News & Updates
Read more about the latest news and updates on the industry policies and upcoming deadlines to ensure up-to-date coverage.
2020 and 2021 Carry-over of Net Operating Losses Extended
Keeping in mind the general welfare of the people in response to the COVID-19 pandemic, the government has set forth quarantine measures in major areas of the country. Not only
November 2020 BIR Deadlines
Nov 10, 2020 Filing and payment BIR Forms 1601C, 0619-E and 0619-F (Non-eFPS Filers) Nov 11, 2020 e-Filing BIR Form 1601C, 0619-E and 0619-F (eFPS Group E) Nov 12, 2020
Improperly Accumulated Earnings
A corporation’s profits and losses are accumulated to the Company’s Retained earnings. The stockholders receive their profit share through dividends that are being declared at the discretion of the Company’s
Disallowance of Expenses with Taxes Not Withheld
As far as the Bureau of Internal Revenue (BIR) is concerned, business income commensurate income taxes. As much as possible, taxpayers would always want most, if not all, of their
Deductible Depreciation Expense
Property, plant and equipment (PPE) are tangible or physical assets acquired and owned by the company which will be used for more than one year and are not held for
Malicious Email Alert
The Bureau of Internal Revenue (BIR) warned all the taxpayers from malicious emails perpetrated by deceitful groups called “phishers” or “scammers” designed to look like emails from the BIR. These
