Rappler Articles

Mon Abrea, CPA, MBA, writes for various publications including Rappler where he has an online column, #AskTheTaxWhiz.

[Ask the Tax Whiz] How can I file for the quarterly VAT starting January 1, 2023?

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The Philippine Tax Whiz discusses the newly-implemented provision for the Quarterly Filing of VAT returns starting January 1, 2023 Has there been any change in filing the VAT returns for the year 2023?  Yes. Under TRAIN Law, starting from January 1, 2023, the filing and payment of quarterly VAT returns will have to be made …

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[Ask the Tax Whiz] How to compute income tax under the new income tax table for 2023?

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The Philippine Tax Whiz guides Filipino taxpayers in computing their taxable income. 1. I am an employee who receives only compensation income from my employer. What are the things that I need to consider in computing my taxes? Before computing your tax due as an individual, you need to determine if you are a minimum …

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[Ask The Tax Whiz] Can the BIR now issue new LOAs and MOs?

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The Philippine Tax Whiz discusses Revenue Memorandum Circular 148-2022 which lifted the suspension of Audit ordered in Revenue Memorandum Circular 77-2022 Can the BIR issue new Letters of Authority (LOAs) and Mission Orders (MOs)? Yes, while the issuance of LOAs and MOs were suspended by Revenue Memorandum Circular (RMC) No. 77-2022, this suspension was lifted …

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[Ask The Tax Whiz] What are the different types of BIR letters and what are their purpose? (Part 3)

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The Philippine Tax Whiz discusses the Final Decision on Disputed Assessment and the Warrant of Distraint and/or Levy. Read Part 1 and Part 2 Overview There are nine types of different letters that may be issued by the BIR: mission orders, benchmarking notices, letters of authority (LOA), subpoena duces tecum (SDT), Notice of Discrepancy (NOD), Preliminary Assessment Notice …

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[Ask the Tax Whiz] What are the different types of BIR letters and what are their purpose? (Part 2)

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The Philippine Tax Whiz discusses subpoena duces tecum, notice of discrepancy, preliminary assessment notices, final assessment notices, and formal letters of demand. Read Part 1. Overview There are nine types of different letters that may be issued by the BIR: mission orders, benchmarking notices, letters of authority (LOA), subpoena duces tecum (SDT), Notice of Discrepancy (NOD), …

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[Ask the Tax Whiz] What are the different types of BIR letters and what are their purpose? (Part 1)

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The Philippine Tax Whiz discusses mission orders, benchmarking notices, and LOAs There are nine types of different letters that may be issued by the BIR: mission orders, benchmarking notices, letters of authority (LOA), subpoena duces tecum (SDT), Notice of Discrepancy (NOD), Preliminary Assessment Notice (PAN), Final Assessment Notice (FAN) and Formal Letter of Demand (FLD), …

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[Ask the Tax Whiz] What are the guidelines for online registration with the Central Business Portal? (Part 2)

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The Philippine Tax Whiz discusses the guidelines for online registration of businesses through the CBP What are the guidelines for online registration of All Types of Corporation, Partnerships and Sole Proprietors? Under Revenue Memorandum Circular (RMC) No. 61-2022, in relation to RMC No. 15-2021, the Central Business Portal (CBP) will be expanded to cover services …

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[Ask the Tax Whiz] How will the Central Business Portal be implemented in the Philippines (Part 1)

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The Philippine Tax Whiz discusses the Central Business Portal What is the Central Business Portal? The Central Business Portal (CBP) is a single site for all business-related information and aims to promote effective government service delivery and transparency. It seeks to streamline the registration of businesses, renewal of permits and other activities through online transactions. …

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[Ask The Tax Whiz] What are Related Party Transactions? (Part 2)

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The Philippine Tax Whiz discusses the guidelines and procedures for the submission of BIR Form No.1709 and its attachments Read Part 1 What is the purpose for the submission of BIR Form No. 1709, Transfer Pricing Documentation (TPD) and other Supporting Documents? According to Revenue Regulations No. 34-2020, the purpose of requiring taxpayers to submit BIR Form …

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[Ask The Tax Whiz] What are Related Party Transactions? (Part 1)

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The Philippine Tax Whiz discusses what Related Party Transactions are and the disclosures related to it What are Related Party Transactions? A Related Party Transaction refers to the transfer of resources, services, or obligations between a reporting entity and a related party, regardless of whether a price is charged. In other words, it simply refers …

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