BDB Law recently conducted an exclusive client-only tax seminar Start the Tax Year Right to help clients keep up with the latest tax trends, rules, and requirements on 14 March 2023, 1:00 PM - 5:00 PM at the Legaspi Room of Makati Diamond Residences.
The topics discussed were:
1. The Reformed VAT System and Other Pending Legislations - This includes a discussion of the features of the reformed VAT System post-TRAIN and CREATE, and the issues and concerns surrounding it. It also covered a discussion on pending legislations including the Digital Tax, Ease of Paying Tax and Taxpayer Bill of Rights.
2. Regulatory Compliance on Tax Incentive Availment - This includes a discussion on the intricacies of complying with the regulatory submissions and requirements for entitlement to tax incentives under BIR, FIRB, and other IPAs. It includes a walk-through and sample illustration on how to comply with regulatory requirements, including enjoyment of VAT incentives. Incentives for renewable energy were also discussed.
3. Compliance with Local Taxes - This includes a review of the common problem areas in local taxation and the corresponding remedies and practical solutions in dealing with the issues. It also inlcudes a discussion of the salient features of the Real Property Valuation and Assessment Reform Bill.
4. Tax Filing Tips and Reminders - This includes a discussion of usual assessment suspects in the Income Tax Return (ITR) as well as practical tips and tax filing reminders. Latest issuances related to income tax filing shall also be discussed.
5. Latest Tax Updates and Court Decisions - This will focus on the eight (8) new legal concepts and jurisprudence that will change your tax world, as you know it.
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