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By: Atty. Euney Marie Mata-Perez on April 13,2023 TAX assessments by tax examiners are presumed correct and made in good faith (Cagayan Robina Sugar Milling Co. v Court of Appeals, 342 SCRA 663, Oct. 12, 2000). It is the taxpayer and not the Bureau of Internal Revenue (BIR) who has...

By Atty. Mark Anthony P. Tamayo on March 30,2023 UNDER the present transaction value (TV) system, the duty base in valuing imported goods for customs appraisement purposes is the total payment made (or to be made by) the buyer to (or for the benefit of) the seller. The system is...

 By Xela Leona Laqui on March 23,2023 THE Doctrine of Hierarchy of Courts (or the Principle of Judicial Hierarchy) provides that when here, courts have concurrent or shared jurisdiction over the subject matter of a case, a litigant is not free to file a complaint or petition in any court...

By  Gladys Jane Dela Cruz on March 9,2023 FOR income taxes to be due, there must be a realized income. Thus, it is critical to determine what is income and when it is realized for tax purposes. Income is the inflow of wealth. As early as 1922, the Supreme Court...

By Nica Marsha Gasapo on March 2,2023 A corporation is an artificial being created by law which is vested with a personality that is separate and distinct from its shareholders, directors, officers, and other connected or related corporations. By this attribute, a stockholder may not generally, be made to answer...

By Aziza Hannah Bacay February 23, 2023 As a general rule, importations in the Philippines are subject to duties and taxes. There are instances, however, where the law permits relief from the payment of duties and taxes subject to certain conditions. One of the exceptions involves the “temporary admission” of...

By Atty. Euney Marie Mata-Perez on February 16, 2023 POWER costs in the Philippines are very high, affecting foreign direct investments into the country. During an economic briefing for members of the Management Association of the Philippines last Feb. 8, 2023, Albay Rep. Jose Maria Clemente “Joey” Salceda said that...

By Euney Marie Mata-Perez on February 9,2023 REPRESENTING the Management Association of the Philippines as the incoming chairman of its tax committee, I attended a meeting of the Senate Committee on Ways and Means technical working group on the proposed “Ease of Paying Taxes Act” last Feb. 2, 2023. One...

By Euney Marie Mata-Perez on February 2,2023 THE original deadline to avail of the estate tax amnesty — June 15, 2021 — was extended for two years when Republic Act (RA) 11569 was signed into law on June 30, 2021, amending RA 11213, or the “Tax Amnesty Act of 2019.”...