September 2013 - Philippine Accounting Updates

Obligations of Hopitals, Clinics, HMOs to Withhold Taxes from Medical Practitioners

Posted on September 29, 2013 by Orlando Calundan | 1 Comment

Medicine is one of the professions where Bureau of Internal Revenue (BIR) look at when it comes to tax non-compliance. We are not saying that doctors and other medical practitioners are not paying the right taxes but, it was just…

2014 Schedule of Filing of Annual Financial Statements with December 31, 2013 Yearend

Posted on September 29, 2013 by Orlando Calundan | 0 Comments

The Securities and Exchange Commission (SEC) has posted in its website SEC Memorandum Circular No. 16, Series of 2013 dated September 13, 2013 setting forth the schedule of filing of the annual financial statements (AFS) of companies with fiscal year…

Wage Order No. NCR-18 Increasing Minimum Wage by P10 Effective October 4, 2013

Posted on September 24, 2013 by Orlando Calundan | 0 Comments

Finally, the Ten (10)-peso increase in minimum wage in Metro Manila (wage hike) has now issued with Wage Order No. NCR-18 which will take effect on October 4, 2013. The Regional Tripartite Wages and Productivity Board (RTWPB) of the National Wages and Productivity Commission has finally posted the…

Online Job Opportunities for Practicing/Employed Accountants

Posted on September 22, 2013 by Orlando Calundan | 4 Comments

Are you an employed accountant or a practicing accountant or unemployed accountant and you think you are earning less than what you need? Or you may be earning more than what you need, but less than what you want? Or just…

Schedule of October 2013 CPA Board Exam, Instructions & Tips

Posted on September 22, 2013 by Orlando Calundan | 0 Comments

October 2013 CPA Board Examination is fast approaching, who is not excited? Any friend, schoolmate, office mate, brother, sister, keen or simply someone you know taking this batch’s board examination? Or it may be you, yourself. We wish to extend…

Makati RTC declares invalid RMC 65-2012 subjecting condominium corporation to VAT and income tax

Posted on September 10, 2013 by Orlando Calundan | 0 Comments

A decision issued by the Makati Regional Trial Court (RTC) dated September 5, 2013 declaring Revenue Memorandum Circular (RMC) No. 65-2012, subjecting condominium corporation to VAT and income tax as invalid. This decision was issued by the RTC with Judge Encarnacion…

Ten (10)-peso increase in minimum wage in Metro Manila (wage hike)

Posted on September 6, 2013 by Orlando Calundan | 0 Comments

The Regional Tripartite Wage and Productivity Board of the National Capital Region (RTWPB-NCR) has approved a P10 increase in the minimum wage in Metro Manila. The Wage Order to implement this increase in minimum wage is yet to be issued…

RMC No. 57-2013: Recovery of unutilized creditable input taxes attributable to VAT zero-rated sales

Posted on September 5, 2013 by Orlando Calundan | 0 Comments

For some reasons, a taxpayer may have excess input VAT at the end of any taxable quarter. The question is, how are these excess input VAT be treated? Excess input VAT may arise from the following: VATable sales are less…

How websites support operations and business success?

Posted on September 5, 2013 by Orlando Calundan | 0 Comments

Your Online Presence The internet is one of the most powerful tool and a rich place to do business, nowadays. Having an online presence is considered an edge for most businesses for variety of reasons. Some businesses even found success…

Integrated Reporting: The future of corporate reporting

Posted on September 2, 2013 by Orlando Calundan | 0 Comments

Financial reports, sustainability reports, annual reports – these are some amongst the wide variety of corporate reports being published by an entity for the benefit of its stakeholders. Actually, talking about regulatory requirements and other voluntary filings, there are hundreds…

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Philippine Accounting Updates

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Month: September 2013