Why are so many countries all of a sudden turning to the yuan to buy their essential commodities?
Why is the world de-dollarizing so quickly?
Simple โ the Russian sanctions.
1/11
Whatโs the difference between Tax Avoidance and Tax Evasion?
One is legal and the other one is illegal.
Tax laws favor businesses, knowing how to use it to your advantage will result in tax savings.
#taxationph#taxlawph
4. I do have to mention the 3-year prescriptive period on tax audits for taxable year 2018. It will set to prescibe on 2021 and 2022.
Knowing this, will you still avail of said program? Will payment be an admission to the BIR that the bsns is evading taxes?
[END]
The BIRโs Voluntary Assessment Payment Program has been extended until June 2021. Over thousands have availed of this and hundreds of millions in taxes were collected.
Should your business consider availing of this?
#taxationph#tawlawph
3. Personally, I think this is a great idea. It creates a win-win situation both for the GOVT and BSNS. To prevent further spread of COVID-19 virus, field works are highly discouraged.
How to compute for the amount of taxes to be paid? The BIR provided formulas to follow.