Accounting, Audit and Tax Matters

[r3roble]

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Anyone who has relevant information regarding Accounting, Audit and Tax Matters, kindly post it here.
thanks...

[r3roble]

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?

[anthonx]

NOW is a good time to get married and have lots of children. hehehe.

[tinsi]

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?

It's about time. But for as long as something is still on its way to becoming a law, I don't pay much attention since , 80% doesn't really lead to anything. Or sometimes, if it gets passed it is a much watered down version of the original proposal. Take for example the PISO act which is was meant to be like the IRA in the US. THis was meant to encourage savings amongst filipinos but with the amount shielded down to just P 50 K annually and until now wala pay IRR ambot lang mo retire na lang ko wala lang tingali gihapon ni.

[tinsi]

Anyone who has relevant information regarding Accounting, Audit and Tax Matters, kindly post it here.
thanks...

For Accounting and Audit updates I go to http://www.aicpa.org and I look up the current online issue of the Journal of Accountancy

[maiagabrielle]

hoi rey ikaw ni no? =p

[r3roble]

hoi rey ikaw ni no? =p

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.

[r3roble]

correct me if i'm wrong. i remembered during the last sona of Pres. Aroyo that most likely she will give a non-wage benefits to us (employees) instead of a salary increase. hopefully if Pres. Aroyo will sign this bill the best time would be this coming May 1, so that it will be one of the highlights in celebrating Labor Day...

[r3roble]

for those individuals or coporate entities who want BIR audit immunity from year 2005 and below may avail of the Tax Amnesty. deadline will be on May 05, 2008. so for those who has problems with their returns filed from year 2005 and below, kindly avail this one. our government will only provide something like this once in a blue moon...

[r3roble]

Taxpayers (TP) whose taxable year ends on March 31, 2008, tomorrow (April 30, 200 is the deadline for submission of:

1. Annual inventory list
2. Duly registered soft copy of books of accounts and other accounting records/documents, and notarized affidavit attesting to the accuracy of the number of receipts used during the year by TP using duly approved computerized accounting system
3. Quarterly summary of list of sales and purchases by TP under LTS and EFPS.