Author Topic: ABOUT BIR AND TAX DEPOSITS  (Read 691 times)

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ZuvelCompany

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ABOUT BIR AND TAX DEPOSITS
« on: February 10, 2014, 03:42:46 PM »
Nabasa nyo na ba or narinig nyo na ba ang bagong proposal sa bagong taxation ?

From here: Check it here.

Quote
A new agency regulation issued by the Philippine government’s largest revenue source violates the bank secrecy law, the tax code, and could prompt foreign investors to leave the country. In any case, it's not just foreign investors who may find this new development somewhat confusing, to say the least.

Valenzuela Representative Magtanggol Gunigundo issued this warning, citing a new regulation issued by the Bureau of Internal Revenue (BIR).

Revenue Regulation 2-2014 involves “objectionable provisions,” Guinigundo said, adding that certain sections in BIR tax forms require taxpayers to declare interest earned from bank deposits.

In older tax declaration forms, the entries are “optional, not mandatory,” said Gunigundo, who earlier proposed to give a lifetime tax exemption for boxing champion and fellow lawmaker Manny Pacquiao.

“The new regulation violates the tax code itself,” he said. “You are requiring the filer to declare what are you are not supposed to do directly.”

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ABOUT BIR AND TAX DEPOSITS
« on: February 10, 2014, 03:42:46 PM »

Mountain View

MotherTouch

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Re: ABOUT BIR AND TAX DEPOSITS
« Reply #1 on: May 30, 2014, 11:04:22 AM »
If this is the case mukha nga mag aaalisan ang mga investors.... medyo mahirap din kasi intindihin ang tax form e. napaka confusing. dapat gumawa sila ng video on how to fill this up for the sake of normal user.


PesoRepublic.com | Your smart guide to money matters and entrepreneurship.

Re: ABOUT BIR AND TAX DEPOSITS
« Reply #1 on: May 30, 2014, 11:04:22 AM »

 

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