DOLE Advisory No. 28-20

The Department of Labor and Employment (DOLE) has recently issued Labor Advisory No. 28 regarding payment of 13th month pay of rank and file employees.  Guidelines are as follows: 13th month pay shall not be less than one-twelfth (1/12) of the total basic salary earned by an employee within a calendar year Entitled employees are those who… Continue reading DOLE Advisory No. 28-20

SEC MC No. 28 s.2020

In order to expedite the transmission and receipts of official communication, the Securities and Exchange Commission (SEC) has issued SEC MC No. 28-2020 to serve as a guide for the creation and/or designation of an official email account and cellphone number for transactions with the Commission. Some of the important provisions of the MC are as follows:… Continue reading SEC MC No. 28 s.2020

BIR Issues Revenue Regulation Extending Claiming of Net Operating Loss Carry-Over to Five (5) Years

With the implementation of the Bayanihan to Recover as One Act, taxpayers will enjoy various exemptions under the law, including relief for businesses incurring losses due to the Pandemic. One such relief, is the issuance of the Bureau of Internal Revenue (BIR) Revenue Regulations (RR) No. 25-2020 which prescribes the rules and regulations extending the period of… Continue reading BIR Issues Revenue Regulation Extending Claiming of Net Operating Loss Carry-Over to Five (5) Years

BIR Launches Program Cutting Audits to Address Issues Brought by the Pandemic

The Bureau of Internal Revenue recently released its latest Revenue Regulation-21-2020, which promotes the promulgation of the VAPP (Voluntary Assessment and Payment Program) for the taxable year of 2018. According to this circular, taxpayers may settle their unpaid tax deficiencies for 2018 without being subject to any investigation or meticulous audit of their personal and business… Continue reading BIR Launches Program Cutting Audits to Address Issues Brought by the Pandemic

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