Seminars Schedules

Changing Accounting Period – LT

Monday, 15 August 2011, 14:09 | Category : Updates
Tags : , , , ,

Large Taxpayers Service (LTS) is now included in the policies, guidelines and procedures on the application for change in accounting period under Section 46 of the NIRC of 1997, as amended. This is by virtue of Revenue Regulations No. 9-2011 (RR No. 9-11) amended Revenue Regulations No. 3-2011 (RR N0. 3-11). To initiate the change […]

Principles of Sound Tax System

Sunday, 14 August 2011, 13:59 | Category : National Taxes
Tags : , ,

The following are the basic principles of a sound tax system: • Fiscal adequacy means that government revenues from taxation must suffice to meet fiscal requirements. This implies that a good tax system of a State may not budget deficit. • Administrative feasibility means that tax laws, rules and regulations must be capable of being […]

Classifications of Taxes

To further understand the concept of taxes, the following classifications are commonly provided: According to subject matter (What is being taxed?): a. Property tax – imposed upon the property located in a particular community. Example is real property tax under the Local Government Code of the Philippines. b. Personal tax – imposed upon a person […]