Let's Talk Tax
Published every Tuesday in BusinessWorld, the "Let's Talk Tax" column seeks to advance thought leadership and advocacy on tax issues and provide relevant tax information to the public.
This weekly column features articles by partners and managers of P&A’s Tax Advisory & Compliance Division.
THE BUREAU of Internal Revenue’s (BIR) collection target for 2013 is approximately P1.254 trillion. To meet this target, it has identified various priority programs aimed at plugging tax loopholes and increasing its revenue collections. One o . . . Read More »»
AS WITH most other transactions, selling or other disposition of shares is a taxable event. A final tax or capital gains tax (CGT), depending on the amount of net gain realized during the taxable year, is imposed on the sale, barter, exchange or ot . . . Read More »»
APRIL 15 marks the end of another taxable year for many companies. This is the time when annual income tax returns are filed to report the company’s performance during the year. For the tax authority, however, this marks the beginning of anoth . . . Read More »»
EVER since the introduction of the 1997 Tax Code, domestic corporations classified as closely-held corporations have been exposed to the 10% improperly accumulated earnings tax (IAET) for failure to declare dividends, which are beyond the reasonable . . . Read More »»