GFC Accounting Services

Per Revenue Regulations (RR) No. 11-2024, taxpayers may convert and use their remaining Official Receipts as Invoice and convert the Billing Statement/Statement of Account/Statement of Charges into Billing Invoice UNTIL THEY ARE FULLY CONSUMED.

Read more about RR No. 11-2024 here: https://bit.ly/BIR_RR11-2024

2 DAYS LEFT!

Avoid the Rush!

With the deadline fast approaching, the BIR is reminding Corporate Taxpayers to file their 2024 1st Quarter Income Tax Return and pay the Tax Due thereon on or before May 30, 2024.

Revenue Memorandum Circular No. 55-2024

Extends the ninety-day period for the actual imposition of Withholding Tax on Gross Remittances made by electronic marketplace operators and digital financial services providers to sellers/merchants prescribed under RR No. 16-2023

Full text: https://tinyurl.com/4b6e8h8c

10 DAYS LEFT!

Avoid the Rush!

With the deadline fast approaching, the BIR is reminding taxpayers to file their 2023 Annual Income Tax Return and pay the Tax Due thereon on or before April 15, 2024.

Don't know how to file your 2023 AITR? Watch our webinars to learn how.

Webinar on AITR Filing & Payment - Employees Earning Purely Compensation Income & Mixed Income Earners: https://bit.ly/EmployeesandMixedIncomeEarners

Webinar on AITR Filing & Payment - Self-Employed Individuals & SoleProprietors: https://bit.ly/SelfEmployedIndividualsandSoleProprietors

Webinar on AITR Filing & Payment - Corporations and Partnerships: To be live streamed on April 11, 2024.

TAX UPDATE!

Revenue Memorandum Circular No. 29-2024
Extension of the Deadline for the Submission of the Certificate of Compensation Payment/Tax Withheld (BIR Form No. 2316) and Clarifications in Relation Thereof.

Access all Revenue Memorandum Circulars here:
https://www.bir.gov.ph/.../2024-revenue-memorandum...

GFC Accounting Services is now active! 📢📢📢

Deadlines alert ⚠️ 📢📢📢

BIR Tax Deadline

29 Saturday
e-FILING/FILING & e-PAYMENT/PAYMENT of BIR Form 1702Q (Quarterly Income Tax Return For Corporations, Partnerships and Other Non-Individual Taxpayers) and Summary Alphalist of Withholding Taxes (SAWT) – Fiscal Quarter ending February 28, 2023

"Deadlines which fall on Weekends, Holidays and Non-Working days shall automatically be moved to the next working day."

Submission, submission, submission! 😊

Advisory on the Submission of Attachments to 2022 AITR filed through eBIRForms due on May 2, 2023.

WAGE HIKE CALABARZON AND DAVAO

READ: Calabarzon, Davao regions set wage hikes

Minimum wage earners in CALABARZON and Davao Region are the latest to benefit from the series of pay hikes after the regional wage boards granted an increase in their respective minimum wages.

The Regional Tripartite Wages and Productivity Board (RTWPB) in CALABARZON unanimously approved Wage Order RBIVA-19, setting the new minimum wage in the non-agriculture sector to P470 in the extended metropolitan area and the cities of Antipolo and Dasmariñas; P429 in component cities and (first class) municipalities; and P390 in the emerging growth area (second and third class municipalities) and resource-based area (fourth, fifth, and sixth class municipalities).

The new minimum wage rates in the agriculture sector, meanwhile, are P429 in the extended metropolitan area, in the cities of Antipolo and Dasmariñas, and component cities and (first class) municipalities; P390 in the emerging growth area (second and third class municipalities); and P350 in the resource-based area (fourth, fifth, and sixth class municipalities).

Also, the new minimum wage in retail and service establishments employing not more than 10 workers is set at P350 or an increase of P47 from the previous P303.

In Davao Region, meanwhile, the RTWPB issued Wage Order No. RBXI-21 which grants a wage increase of P47 for workers in agriculture, non-agriculture (industrial/commercial and retail/service establishments employing more than 10 workers), and retail/service establishments employing not more than 10 workers.

The Board also issued RBXI-DW-02 setting the new monthly wage rate for domestic workers to P4,500 or a monthly wage increase of P1,500 and P2,500 for chartered cities and first-class municipalities and other municipalities, respectively.

Full article: https://www.dole.gov.ph/news/calabarzon-davao-regions-set-wage-hikes/

Shift to e-receipts starts in July — BIR Large-scale taxpayers, e-commerce and export firms need to start shifting to the digital issuance of invoices and receipts by July as mandated by the Tax Reform for Acceleration and Inclusion Law.

The year-end closing is near.
Sharing to you information about Create Law.
source: Department of Finance

Do you know anyone who has unpaid and delinquent SSS loan?

Apply for SSS Short-Term Member Loan Penalty Condonation Program (STMLPCP).

Please refer to the link below for details.
Referencehttps://www.sss.gov.ph/sss/DownloadContent?fileName=ci2021-014.pdf

GFC Accounting Services updated their phone number.

GFC Accounting Services updated their business hours.