Accounting, Audit and Tax Matters

[arnz11277]

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This is a nice topic Rey. Keep it up. - Arnold of P&A

[cottoncandy]

yes mayang... he he

has anyone (PICPA members) received their Proxy Ballot and Election Proxy for the National Directors and Regional Sectoral Representatives Election (2008-2009)?. I received mine, however I didn't know anyone from the candidates.

hi. are you an active PICPA member? have you been paying your PICPA dues regularly? I heard PICPA offered amnesty for delinquents like me.Is it true? hehe. I have not paid my Picpa dues since 2003. I've never been to any PICPA conventions either.

[r3roble]

hi. are you an active PICPA member? have you been paying your PICPA dues regularly? I heard PICPA offered amnesty for delinquents like me.Is it true? hehe. I have not paid my Picpa dues since 2003. I've never been to any PICPA conventions either.

yes cottoncandy, i'm a picpa member coz i luckily availed the amnesty..
i forgot if the amnesty had already expired but if you want, you can call picpa at 255-0163/253-2871.

[r3roble]

This is a nice topic Rey. Keep it up. - Arnold of P&A

thank you Sir Arnold...
anyways, Istoryans, if Sir Arnold would be ok with this, you can engage P&A's services with regards to Audit and/or Tax matters.
i owe to them various informations regarding audit and tax.

[r3roble]

i've just received a very nice news (courtesy of P&A):

per Revenue Regulations No. 5-2008, BIR increased the tax exempt amount of rice and uniform
allowances (de minimis benefits).

rice allowance - from the current P1,000 per month to P1,500
uniform and clothing allowance - from the current P3,000 per year to P4,000.

this will take effect beginning May 10, 2008. if i'm not mistaken, regular de minimis benefits increased from P2,925.00 per month to P3,508.33. that's around P42,100.00 tax exempt income of every employee if allowed by employers.

[r3roble]

Now that Tax Amnesty is about to end, we will expect BIR's audit notices in our company's doorstep soon. If you don't have what it takes by the time BIR will audit your company you better attend this seminar:

"How to Survive Your BIR Audit"

Conducted by SGV & Co to be held @ City Sports Club on May 23, 2008. for more info kindly contact 231-7551 to 55.

[r3roble]

to all those who are directors of a corporation out there, you may want to check this out at www.bir.gov.ph :

Revenue Memorandum Circular No. 34-2008
clarifies the tax treatment of director’s fees for Income Tax and business tax purposes.

[r3roble]

to those who are interested with stocks exchange, you may want to check this out at www.bir.gov.ph:

REVENUE REGULATIONS NO. 6-2008

These regulations are hereby promulgated in order to harmonize and consolidate the
rules relative to the imposition of tax for the sale, barter, exchange or other disposition
of shares of stock of domestic corporation that are listed and traded through the Local
Stock Exchange, or disposition of shares through Initial Public Offering (IPO) or
disposition of shares not traded through the Local Stock Exchange.

[maiagabrielle]

A bill has already passed by the lower house to increase the personal exemption of Married individuals and Head of the family to P70,000.00 (from P32,000.00-married/P25,000.00-head of the family), and additional exemption of dependent children from P8,000.00 per child to P20,000.00 per child. Any comments on this?

unsa na update ani rey?

[cottoncandy]

yes cottoncandy, i'm a picpa member coz i luckily availed the amnesty..
i forgot if the amnesty had already expired but if you want, you can call picpa at 255-0163/253-2871.

gawd! i missed the amnesty. i have to pay 4,500 +++ to get a certificate of good standing. tsk. sayang!