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                  Early Bird Deadline        CGBP
                  

                  

                  

                  

presents

Tuesday, 15 JULY 2014 * EDSA SHANGRI-LA HOTEL, MANDALUYONG CITY * 9:00AM to 5:00PM
This one-day seminar will provide participants with the latest BIR regulations, memorandum circulars, and orders together with the relevant decisions of the Court of Tax Appeals and the Supreme Court involving national internal revenue taxes and local taxes covering the period of January 2013 up to June 2014.

Knowledge on how these will impact on your business transactions and the legal remedies available to taxpayers to reduce tax liabilities is essential in maximizing the benefits granted by law, ensuring compliance (monthly, quarterly, and annual), and minimizing and avoiding unnecessary tax exposures, assessments and penalties from the taxing authority.

For a better understanding of the national internal revenue code and local taxation, this lecture shall be conducted in ordinary language avoiding technicalities of the provisions of the law. Attend and gain lots of valuable insights, best practices tips and expert’s advice in this solutions-oriented approach to optimizing your tax savings -- the RIGHT way.
   ONE-TIME SEMINAR
   Limited Seats Only, Pre-Registration Required

   REGISTER NOW!
   Avail of Early Bird and
   Group DISCOUNTS


   Contact Person: Lara Magnait
   Manila lines (+632) 556-8968 or 69
   Manila Telefax (+632) 842-7148 or 59
   Cebu lines (+63 32) 512-3106 or 07
   Email: lara@cgbp.org
   Check: http://www.cgbp.org
Lecturer: Atty. Rizalina V. Lumbera - is well recognized in her field as a subject matter expert in taxation with over 25 years of experience as a tax practitioner and lecturer. As a tax practitioner, she specializes in remedial law to provide solutions to tax-related issues and challenges encountered by corporate and individual taxpayers. She facilitates tax strategy planning sessions to help clients find the best way to save on taxes whether they are opening a new business, expanding their operations or simply improving their bottom line with the right tax minimization strategies.

She is a professor of tax law in various Metro Manila law schools, a sought-after pre-bar reviewer in tax, and an MCLE lecturer. She graduated from the University of the Philippines, Diliman in 1985 (Bachelor of Arts) and from the San Beda College of Law in 1989.
    Who Should Attend:

      • Business Owners
      • Lawyers & CPAs
      • Treasurers & CFOs
      • Tax Practitioners
      • Tax Compliance Officers
      • Business Consultants

   _______________________________

   Seminar Investment is P8,980
   inclusive of Meals, Resource Kit, &
   Certificate of Attendance
Business World Online International Chamber of Commerce Tri-ISys Forbes College



MID-YEAR TAX UPDATES AND REMEDIES


Edsa Shangri-La Hotel, Mandaluyong City, Philippines
9:00am to 5:00pm, Tuesday, July 15, 2014


Program & Course Outline

I.            9:00 AM to 10:00 A.M.

COMPLIANCE/ DOCUMENTATION/ GUIDELINES

1.    Expanded coverage of taxpayers required to enroll and use EFPS (electronic filing and payment system) for tax remittances (Electronic Tax Remittance Advice (eTRA) and payment, to include national government agencies (NGA’s); (RR 1-2013)

2.    Use of eORB as replacement for manual preparation and submission of Official registry Books of taxpayers subject to excise taxes such as, manufacturers of cigars, cigarettes, cigarette paper, etc.; (RR 3-2013)

3.    Prescribing the Machine Identification Number (MIN) Sticker For the Use of Cash Register Machines (CRM), Point-of-Sale (POS) System Machines and/or Business/Sale Machines Generating Receipts/Invoices; All CRM, POS and Other Similar Business Machine Suppliers/ Distributors/ Retailers, All Business Establishments and All Internal Revenue Officers and Others Concerned; (RR 4-2013)

4.    Employees Withholding Statements and Returns including MWE’s: Prescribing additional forms/documents to be filed by withholding agents in compliance with their duty to report income of their employees under the law; (RR 11-2013)

5.    Requirements to keep intact accounting records and documents within 3 years from last entry made. If taxpayer being investigated by BIR within ten years from discovery of fraud, falsity of return, or omission to file return, more than 3 years; ( RR 17-2013)

6.    Preservation of accounting records and financial documents of election canditates (contributions and expenditures) and other requirements such as OR’s, registration of books, registration of political parties; (MC 15-2013)

7.    Returns/Forms 1701 and 1702 for self-employed individuals, with income from compensation and business; (MC 26-2013)

8.    Guidelines in the Filing, Receiving and Processing of Taxable Year 2012 Income Tax Returns (ITRs) 1701 and 1702,  and Prescribing the Additional Attachment of the Regular Allowable Itemized Deductions to BIR Form; (MC 27-2013)

9.    Tax Compliance Reminders under the May 13, 2013 Midterm Elections: Kinds of candidates to file income tax returns for campaign contributions and expenses: (MC 48-2013)

Guidelines in the case of a candidate registered as a self-employed individual

10. TENTATIVE RETURNS: (MC 50-2013)

11. Clarifying the Validity of Unused/Unissued Principal and Supplementary Receipts/ Invoices Printed Prior to January 18, 2013 and other matters; (MC 52-2013)

12. List of accredited printers of receipts; (MC 61-2013)

13. Documentary requirements for application for registration of self-employed individuals, estates, and trusts; for local employees; and corporations, associations, cooperatives; purely TIN Issuance; transfer of RDO registration; and cancellation of TIN registration; (MC 70-2013)

14. Requirements for Alpha List of suppliers for creditable and withholding tax purposes; (RR 1-2014)

15. Filing of New ITR Forms; Mandatory Itemized deductions; (RR 2-2014)

16. Guidelines in the Filing and Receiving of new BIR forms 1701 to 1702; (MC 20-2014)

17. Guidelines, procedures and requirements for requests for BIR rulings; (RMO 9-2014)

 

II.          MORNING BREAK: 10:00 A.M. to 10: 15 A.M.

 

III.        10:15 A.M. TO 12:00 Noon

TAXABILITY OF TRANSACTIONS/ PERSONS

 

1.    Tax Treatment of Sale of Jewelry, Gold and Other Metallic Minerals to a Nonresident Alien Individual Not Engaged in Trade or Business within the Philippines or to a Nonresident Foreign Corporation (RR 5-2013)

2.    Inclusion of Real Estate Service Practitioners (i. e. Real Estate consultant, Appraiser and Broker) as regards income payments to certain Brokers and Agents (RR 10-2013)

3.    Tiangges, etc.: New rules on the collection of business and income taxes including withholding tax on income payments by/ to “privilege stores” popularly known as “tiangge/s” and the obligations of organizers or exhibitors (RR 16-2013)

4.    Association dues in homeowner’s association (MC 9-2013)

5.    Employees of Embassies, diplomatic missions, international organizations: (MC 31-2013)

6.    Donations to Homeowner’s Association (MC NO. 53-2013):

Online Business Transactions of B2B, C2C, B2C: MC NO. 55-2013

7.    Service fees of Professionals; (RR 4-2014)

Policies and Guidelines for Self-Employed Professionals

8.    Marginal Income Earner (MIE) - individual whose business do not realize gross sales or receipts exceeding P100,000 in any 12 month period. MC 7-2014

9.    CGT on sale of shares of stocks held as capital asset: (RR 6-2013)

IV.         LUNCH: 12:00 noon to 1:00 P.M.

 

V.         1:00 P.M. to 3:00 P.M.

 

A.     DEDUCTIONS FROM GROSS INCOME:

 

1.    Concept of deductions; (NIRC provisions)

2.    Allowable deductions; (NIRC provisions)

3.    Requirement for deductions from gross income (RR 12-2013)

4.    Rules on deductibility of depreciation purchase  of motor vehicles and related expenses, and allowed input taxes therefor; (MC 2-2013)

B.     WITHOLDING TAXES

1.    Withholding taxes defined; (NIRC)

2.    Procedures for WT; (NIRC)

3.    Professional Fees of medical practitioners; rates, procedures, for doctors and hospitals; (RR 14-2013)

(a)  Professional fees paid to medical practitioners.

(b)  Duties and responsibilities of the hospitals, clinics, HMOs

(c)  Exception

 

C.     TAX EXEMPTION/ INCENTIVES

1.    Concept (NIRC; Supreme Court Rulings)

2.    Guidelines for exemption under Section 30, NIRC; ( NIRC, Supreme Court Rulings)

3.    Guidelines, policies and procedures, documentation on tax exemption and revalidation for all hospitals and non-stock non-profit organizations operating hospitals (MC 4-2013)

4.    New PEZA guidelines on tax incentives granted to tourism economic zones and locators; (MC 23-2014)

5.    Revoked tax exemption (MC 64-2013)

6.    Documentary Requirements and Guidelines for Applications for Tax Exemption and Revalidation; additional Documentary requirements for educational institutions (RMO 20-2013)

7.    Requirement for presentation of tax exemption certificate for withholding taxes, compensation income by income exempt entities  (MC 8-2014)

8.    Foster Parents: 

A.  Additional Exemption for Dependents.

B.  Incentives to Agencies:

a.    Exemption from Income Tax

b.    Qualification as a Donee Institution

C.  Incentives to Donors as Allowable Deductions

D. Exemption from Donor’s Tax. (MC 41-2013)

 

VI.         AFTERNOON BREAK: 3:00 P.M. to 3:15 P.M.

 

VII.       3:15 P.M. to 3:30 P.M.

A.     RECIPROCITY RULE:

Principle of Reciprocity as Basis for the Grant of Income Tax Exemptions to International Carriers and Rationalizing other Taxes; (RR 15-2013)

B.     VALUE ADDED TAX (VAT)

Recovery of Unutilized Creditable Input Taxes Attributable to VAT Zero-Rated Sales; (MC NO. 57-2013)

C.     ESTATE TAX

Clarification on the Proper Accomplishment and Filing of Estate Tax Returns; Responsibilities of the Heir/Executor/Administrator; Responsibilities of the RDO and Document Processing Division (DPD); (MC NO. 34-2013)

VIII.    3:30 P.M. to 5:00 P.M.

A.     ASSESSMENTS/PROCEDURES: RR 18-2013 MC 38-2013 & MC 39-2013

B.     ABATEMENT/COMPROMISE OF TAX

-         Concept of Abatement/ Compromise RR 7-2013 andRR 9-2013

C.     AUDIT GUIDELINES: RMO 4-2013

D.     SUBPOENA DUCES TECUM (SDT)

RMO 10-2013

RMO   8-2014

E.      OTHER MATTERS: APPLICATION OF BIR Rulings: 

1.    Nature of BIR Rulings; (NIRC, Supreme Court Cases)

2.    Rules on Application of BIR Rulings; (NIRC, Supreme Court Cases);

3.    Non-Retroactivity of Rulings MC 49-2013

IX.         Updates on all BIR RR, RMO, RMC, Decisions of Court of Tax Appeals and SC up to June 2014 relevant to the private sector will be included in this lecture.

 

X.           Remedies

         Open Forum

         END OF LECTURE

 

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SEMINAR FEE PER PERSON: P8,980 (Fee covers Meals, Resource Kit, Certificate of Attendance)

GET AS MUCH AS 15% DISCOUNT! AVAIL OF ANY OR ALL OF THE FOLLOWING:

Less 5% for early registrants (on registrations made on or before June 15, 2014)
Less 5% for early payment (if made on or before July 5, 2014)
Less 5% for group registration (minimum of 3 participants)

REGISTER NOW to avail of Early Bird and Group DISCOUNTS
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Share |
Download: Flyer - Black&White (.PDF 366kb)
                         Course Outline (.PDF 349kb)