Planning ahead

Planning ahead (Managing your tax risks and exploring opportunities)

The BIR’s recent move of issuing various rules and orders containing unprecedented and unconventional methods of enforcing tax collection has prompted P&A to hold this untimely seminar. Among the more controversial and important issuances to be discussed include:

1. Post-audit review of closed and terminated cases
2. Issuance of warrants of distraint and levy of properties, and garnishment of bank accounts to enforce collection on assessments covered by FDDA and those with pending protest in Courts
3. Industry-focused assessments
4. Table audit
5. Tax amnesty circular
6. Issuance of Letter Notices
7. MCIT assessments

Date: January 17, 2008, Thursday

Time: 8:00 a.m. to 5:00 p.m.

Venue: Ballroom 2, Renaissance Makati City HotelDiscussions will also include issuances, rulings and court decisions on the following:

Coverage:  Discussions will also include issuances, rulings and court decisions on the following:

1. Taxpayer remedies - compromise and abatement, rules and clarifications in availing of the tax amnesty such as on the coverage, mechanics and manner of computing amnesty tax (including on estate and donor’s taxes), immunity privileges and other unresolved issues
2. Minimizing audit exposures
3. Applying for refund/TCC of creditable withholding taxes and input VAT
4. VAT - disposition of unutilized input VAT; non-withholding of VAT on payment to nonresidents; VAT on sale of service contracts and other business assets; incidental transactions; allocation of input VAT to VAT-exempt by-products
5. Income Tax – Quarterly filing and base of MCIT 
6. Industry Concerns - shared costs/services; freeport zone transactions; security services contracts; SBL transactions; operating vs. finance lease
7. Compliance requirements – eFPS enrollment; FS specifications; reconciling accounts; new rules on accreditation of donees
8. Compensation income – de minimis and other benefits; stock option plans; withholding on wages
9. Withholding taxes – lease of mining rights; events organizers; agricultural suppliers
10. Securing rulings – nonretroactivity of revocation of rulings
11. Local taxes – logistics offices and depots
12. Legislative measures

Participants:  This tax seminar is recommend to tax compliance officers, tax accountants, controllers and legal officers who handle their companies’ tax compliance requirements.

Resource Persons:  Resource persons for the seminar include the following:

1. BIR/DOF officials
2. P&A Tax Partners

Registration: Please accomplish and return to us the attached enrollment form.

The registration fee is:

• P9,000.00 plus 12% VAT – includes handouts, snacks and lunch
• 5% discount if paid by January 10, 2007

Contact Persons

• Marge Antonio: T: + 63 2 886-5511 loc. 519
• Senen Quizon: T: +63 2 887-9451
• Lina Figueroa: T: +63 2 887-9458;