The Proposed Tax Amnesty Act

07 Jan 2019

This Tax Alert is issued to inform all concerned of the salient provisions of the proposed “Tax Amnesty Act” as approved by the bicameral conference committee. The enrolled bill will be submitted to the President for his approval and signature. If the President does not take any action, the bill will become a law after 30 days.

Navigating the Changes to IFRS 18

03 Jan 2019

Every year the requirements of International Financial Reporting Standards (IFRS) change. New Standards, Interpretations and Amendments are published that will affect companies’ future financial reporting. This publication, Navigating the Changes to International Financial Reporting Standards, is designed to give Chief Financial Officers a high-level awareness of these recent changes to IFRS. It covers both new Standards and Interpretations that have been issued and amendments made to existing ones.

Navigating the Changes to IFRS 18

03 Jan 2019

Every year the requirements of International Financial Reporting Standards (IFRS) change. New Standards, Interpretations and Amendments are published that will affect companies’ future financial reporting. This publication, Navigating the Changes to International Financial Reporting Standards, is designed to give Chief Financial Officers a high-level awareness of these recent changes to IFRS. It covers both new Standards and Interpretations that have been issued and amendments made to existing ones.

Insights into IFRS 16

21 Dec 2018

This Accounting Alert is issued to provide key concepts about IFRS 16, Leases, in anticipation of its mandatory adoption beginning January 1, 2019.

Reversing the taxation of health card premiums and director’s fees under RMC 50-2018

29 Nov 2018

Pursuant to RMC 96-2018, premiums paid for group health insurance shall not be considered taxable compensation. Director’s fees, on the other hand, shall not be subject to business tax (VAT or percentage tax).