my previous article entitled “Certiorari Jurisdiction of the Court of Tax Appeals.”

PAL’s double whammy PAL’s double whammy

A discussion on the legal and tax battles, the Philippine flag carrier suffered a double whammy on the decisions recently promulgated by the courts.

Tax Incentives Management and Transparency Act Tax Incentives Management and Transparency Act

A discussion on the Senate Bill 2669, also known as the Tax Incentives Management and Transparency Act (Timta), was voted favorably on its third reading.

 The fallacy of ‘strictissimi juris’ on tax refund The fallacy of ‘strictissimi juris’ on tax refund

A discussion on the Court of Tax Appeals (CTA), in many of its decisions, declares that a taxpayer must prove every minute detail of his case since tax refund has the same nature as tax exemption where the law requires strict construction.

Bad debt Bad debt

A discussion on the purpose of determining the taxable income of a taxpayer engaged in trade or business or engaged in the practice of a profession, Section 34(E) of the Tax Code of 1997 allows the deductibility of debts actually ascertained to be worthless.

Only preponderance of evidence required in a claim for refund Only preponderance of evidence required in a claim for refund

A discussion on the current rules in the withholding-tax system, where almost all revenues are subject to withholding taxes at source, it is not unusual for taxpayers to incur excess income-tax payments.

Integrating the automated: The LRA-BIR eCAR Verification System Project Integrating the automated: The LRA-BIR eCAR Verification System Project

A discussion on our tax laws provide that before documents transferring real properties are registered, it is first required that the Bureau of Internal Revenue (BIR), through its commissioner or duly authorized representatives, has certified that such transfers have been reported, and the corresponding taxes thereon have already been paid.

 Capital asset but not subject to 6-percent capital gains tax Capital asset but not subject to 6-percent capital gains tax

A discussion on the type of imposable transaction taxes largely depends on the nature of the asset involved.

The king can do wrong The king can do wrong

A discussion on the past, men were governed by princes who dictated the course of human activity.

Certiorari jurisdiction of the Court of Tax Appeals Certiorari jurisdiction of the Court of Tax Appeals

A discussion on the seeking recourse to a court of law, an aggrieved party must avail of the appropriate remedy in the proper forum. In this article, I will discuss the recent Supreme Court (SC) decisions recognizing the jurisdiction of the Court of Tax Appeals (CTA) over special civil actions for certiorari under Rule 65 of the Rules of Court (ROC) and issues relating thereto.

Advance pricing agreement in PHL Advance pricing agreement in PHL

A discussion on the January 3, 2013, the Department of Finance issued the much-awaited Revenue Regulations (RR) 2-2013, which is now the consolidated transfer-pricing rules and regulations (RR) in the Philippines.

 Word ‘zero-rated’ required to be imprinted on VAT invoices/ORs supporting VAT zero-rated transactions Word ‘zero-rated’ required to be imprinted on VAT invoices/ORs supporting VAT zero-rated transactions

A discussion on the taxpayers engaged in the sale of goods or services which are subject to value-added tax (VAT) at zero percent are not liable to output taxes on said sales.

Common carriers exempt from local business taxes Common carriers exempt from local business taxes

A discussion on the one cannot stress too strongly the importance of ensuring the safe and efficient movement of people and goods in a modern economy.

VAT-refund claim: The CIR’s inaction is the decision itself VAT-refund claim: The CIR’s inaction is the decision itself

A discussion regarding the Commissioner’s decision, or inaction “deemed a denial,” that the taxpayer can take to the Court of Tax Appeals (CTA) for review.

Search Document

Keyword
Category

Shopping Cart

There are 0 items in your cart