A. Sapico Tax and Accounting Services

🗓️ It's a new year, and it's time to tackle those taxes once more.
⏰ Don't let the deadline slip away!

Use JuanTax to file and pay your taxes at https://juan.tax/

𝐃𝐢𝐬𝐜𝐥𝐚𝐢𝐦𝐞𝐫: All tax payments made through the JuanTax platform will be processed by BIR-accredited e-payment providers such as UnionBank, GCash, PayMaya, and others.

JuanTax has partnered with payment services that have been BIR-accredited for e-payment, allowing us to facilitate such payments.

Tax deadlines for January 2024.

INTEGRATION OF MC28 s. 2020 and MC1 S. 2021 COMPLIANCE OF NEWLY REGISTERED CORPORATIONS WITH THE eSPARC REGULAR AND OneSEC PORTALS AND THE AUTOMATIC ENROLLMENT TO THE eFAST PORTAL

Minding your business’ tax obligations is as important as your day-to-day operations. 📝💰📈

Here are the tax deadlines you should pay attention to this month of October! 👀⏰

Enjoy hassle-free tax filing when you do it online with JuanTax at https://juan.tax/

𝐃𝐢𝐬𝐜𝐥𝐚𝐢𝐦𝐞𝐫: All tax payments made through the JuanTax platform will be processed by BIR-accredited e-payment providers such as UnionBank, GCash, PayMaya, and others.

JuanTax has partnered with payment services that have been BIR-accredited for e-payment, allowing us to facilitate such payments.

Congratulations to the Top 10 new CPAs!

BABALA: HUWAG MAKIPAG-TRANSAKSYON SA MGA FIXERS

Sinusuportahan ng Bureau of Internal Revenue (BIR) ang Anti-Red Tape Authority (ARTA) sa kanilang kumpanya laban sa mga fixers.

Iligal ang pakikipag-transaksyon sa mga fixers ayon sa Republic Act (RA) No. 11032 o ang Ease of Doing Business and Efficient Government Service Delivery Act of 2018.

Papatawan ang mga fixers o mga nakikisabwat sa mga fixers ng pagkakakulong na hanggang anim (6) na taon o multa na hanggang Dalawang Daang Libong Piso (₱ 200,000.00), o pareho, ayon sa pasya ng korte.

I-report ang mga nakikibahagi sa fixing sa ARTA gamit ang alin man sa kanilang complaints channels:
• Website - arta.gov.ph
• Email - [email protected]
• Facebook/Messenger-Anti-Red Tape Authority
• Twitter/lnstagram -
• Walk-in complaint - 4th Floor, NFA Building, NFA Compound, Visayas
Avenue, Brgy. Vasra, Diliman, Quezon City, Philippines 1128

This free course from JuanTax Academy will teach you everything you need to know about the Letter of Authority (LOA). 🤓

Enroll today and learn about the following topics:

📌 PH Tax Audit Qualifiers (Who can be audited)
📌 Important Parts of the e-LA / LOA (How to serve them)
📌 Vital Tips During Audit (What to do as a taxpayer)

Sign up now & take this course at https://bit.ly/JTA-LOA-Course

na ang Tax Mapping o maaari rin tawaging Tax Compliance Verification Drive (TCVD) ay ang pagsusuri sa mga taxpayers na may kinalaman sa mga tinatawag na “administrative compliance” sa mga registration requirements na itinakda ng BIR.

Ang pagsasagawa ng Tax Mapping o TCVD ay hindi pag-audit sa mga books of accounts o pagcompute ng mga deficiency taxes kundi para makita kung ang isang taxpayer ay rehistrado at updated ang rehistro sa BIR.

May mga kaukulang penalties kapag may makitang pagkukulang o hindi pagsunod sa mga initakdang requirements for registration ng BIR.

Kailangan na may hawak na Mission Order ang mga magsasagawa ng tax mapping alinsunod sa provisions ng Revenue Memorandum Order 9-2006.

EXTENDED!

Per Revenue Memorandum Circular (RMC) No. 75-2023, the deadline for the replacement of "Ask for Receipt" Notice with the "Notice to Issue Receipt/Invoice (NIRI)" has been extended until September 30, 2023.

Read the full text of the RMC here: https://bit.ly/3NV7ORA

The Bureau of Internal Revenue issued Revenue Memorandum Circular (RMC) No. 75-2023 Extending the deadline for the Replacement of Ask for Receipt Notice (ARN) with Notice to Issue Receipt/Invoice (NIRI) under Revenue Memorandum Order (RMO) No. 43-2022

Tax update: The Bureau of Internal Revenue issued Revenue Memorandum Circular (RMC) No. 69-2023 to inform the public the Reversion of Rates of Percentage Tax, Minimum Corporate Income Tax, and Regular Corporate Income Tax on Proprietary Educational Institutions and Not for Profit Hospitals pursuant to Sections 6, 7, and 13 of Republic Act No. 11534, otherwise known as the "Corporate Recovery and Tax Incentives for Enterprises Act"

Starting July 1, 2023, persons subject to percentage tax under Section 116 of the National Internal Revenue Code, as amended, will revert to 3% of their gross quarterly sales or receipts.

As provided in the said Section 116 of the NIRC, “Any person whose sales or receipts are exempt under Section 109(CC) of this Code from the payment of value-added tax and who is not a VAT-registered person shall pay a tax equivalent to 3% of his gross quarterly sales or receipts. Provided, that cooperatives shall be exempt from the 3% gross receipts tax herein imposed: Provided, further, That effective July 1, 2020 until June 30, 2023, the rate shall be one percent (1%).”

The provision on the adoption of the 1% Percentage Tax rate from July 1, 2020 to June 30, 2023 has been promulgated in March 2021 under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law.

Non-VAT taxpayers are mandated to file the Percentage Tax return (BIR Form No. 2551Q) and pay the corresponding tax dues within twenty-five (25) days after the end of each taxable quarter.

Moreover, from July 1, 2023 onwards, the Minimum Corporate Income Tax (MCIT) will return to its previous rate of 2%, calculated based on the gross income at the end of the taxable year. The MCIT rate is applicable to domestic corporations or resident foreign corporations when the MCIT exceeds the regular corporate income tax of the company. The MCIT is imposed beginning the fourth taxable year immediately following the year in which said corporation begins its business operations.

In addition, non-stock/non-profit schools and hospitals will once again be subject to a preferential tax rate of 10% on their taxable income. However, as previously provided, if the gross income from “unrelated trade, business, or other activity” exceeds 50% of the total gross income generated by the educational institution or hospital from all sources, the tax applicable to domestic corporations will be levied on their entire taxable income.

Manual stamping of electronically filed AITRs shall be allowed.

BIR Update: Revenue Memorandum Circular (RMC) No. 52-2023 Optional filing and payment of monthly VAT Returns (BIR Form No. 2550M) for VAT-registered persons.

Tax update: The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 47-2023 Reiterating the Proper Time of Remittance of Withholding Taxes by National Government Agencies anf Instrumentalities, Local Government Units, and Government Owned and Controlled Corporations.

For those who failed to receive the Tax Return Receipt confirmation, the RDO may accept the attachments to the 2022 AITR provided that the filing of the AITR was verified/validated by the district office with the "Filing Inquiry" in the online eBIRforms.

File and pay your taxes on time!

The Bureau of Internal Revenue released Bank Bulletin 2023-04

Heads Up Taxpayers!!!

Please be guided accordingly!!!

BIR ADVISORY:

The BIR will establish an Electronic Filing (e-Filing)/Tax Assistance Center at the BIR National Training Center - Auditorium from March 20 to April 17, 2023 (except Sundays and Holidays/Holy Week) from 8:00AM to 5:00PM.

SEC Memorandum Circular No. 1-2023

Extension of Deadlines for the 2023 Filing of Annual Financial Statements

The Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular (RMC) No. 5-2023 providing transitory provisions for the implementation of quarterly filing of VAT returns starting January 1, 2023 pursuant to the provisions of Republic Act (RA) No. 10963, otherwise known as TRAIN Law.

VAT-registered taxpayers are no longer required to file Monthly Value-Added Tax Declaration Return (2550M) for transactions starting January 1, 2023.

Revenue Memorandum Circular no 3-2023 prescribes the policies and guidelines on the Online Registration of Books of Accounts.

Tax updates on the TRAIN Law and CREATE Law for the year 2023

Revenue Memorandum Circular No. 160-2022 announces the availability of the revised Alphalist Format in the BIR Form No. 1604-C (Annual Information Return of Income Taxes Withheld on Compensation) January 2018 ENCS.

via INQUIRER.net HEADS UP! ✋

Net taxable incomes for compensation income earners will be adjusted starting next Sunday, Jan. 1, 2023. Read here to learn more.