SERVICES

TOPICS COVERED

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• 2020 Tax Filing

• 2021 Tax Filing

• CREATE Status Update

• CREATE Implementation

• Reduction in Corporate Income Tax under CREATE

• Interest Expense Arbitrage under CREATE

• CREATE Implementation Issues

• CREATE Disclosure in the AFS

• Donation to Combat COVID-19 under RA11469 (RR 06-2020)

• Donation to Combat COVID-19 under RA11469 (Bayanihan Act I)

• Net Operating Loss Carryover (NOLCO) under RA 11494 (Bayanihan Act II)

• Donations to Public Schools under RA 11494 (Bayanihan Act II)

• Additional Deductions for PEZA-registered Enterprises

• TIN  Verifier Application (RMC-13-2021)

• Use of Electronic Signature

• Tax Return Filing Guidelines (RMC 04-2021, 8 January 2021)

  • Mode of filing of tax returns (Manual or Electronic)​

  • Filing of Tax Returns:eFPs vs eBIRForms

  • Manner of Filing and Mode of Payment

  • Manual or over-the-counter payment

  • Check Payments

  • Electronic Payment of Taxes (eBIRForms users)

  • Unavailability of Electronic Filing/Payment Facility

  • Submission of Attachments to the Income Tax Returns (ITR)

  • eAFS (RMC82-20) as and alternative mode of submission of Attachments to ITR

  • Proof of Submission to eAFS

  • Statement of Management Responsibility (SMR)

• Transfer Pricing (TP) Compliance Requirements in the Philippines

  • Filing of BIR Form 1709

  • TP Documentation

• Mandatory Use of OST on Submission of AFS/GIS