By: Euney Marie J. Mata-Perez on January 10, 2019
It is now clear that the proposed Tax Amnesty Act (TAA) will be passed soon. The report of the Bicameral Conference Committee which harmonized the provisions of the tax amnesty bills (House Bill Nos. 4814 and 8554 and Senate Bill No. 2059 [SB 2059]) has gotten the nod of both the Senate and the House of Representatives. Thus, the bill is in the final stages of enrollment and signature.
The question to many taxpayers now is whether or not they should avail of the general tax amnesty (GTA). Prudence dictates that any decision to avail of the GTA should be based on a thorough and well-thought-out cost-benefit analysis. As a guide, we discuss these major costs and benefits of the GTA
By: Euney Marie J. Mata-Perez on January 3,2019.
Happy new year!
The year 2018 was an interesting year in the tax arena. Republic Act 10963 or the Tax Reform for Acceleration and Inclusion (Train) Law, amending the National Internal Revenue Code (Tax Code), became effective on January 1, 2018. We then saw the passage of several regulations implementing the law. However, we also expect several tax measures to be passed this year.
By: Mark Anthony P. Tamayo on December 27, 2018
The annual yuletide festival is certainly the most joyous time of the year. Not only do we celebrate the birth of our Lord but it is also the time to reconnect with friends, acquaintances and most specially, family and relatives. It is traditionally a season of gift giving, remembering dearly people close to our hearts
By: Euney Marie J. Mata-Perez on December 20, 2018
The Senate and the House of Representatives have ratified a bicameral conference committee report that harmonized provisions of tax amnesty bills (House Bills 4814 and 8554 and Senate Bill 2059 [SB 2059]) passed by both houses of Congress.
By Euney Marie J. Mata-Perez on December 13, 2018
Advent is the time for giving. Thus, it is a good time to be reminded of the taxes imposed on donations and the tax benefits of making them
By: Euney Marie J. Mata-Perez on December 6, 2018
Senate Bill 1979 (in relation to House Bill 4800) proposes to impose a royalty tax on both metallic and non-metallic mining operations conducted outside mineral reservations, whether large scale or small scale, at three percent of the market value of the gross output of minerals or mineral products extracted or produced for the first three years from the effectivity of the law, four percenton the fourth year and five percent on the fifth year. It also proposes to impose an additional government share which will be due when the basic government share (on all collected taxes, royalties, fees and related payments from mining contractors) is less than 50 percent of the net mining revenue.
With a team approach that combines the tax, corporate, litigation and labor proficiency of our partners and lawyers, we provide holistic, practicable and hands-on assistance from the boardroom to the courtroom.
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Euney Marie J. Mata-Perez
Mark Anthony P. Tamayo
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