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- Registration
- Latest Issuances for Effective Tax Compliance & Interpretations of Tax Laws
ATTY. NELSON GARGOLESPart 1: Registration of Taxpayers (RR 7-12)
• Who are required to register
• What are required to be registered
• When to register
• Where to register
Books of Accounts
• Who are required to keep books of accounts
• Kinds of Books of Accounts
• Registration of Books of Accounts (RMC 82-08)
• Preservation of Books of Accounts (RR 17-13) (RR 5-14)
Invoices and Receipts (RR 18-12) (RMO 12-13)
• Who are required to issue
• Rules in Printing Invoices and Receipts
• Principal Receipts/Invoices
• Supplementary Receipts/Invoices
• Validity of Invoices and Receipts
Cash Register Machine (CRM) (RR 11-04) (RR 10-15)
• Use of Non-thermal paper
• Information in CRM tape
Inventory List (RMC 57-15) (RMC 61-15)
• Coverage
• New Requirement
ATTY. NELSON GARGOLES
GARGOLES LAW OFFICE
- Lunch Break
- Latest Issuances for Effective Tax Compliance & Interpretations of Tax Laws
ATTY. NELSON GARGOLESPart 2: Tax Returns and Schedules
Tax Returns
• EFPS and eBIR Forms (RR 6-14) (RR 5-15) (RMC 19-15)
• TAMP Taxpayers (RMO 20-14)
Income Tax
• Tax Exemption Rulings (RMO 34-14) (RMC 60-14)
• A BIR Certificate of Tax Exemption is not required for a non-stock, non-profit educational institution to enjoy the income tax exemption- The Abba’s “Orchard School, Inc. vs. CIR (C.T.A. CASE NO. 8377. November 4, 2014)
• Marginal Income Earners (RR 11-00) (RMC 7-14)
• Destruction/verification of loss (RMO 6-12)
• Retirement and Benefits Plan (RMC 39-14)
• Inurements prohibition under Sec. 30 of NIRC (RMC 51-14)
• Stock Option Plans (RMC 79-14)
• Substantiation requirements for Donations (RMC 86-14)
Value Added Tax
• Raw Cane Sugar (RR 4-15)
• VAT on interest income derived from loans granted to its related parties- CTA EB Case No. 1070 dated December 4, 2014
Expanded Withholding Tax
• Requirements for deductibility of certain expense (RR 12-13) (RMC 63-13)
• Summary Alphalist of Withholding Agents/Payors of Income Payments subjected to Creditable Withholding Tax at Source (SAWT) (RR 2-15)
• Submission of Alphalist of Employees (RR 1-14) (RMC 5-14)
Withholding Tax on Wages
• New De Minimis Benefits (RR 1-15)
• Increase of other benefits from P 30,000 to P 82,000 (RR 3-15)
• Issuance of TIN Card (RMC 20-15)
• Documentary Requirements (RMC 70-13)
• Update of employment status (BIR Form 2305) (RMO 20-15) (RMC 59-15)
• BIR Form 2316 (RR 2-15)
• The duty to withhold the tax on compensation upon accrual- ING Bank. N.V., engaged in banking operations in the Philippines as ING Bank N.V. Manila Branch vs. Commissioner of Internal Revenue G.R. No. 167679, July 22, 2015ATTY. NELSON GARGOLES
GARGOLES LAW OFFICE