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P&A presents new publication...

P&A presents new publication to BIR Commissioner Sixto Esquivias IV

Executives from audit, tax and business advisory firm Punongbayan & Araullo (P&A) presented the firm’s latest publication – Philippines National Internal Revenue Code (NIRC) of 1997-Second edition – to BIR Commissioner Sixto S. Esquivias IV (3rd from right).

P&A decided to publish this second edition after Congress passed Republic Act 9504, which introduced the income tax exemption of minimum wage earners. The book incorporates the latest amendments to Revenue Regulations 2-98 (the withholding tax regulations), which resulted from the passing of RA 9504. It also includes RR 3-98 (the fringe benefits tax regulations) and RR 16-05 (the consolidated VAT regulations).