Yearend adjustments and updates

Yearend adjustments and updates (Withholding on compensation, corporate income tax and the OSD)

Date:     26 November 2008, Wednesday
Time:     8:00 am to 5:00 pm
Venue:   Ballroom of Renaissance Makati City Hotel
               Makati Ave. cor Esperanza St., Makati City

Coverage

1) Implementing the new income tax rules under RA 9504 (RR 10-08) – highlights, issues and experiences
    a) Exemption of minimum wage earners
    b) New levels of personal exemptions
    c) Resigning/retiring employees
    d) Compliance requirements
    e) Yearend adjustments/Annualization

2) Optional standard deduction (OSD)

    a) How OSD works
    b  Implementation scenarios
    c)  Planning opportunities

3) Yearend adjustments for corporate income tax
    a) Recognition of income
    b) Deductibility of expenses

UPDATES:

4) Policies and procedures regarding BIR registration
    a) Annual renewal - facilities and taxes required to be registered
    b) Transfer of registration and other changes in the business requiring BIR registration/notification

5) Applying for tax treaty relief – draft revised rules
    a) Why it is necessary to file an application for ruling
    b) General requirements
    c) Requirements for specific types of income
        Business profits
        Royalties
        Dividends
        Interest
        Capital Gains
        Personal services
        Shipping/Air transport
    d) Applications qualified for priority processing

6) Other updates
    a) Contesting assessments and claiming refunds
    b) Imposition of the VAT and other tax matters 

Resource Persons
    •   P&A Tax partners
    •   BIR resource persons

Participants
This  tax seminar  is recommended  for tax  compliance officers,  tax accountants, controllers, and  legal officers who  handle their  company’s  tax compliance requirements.

REGISTRATION:
Registration fee  is P9,000 plus 12% VAT.  This will cover the handouts, snacks and lunch.  You may deduct a 5% discount if payment is made on or before November 21, 2008.

PAYMENT:
□  Cash or Check  
Please issue check to Punongbayan & Araullo and deliver to our office at the 19^th Floor, Tower 1, The Enterprise Center, Ayala Ave. cor. Paseo de Roxas, Makati City

Co ntact Persons:

Marge Antonio   T + 63 2 886-5511 loc. 519    E  Margaret.Antonio@pna.ph

Senen Quizon    T +63 2 887-9451    E  Senen.Quizon@pna.ph

Lina Figueroa     T +63 2 887-9458    E  Lina.Figueroa@pna.ph