Author name: MGMCO

We can all use a little help in this trying times, and your easy reference we have compiled here all the recent issuance of BIR related to COVID-19. BIR Issuance Date of Issuance Description RMC No. 36-2020 3-Apr-20 The BIR recently issued RMC No. 36-2020 to provide further clarification on the exemption from Documentary Stamp […]

We know what privileges are given to PWD (Persons with disabilities), such as discount and VAT exemption on their purchases. The question now is how will business treat such privileges in the books? This is what we will answer in this article. Who are qualified PWD? Contrary to popular belief, not all person who claims

BIR with the issuance of Revenue Regulation 9-2019 (RR 9-2019) amends sections of RR 05-2017 for the implementation of Act. No. 10754, entitled “An Act Expanding the Benefits and Privileges of Persons with Disability (PWD)”. RR 9-2019 further clarifies the discounts and exemptions by providing new paragraphs to categorize and list basic necessities and prime

Good news for the workforce, differential from maternity leave benefit is tax-exempt. IRR for tax treatment of the extended maternity benefit was released by BIR last Oct. 9, 2019. The IRR covers the taxability of salary differential from longer maternity leave for the workforce in the private sector. BIR commissioner Ceasar Dulay said in the

With the increasing demand for workforce, opportunities for employment are critical to service companies such as ITBPO. As of January 2019, the Philippine Statistic Authority (PSA) reported employment status across the country. National Capital Region (93.6%), Autonomous Region in Muslim Mindanao (93.7%) and CALABARZON (93.9%) had the lowest employment rates while Cagayan Valley and Western

The dramatic increase in globalization of trade has also led to harmful tax practices that have resulted in tremendous losses of tax revenues for governments. The most significant international tax issue emerging from globalization confronting tax administrations worldwide is transfer pricing. Section 50 of the National Internal Revenue Code of 1997, as amended (Tax Code),

On 19 December 2017, President Rodrigo Duterte signed into law package 1 of the TRAIN bill or Republic Act No. 10963. TRAIN law aims to simplify tax law provisions in order to ensure a more efficient and just tax system. An implied purpose of the new law is to increase collection to support infrastructure drive

Business registration in the Philippines has not been the easiest among the ASEAN countries. In fact, this has been one of the disadvantages of doing business in the Philippines as business registrations usually take weeks, if not months to complete. In November of 2017 World Bank report on the best and worst countries for doing

The United States of America (US) has released several statements in relation to bringing jobs to the US. These changes in policy are related to the goods manufactured offshore being shipped back to the US. These manufactured goods include appliances, electronic devices and gadgets. The shifting of US economic policies to other countries has been