Is the filing of the Statement of Assets, Liabilities, and Net Worth required for all government officials and employees? How about newly appointed public officials? When is the deadline of filing SALNs? What should be disclosed in the SALN? Any penalties for non-compliance? Pursuant to Section 8 of Republic Act (RA) No. 6713, public officials … Read more
Good governance is more likely to lead to an increase in tax collections. While tax administration is crucial in improving tax collections, equally important in addressing tax evasion and smuggling is eradicating graft and corruption in government. The Philippines’ next president must have the moral ascendancy, track record of public service, and a clean tax … Read more
The Philippine Tax Whiz annual explains the Bureau of Internal Revenue’s guidelines for filing the income tax return for 2021, which is due on April 18, 2022 Is there a new deadline for filing the annual income tax return (ITR)? Would there be a penalty if I amend the filed return and it results in … Read more
The Philippine Tax Whiz informs taxpayers about the deadline for filing income tax returns in April 2022, as well as where they can file and pay Will the April 15, 2022 deadline for filing annual income tax returns (ITRs) be extended since it’s a regular holiday? Yes. Since April 15, 2022 falls on a regular … Read more
On December 2, 2021, presidential candidate Ferdinand Marcos Jr. and his family received a written demand from the Bureau of Internal Revenue (BIR) to settle their estate tax liability amounting to a staggering P203 billion. How did the estate tax of the Marcos family balloon to such a huge amount? The basic estate tax due, … Read more
The Philippine Tax Whiz warns taxpayers of the consequences of non-filing and non-payment of tax returns The non-filing and the non-payment of tax returns are two of the most common violations committed by the taxpaying public. Whether the non-compliance is a mere omission or a deliberate attempt to commit fraud, our tax code provides penalties … Read more
The Philippine Tax Whiz discusses the various priority programs of the Bureau of Internal Revenue What are the different enforcement programs of the Bureau of Internal Revenue (BIR) for the taxable year 2022? Recently, the BIR issued Revenue Memorandum Circular (RMC) No. 10-2022 to publish its priority programs and projects for 2022. Among the enforcement … Read more