Requests for Reconsideration of Denied Claims of VAT Refund no longer cover review of factual issues
Let's Talk Tax Requests for Reconsideration of Denied Claims of VAT Refund no longer cover review of factual issues
In any social or professional collaboration, there may arise instances wherein there is a misinterpretation of certain facts, and in such cases, reconvening and circling back can prove to be one of the most efficient solutions.
7 min read |
Seizing Second Chances: A Taxpayer’s Right to Correct Invoicing Errors
Let's Talk Tax Seizing Second Chances: A Taxpayer’s Right to Correct Invoicing Errors
Opportunities to correct past mistakes can be invaluable, whether in personal or business matters. In taxation, this right is particularly crucial as errors in documentation can lead to significant financial consequences for businesses.
4 min read |
Estate Tax: A duty you can’t escape
Let's Talk Tax Estate Tax: A duty you can’t escape
It is true that certain things in this life are unavoidable, regardless of status. Benjamin Franklin once said that “In this world, nothing is certain except death and taxes.” That means, you still can’t escape paying taxes until you die.
6 min read |
Ghosting is a Taxpayer’s Regret
Let's Talk Tax Ghosting is a Taxpayer’s Regret
February is often associated with love and friendship, because it is during this month that people celebrate Valentine’s Day. However, to some who are in a dating relationship, it is now common to hear the term “ghosting”. In normal parlance, ghosting means the act of suddenly cutting off ties without explanation due to fear of confrontation. But for taxpayers, ghosting the BIR is a taxpayer’s regret, especially in tax audits.
5 min read |
Better Perks for Happier Employees: Non-Taxability of Employee De Minimis Benefits
Let's Talk Tax Better Perks for Happier Employees: Non-Taxability of Employee De Minimis Benefits
Capping off the first month of 2025, the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 004-2025 (RR No. 4-25), amending certain De Minimis benefits. It increased the uniform and clothing allowance to Php 7,000, which was formerly Php 6,000 under RR No. 11-2018 (RR No. 11-18); and included cash and gift certificates as a form of employee achievement awards.
7 min read |
The Reformation of Real Property Valuation: Insights on the RPVARA and its implementing Rules and Regulations
Let's Talk Tax The Reformation of Real Property Valuation: Insights on the RPVARA and its implementing Rules and Regulations
On 10 December 2024, the Department of Finance approved and issued the Implementing Rules and Regulations (IRR) of Republic Act No. 12001, otherwise known as the Real Property Valuation and Assessment Reform Act (RPVARA).
9 min read |