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In December 2017, US lawmakers enacted the Tax Cuts and Jobs Act (TCJA), the country’s biggest overhaul of tax legislation for a generation – you’ll have to go back to 1986 for anything as far-reaching. The impact on corporate earnings and investment plans are appearing significant and further opportunities are unfolding. However, a year on from being passed in Congress, the legislation is still subject to considerable interpretation.

IN RESPONSE to the protection of rights and continuous development of the welfare of occupationally disabled workers, the Social Security System (SSS) issued SSS Circular 2018-023 to inform all employees’ compensation (EC) pensioners of their entitlement to additional benefits

WITH reference to the Tax Reform for Acceleration and Inclusion Act or Train Law, the Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Circular (RMC) No. 96-2018 on Nov. 29, 2018.

THE Bureau of Internal Revenue (BIR) issued Revenue Memorandum Order (RMO) 48-2018, dated Oct. 24, allowing the use of a tax verification notice (TVN) instead of a letter of authority (LA) to check tax refund claims the BIR considers simple cases that will not require an in-depth audit or investigation.

We are nearing the end of 2018; so many of our tax laws affected by the Tax Reform for Acceleration and Inclusion (TRAIN) Law have changed. The reforms, however, are not yet over. We are seeing steady developments in the proposed amendment to the Corporation Code of the Philippines. Both the Senate and the House of Representatives have passed on the third and final reading their own versions of bills amending the Corporation Code. As of the date of this publication, the bicameral conference committee session is to reconcile the House and Senate versions.

While some dynamic businesses are reaping the benefits from the introduction of enterprise management software applications, robotics, and advanced business intelligence tools, for others there is a significant risk of being left behind and even making costly strategic errors.

Last November 7, 2018, I talked on the Fourth Industrial Revolution (or Industry 4.0) and its impact on the accounting and assurance professions, as a guest speaker to the 13th Washington SyCip Lecture of the University of Sto. Tomas Alfredo M. Velayo College of Accountancy.

Asia Pacific (APAC) is a region in flux. In 2018, businesses must contend with numerous challenges, not limited to environmental risks and an ageing population. But with disruption comes great opportunity.