AM Sison, Jr & Partners Law Office

DOLE issued Labor Advisory No.06, Series of 2024 to guide employers in the computation of their employees' wages for the Labor Day on May 1, 2024.

📣On July 31, 2023, the Senate approved the proposed Taxpayer’s Bill of Rights on its third and final reading. The proposed legislation (Senate Bill No. 1806) provides for the taxpayer’s basic rights, including the right to timely and expeditious completion and finality of tax audits, the right against baseless assessments, the right to be given an opportunity for amicable settlement at any stage of the proceedings, the right to avail of installment payment, the right to relief from paying interests, surcharges and penalties, and the right to recover costs from judicial actions, among others.

The bill also creates the Office of the National Taxpayer Advocate (ONTA), which shall be an independent and autonomous office attached to the Department of Justice, to promote tax compliance and assist taxpayers.

Copy of the approved bill can be accessed at

legacy.senate.gov.ph

📣FYI: The BIR extended the deadline for the replacement of Ask for Receipt Notice. Businesses now have until September 30, 2023 to obtain and display the Notice to Issue Receipt/Invoice (NIRI).

Business taxpayers who failed to renew on or before the deadline shall be imposed a penalty of a fine not more than P1,000 pursuant to Section 275 of the Tax Code, as amended.

📣SEC further extends deadline for amnesty applications until September 30, 2023

In SEC Memorandum Circular No. 9, Series of 2023, the Securities and Exchange Commission resolved to extend the deadline for amnesty applications until September 30, 2023. Furthermore, applicants will just be required to accomplish a web-based Unified Amnesty Application Form, instead of the EOI and Amnesty Application forms. The requirement of undertaking for latest due AFS submission has also been removed.

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