News and Blogs

Filing Guidelines: Income Tax Returns for Corporation and Partnership

Non-Individuals required to file Income Tax Returns (ITRs) includes (1) Corporations including partnerships, no matter how created or organized, (2) Domestic corporations receiving income from sources within and outside the Philippines, (3) Foreign corporations receiving income from sources within the Philippines, and (4) Estates and trusts engaged in trade or business.

By: Pamela Ruth G. Calog, CPA

4 days ago

Filing Guidelines: 2307 Certificates

Certificates of Creditable Tax Withheld at Source, regularly referred to as 2307 Certificates, are to be accomplished and issued to recipients of income subject to expanded withholding tax paid by a Withholding Agent, also called as Payor.

By: Pamela Ruth G. Calog, CPA

5 days ago

Filing Guidelines: Income Tax Return for Individuals

By every resident citizen deriving compensation income from all sources, or resident alien and non-resident citizen with respect to compensation income from within the Philippines.

By: Pamela Ruth G. Calog, CPA

5 days ago

Filing Guidelines: Creditable Income Taxes Withheld (Expanded)

By every withholding agent / payor required to deduct and withhold taxes on income payments subject to Expanded/Creditable Withholding Taxes.

By: Pamela Ruth G. Calog, CPA

5 days ago

TRAIN Personal Income Tax Schedules

TRAIN aims to make the Philippine Tax System simpler, fairer, and more efficient to promote investments, create jobs and reduce poverty.

By: Pamela Ruth G. Calog, CPA

1 week ago

CREATE Amendments to Tax Free Exchange of Property

Section 40 (C) of the Tax Code starts with the general rule that upon the sale or exchange or property, the entire amount of the gain or loss, as the case may be, shall be recognized.

By: Pamela Ruth G. Calog, CPA

1 week ago

CREATE Tax Rates Imposed on Foreign Corporations

A Foreign Corporation is classified for taxation purposes as (1) resident, if it engages in trade or business within the Philippines, or (2) non-resident if it does not.

By: Pamela Ruth G. Calog, CPA

1 week ago

IEAT to be Repealed by CREATE

The Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act, previously named as CITIRA bill, was implored to be immediately passed to gradually lower corporate income tax and rationalize and improve fiscal incentives.

By: Pamela Ruth G. Calog, CPA

1 week ago

COVID: Minimum Corporate Income Tax

Minimum Corporate Income Tax (MCIT) on Domestic Corporations, according to tax laws, imposes two percent (2%) of the gross income as of the end of the taxable year, whether calendar or fiscal year.

By: Pamela Ruth G. Calog, CPA

1 week ago

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