News and Blogs

24 Results

        

Apr 12, 2021

Filing Guidelines: Value-Added Tax Return

Both forms must be filed as long as the VAT registration has not yet been cancelled, even if there is no taxable transaction during the month or the aggregate sales/receipts for any 12-month period di...

        

Apr 12, 2021

Start Up: Philippine Business Process Outsourcing

Business Process Outsourcing (BPO) in the Philippines has grown for the past decade and now is one of the largest sources of private employment opportunities. With the continuous tax reforms, investme...

        

Apr 12, 2021

RR No. 26-2020: Bayanihan to Recover as One Act (Donations in Public Schools)

Revenue Regulations No. 26-2020, issued last last October 6, 2020, implements Section 4 (zzz) of RA No. 11494 (Bayanihan to Recover as One Act) which covers all donations of personal computers, laptop...

        

Apr 6, 2021

RR No. 21-2020: Implementation of the VAPP

Issued on September 4, 2020, Revenue Regulations No. 21-2020 prescribes the policies, procedures and guidelines in the implementation of the Voluntary Assessment and Payment Program (VAPP) for the col...

        

Apr 6, 2021

Filing Guidelines: Percentage Tax

Percentage tax is a business tax imposed on persons, entities, or transactions specified under Sections 116 to 127 of the National Internal Revenue Code of 1997 (also known as Tax Code), as amended, a...

        

Apr 6, 2021

CREATE: Reduction of Percentage Tax to 1%

Percentage tax is a business tax imposed on persons, entities, or transactions specified under Sections 116 to 127 of the Tax Code, as amended, and as required under special laws. Section 116 is hereb...

        

Apr 6, 2021

COVID: Additional VAT Exemptions

The Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law which was signed last March 26, 2021 offers temporarily additional VAT Exemptions to serve as a Coronavirus disease (COVID-19) re...

        

Apr 6, 2021

Deductions: Optional vs Itemized from Gross Income

A taxpayer engaged in business or in the practice of profession shall choose either the itemized or optional deduction.

        

Apr 6, 2021

TRAIN Exemptions and Exclusions from Gross Income

In the case of PLDT vs. City of Davao G.R. No. 143867, Exemption is an immunity or privilege. It is freedom from a charge or burden to which others are subjected. Consequently, the rule that tax exemp...

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