Latest Issuances for Effective Tax Compliance and Interpretation of Tax Laws

Do you have enough understanding and knowledge about latest compliance requirements and issuances of the BIR?

If you will notice, the Bureau of Internal Revenue (BIR) continuously issues new rules, regulations, orders and circulars requiring the taxpayers on the proper reportorial requirements and

submissions of reports and schedules for different kinds of taxes.

Wherein if not properly complied with, the BIR would impose the corresponding
penalties and sometimes deficiency taxes. Thus, constant update of the new issuances of the BIR and latest court decisions that apprise you with latest interpretation of the courts with the tax laws, rules and regulationsis necessary to avoid penalties and tax exposures.

For easy understanding, the latest issuances and court decisions are included and arranged in accordance with the topics in the Latest Issuances for Effective Tax Compliance and Interpretation of Tax Laws: New BIR Issuances and Latest Court Decisions Seminar on February 23, 2016 (9:00am - 4:00pm) at WSI Corporate Center, 1005 Metropolitan Avenue, Makati City, Philippines 1205.

Key topics would include: Registration of Taxpayers (RR 7-12), Books of Accounts, Invoices and Receipts (RR 18-12) (RMO 12-13), Cash Register Machine (CRM) (RR 11-04) (RR 10-15), Inventory List (RMC 57-15) (RMC 61-15), Tax Returns and Schedules, Expanded Withholding Tax, Withholding Tax on Wages, Effect and validity of issued Rulings (RMO 9-14), Effect and validity of issued Rulings (RMO 9-14), Doubtful Validity-Best Evidence Obtainable (RMC 34-14) and other relevant topics.

At the end of the seminar, participants are expected:

1.To know the latest rules on registration of business
2.To learn the latest basic bookkeeping requirements
3. To learn the latest rules on Invoices and Official Receipts
4. To know the latest rules on Cash Register Machines
5. To know the latest rules on Inventory List
6. To learn the prevailing rules on filing tax returns.
7. To know the latest issuances affecting Income Tax, VAT, Expanded Withholding Tax and Withholding Tax on Compensation

Who Should Participate?

Business Owners (Single Proprietor or Stockholders)
Business Managers and other employees in charge of the Payroll
Accountants (Whether employee or practitioner)
Others who want to know about Latest BIR Issuances and Tax Updates

Atty. Nelson Gargoles, CPA
Founder-Gargoles Law Office
Former Tax Senior Manager-Punongbayan and Araullo
Former BIR Examiner for almost 15 years

Regular Rate: Php 3,000.00 per person
Early Bird Rate: 10% Discount if payment received seven (7) days before the seminar date - Ending on January 19, 2016

Register as group. GET 1 FREE SLOT for every 5 participants registered.
The fee includes training handouts, certificate of attendance, snacks, and lunch.

Cancellations received three (3) days prior to the seminar will be entitled to a full refund. No refund will be given on notifications received after that time or in any no-show situation. In this case, handouts may be provided upon request. Gargoles Law Office reserves the right to cancel or reschedule a seminar due to insufficient enrollment. Registration fees will be refunded or credited towards a future program.

Please contact: Ms. Mary Jane (Jheng) Toledo
Telephone Number: (02) 4752790
Mobile Number: 0906 4232572/ 0928 2213584

Learning Session Outline
1. Registration of Taxpayers (RR 7-12)
o Who are required to register
o What are required to be registered
o When to register
o Where to register
2. Books of Accounts
o Who are required to keep books of accounts
o Kinds of Books of Accounts
o Registration of Books of Accounts (RMC 82-08)
o Preservation of Books of Accounts (RR 17-13) (RR 5-14)
3. Invoices and Receipts (RR 18-12) (RMO 12-13)
o Who are required to issue
o Rules in Printing Invoices and Receipts
o Principal Receipts/Invoices
o Supplementary Receipts/Invoices
o Validity of Invoices and Receipts
4. Cash Register Machine (CRM) (RR 11-04) (RR 10-15)
o Use of Non-thermal paper
o Information in CRM tape
5. Inventory List (RMC 57-15) (RMC 61-15)
o Coverage
o New Requirement
6. Tax Returns and Schedules
o Tax Returns
7. EFPS and eBIR Forms (RR 6-14) (RR 5-15) (RMC 19-15) TAMP Taxpayers (RMO 20-14)
o Income Tax
8. Tax Exemption Rulings (RMO 34-14) (RMC 60-14)
- A BIR Certificate of Tax Exemption is not required for a non-stock, non-profit educational institution to enjoy the income tax exemption- The Abba’s “Orchard School, Inc. vs. CIR (C.T.A. CASE NO. 8377. November 4, 2014)
-Marginal Income Earners (RR 11-00) (RMC 7-14)
-Destruction/verification of loss (RMO 6-12)
-Retirement and Benefits Plan (RMC 39-14)
-Inurements prohibition under Sec. 30 of NIRC (RMC 51-14)
-Stock Option Plans (RMC 79-14)
-Substantiation requirements for Donations (RMC 86-14)
9. Value Added Tax
- Raw Cane Sugar (RR 4-15)
- VAT on interest income derived from loans granted to its related parties- CTA EB Case No. 1070 dated December 4, 2014
10. Expanded Withholding Tax
11. Requirements for deductibility of certain expense (RR 12-
13) (RMC 63-13)
12. Summary Alphalist of Withholding Agents/Payors of Income Payments subjected to Creditable Withholding Tax at Source (SAWT) (RR 2-15)
13. Submission of Alphalist of Employees (RR 1-14) (RMC 5-14
14. Withholding Tax on Wages
-New De Minimis Benefits (RR 1-15)
-Increase of other benefits from P 30,000 to P 82,000 (RR
-Issuance of TIN Card (RMC 20-15)
-Documentary Requirements (RMC 70-13)
-Update of employment status (BIR Form 2305) (RMO 20-
15) (RMC 59-15)
-BIR Form 2316 (RR 2-15)
- The duty to withhold the tax on compensation upon accrual- ING Bank. N.V., engaged in banking operations in the Philippines as ING Bank N.V. Manila Branch vs. Commissioner of Internal Revenue G.R. No. 167679, July 22, 2015

15. Other Matters
o Effect and validity of issued Rulings (RMO 9-14)
o Doubtful Validity-Best Evidence Obtainable (RMC 34-14)
o Mere Finding of undeclared purchases is not sufficient as basis for deficiency income tax assessment--Commissioner of Internal Revenue vs. Agrinurture Inc. (CTA EB Case No. 1054 dated January 13, 2015)
o Royalty payments by a PEZA-registered enterprise that form part of its direct costs are deductible for purposes of computing the 5% gross income tax- Lear Automotive Services (Netherlands) B.V. –Philippine Branch vs. Commissioner of Internal Revenue, (CTA Case 8421 & 8651, May 21, 2015)

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WSI Corporate Center, 1005 Metropolitan Avenue, Makati City, Philippines 1205
adress is not specified
23 February , Tuesday 09:00