Estoquia CPA Tax and Accounting Services

We're thrilled to announce an important update📌

PJ Estoquia, CPA Finance and Accounting Services is now Estoquia CPA Tax and Accounting Services!
🔎 Find us under the new name EC-TAccS, pronounced as "Easy Tax".

Rest assured, our commitment to providing outstanding tax and accounting solutions remains unchanged.

Keep an eye out for more updates from EC-TAccS!

Wrapping up a successful tax season with the team. Thank you everyone!

The Bureau of Internal Revenue (BIR) has just released Revenue Memorandum Circular (RMC) No. 120-2023, notifying the accessibility, utilization, and approval of the Digital TIN ID.

Rather than physically going to different Revenue District Offices (RDOs) and waiting in line, taxpayers are encouraged to obtain the Digital TIN ID through the online channel.

Source: BIR website

Whether you're starting a business or seeking guidance, we've got you covered. Our comprehensive services include:

📝 Business Registration: Let us handle the complexities of registering your business with DTI, SEC, BIR, and other government agencies. Streamline the process and ensure compliance with ease.

📊 Employee Benefits Management: Simplify the management of SSS, Philhealth, and HDMF for your workforce. We'll navigate the intricate regulations, ensuring your employees receive their entitled benefits seamlessly.

💼 BIR Tax Preparation: Stay ahead of your tax obligations with our meticulous BIR tax preparation services. Trust our expertise to optimize your tax filings and maximize your deductions.

💡 Consultancy: Need expert financial advice? We are here to guide you through challenges and help you make strategic financial decisions for your business's growth.

May 2023 CPA Board Exam Results, CPALE List of Passers CPALE RESULTS - The May 2023 Certified Public Accountant (CPA) Board Exam results, including the complete list of passers, top 10 (topnotchers), and

Few biblical passages terrify accomplished people more than Jesus’ encounter with the rich young ruler on a quest for eternal life. When Jesus tells him to give everything to the poor, the rich man goes away sad. And we wonder if He demands the same thing from us. Try as we might, no one can forget Jesus’ mother of all metaphors: “It is easier for a camel to go through the eye of a needle than for a rich man to enter the kingdom of heaven.”

By every account, Jesus’ disciples were “greatly astonished” (Matt. 19:25) and “amazed” (Mark 10:24) at His words. Who could be more deserving of eternal life than this wealthy, ruling, commandment-obeying young man? He was the Israelite version of todays successful individuals. They asked each other, “Who then can be saved?” (Mark 10:26).

Don’t wrongly conclude that this encounter is about the money, and go away thinking that rich people can’t make it, but poor people can. Jesus never says this. He clearly answers His disciples, “With man this is impossible, but not with God; all things are possible with God.”

In fact, the rich young man was looking for the wrong “good” thing from the outset, and Jesus wasn’t going to waste the opportunity to let him know that his search was misguided. We miss this, too, because we’re looking for the same wrong thing. Eternal life.

We want to get to heaven. Great destination, especially when we’ve considered the alternative.

But if we’re seeking heaven because our life here is so good that we don’t want it to end, or simply because we don’t want to go to hell, we’ve missed the point. We’ve made the same mistake this young man made.

So doing what Jesus always did, he redirected the young man to the right thing. He redirected the young man to God. Jesus clarifies that no one is good but God Himself.

Why? Because the young man, in his quest for eternal life, assumed that eternal life in and of itself was the good thing.

And he was wrong.

Whereas Jesus knows the truth. Anything other than God is the wrong “good” thing.

What makes eternal life good isn’t the length. It’s the company. God Himself is what is good about heaven. The gold streets, the many rooms, and the no departure date are all blessings, but they aren’t the highlight. He is.
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“And the disciples were amazed at his words. But Jesus said to them again, "Children, how difficult it is to enter the kingdom of God! It is easier for a camel to go through the eye of a needle than for a rich person to enter the kingdom of God." And they were exceedingly astonished, and said to him, "Then who can be saved?" Jesus looked at them and said, "With man it is impossible, but not with God. For all things are possible with God."”

Mark 10:24-27, ESV

PROTECT YOUR DIGITAL TRANSACTIONS!

Strong passwords protect your financial accounts and transactions. Make your passwords unique. Do not use passwords that can be easily decoded from your personal information (i.e., your name, birthdate, address, ID numbers, etc.).

✅ Combine capital and small letters with numbers and symbols. Use combinations that only you can remember.
✅ Do not reuse your passwords. Online banking passwords should be different from that of other accounts.

Contact your bank or e-money issuer immediately if your bank account, credit card, e-wallet, or personal information has been compromised. The Philippine National Police (PNP) or the National Bureau of Investigation (NBI) may also be contacted to investigate and prosecute scammers.

If your bank or financial institution is not able to address your complaint, you can send a message to the Bangko Sentral ng Pilipinas (BSP) using the BSP Online Buddy (BOB) through the following:

1. Click on the BOB icon on the BSP website (www.bsp.gov.ph)
2. Chat on BSP Facebook Messenger (https://www.m.me/BangkoSentralngPilipinas/)
3. For Globe subscribers, text 21582277 (charges apply)
For more information about the BSP Consumer Assistance Mechanism, visit: https://bit.ly/BSPCAM

Protect yourself from fraud and scams! Practice 👍🏼

NEW ISSUANCE ❗️

Revenue Memorandum Circular (RMC) No. 141-2022 - Informing eBIRForms users/filers on the revised contents of eBIRForms email notification or the Tax Return Receipt Confirmation.

Take note, our dear taxpayers! 🤗

Congratulations to the New CPAs! 🥂

RESULTS ARE OUT

1,722 out of 6,665 (25.84%) passed the October 2022 Licensure Examination for Certified Public Accountants.

Congratulations new CPAs!

Estate Tax Amnesty extended until June 14, 2023!

Revenue Regulations No. 17-2021 Amends certain provisions of RR No. 6-2019 to implement the extension of the Estate Tax Amnesty pursuant to RA No. 11569, which amended RA No. 11213 (Tax Amnesty Act). For full text, http://ow.ly/xzl730rQS69

👋💡 Reminder! As per Revenue Regulations (RR) No. 6-2022, the BIR has removed the five-year validity period on all printed and system-generated receipts/invoices effective on July 16, 2022.

Read the RR's full text here: https://bit.ly/3yzTlny

The Securities and Exchange Commission (SEC) has announced that effective November 2, 2022, reportorial requirements submitted by corporations using eFAST shall be accepted and CONSIDERED as COMPLETE and ACCURATE. All inaccurate, incomplete, false or any misleading information, which can be found in the submitted reports, SHALL BE PENALIZED ACCORDINGLY by the Compliance Monitoring Division (CMD) and/or other Operating Departments monitoring the reports pursuant to Sec. 162 of the Revised Corporation Code.

No report/s shall be returned to the filers for correction. Amendments shall no longer be allowed unless directed by the Commission.

Source: SEC website

2022 DX Updates No. 15 | July to September 2022

To read the full text, click here: https://bit.ly/DX2022Q3

Hello, long weekend!

President Ferdinand “Bongbong” Marcos Jr. has declared October 31, 2022 as a special non-working holiday. Here's the story: snstr.co/hA7

Commissioner Lilia Catris Guillermo lifted the suspension on the conduct of enforcement activities and operations covered by outstanding Mission Orders (MOs) as well as removed the prohibition on the issuance of new MOs authorizing such activities/operations with the issuance of Revenue Memorandum Circular (RMC) No. 127-2022 on September 7, 2022.

Read the full article here:https://www.bir.gov.ph/images/bir_files/PR27SEPT1222.pdf

The Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Order (RMO) No. 43-2022 prescribing the policies, guidelines, and procedures in the issuance and use of “Notice to Issue Receipt/lnvoice” (NIRI) pursuant to Revenue Regulations (RR) No. 10-2019

The “Ask for Receipt Notice” previously issued to business taxpayers shall be valid until June 30, 2023, and shall be replaced through staggered issuance of NIRI to existing business taxpayers based on the ending digit of Taxpayer Identification Number (TIN), to wit:

⭐️ 1 and 2 - Beginning October 3, 2022
⭐️ 3 and 4 - Beginning November 2, 2022
⭐️ 5 and 6 - Beginning December 1, 2022
⭐️ 7 and 8 - Beginning January 2, 2023
⭐️ 9 and 0 - Beginning February 1, 2023

Source: BIR Website

The Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular (RMC) No. 131-2022 announcing the availability of Offline Electronic Bureau of Internal Revenue Forms (eBIRForms) Package Version 7.9.3

The changes from the previous version are as follows:

⭐️ Inclusion of additional ATCs in 0605 for use of international carriers;
⭐️ Revised the Terms of Service Agreement as found in Annex A of this circular;
⭐️Required official email address of the taxpayer to be provided on the eBIRForms profile page, which shall be used by the BIR as an additional mode of serving BIR orders, notices, letters, communications, and other processes.

Source: BIR Website

Estoquia CPA Tax and Accounting Services updated their phone number.

BIR Tax Deadline

25 Monday
• SUBMISSION of Quarterly Summary List of Sales/Purchases/Importations by a VAT Taxpayers - Non-eFPS Filers – For the Quarter ending September 30, 2021
• SUBMISSION of Sworn Statements of the Manufacturer’s or Importer's Volume of Sales of each particular brand of Alcohol Products, To***co Products and Sweetened Beverages Products – For the Quarter ending September 30, 2021
• e-FILING/FILING & e-PAYMENT/PAYMENT of BIR Form 2550Q (Quarterly Value-Added Tax Return) - eFPS & Non-eFPS Filers – For the Quarter ending September 30, 2021
• e-FILING/FILING & e-PAYMENT/PAYMENT of BIR Form 2551Q (Quarterly Percentage Tax Return) - eFPS & Non-eFPS Filers – For the Quarter ending September 30, 2021
• e-FILING & e-PAYMENT of BIR Form 2550M (Monthly Value-Added Tax Declaration) - eFPS Filers under Group A – Month of September 2021
• e-PAYMENT of BIR Form 2550M (Monthly Value-Added Tax Declaration) - eFPS Filers under Group E, D, C & B – Month of September 2021