DO-IT-YOURSELF (DIY) FILING OF TAXES: Principles of BIR Taxation (Updated with the TRAIN Law provisions)
ENDED
Workshop by
BGM LEARNING HUB
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On-Site
/ Workshop
PHP 3,185.00
Details
VISIT OUR WEBSITE (https://bgmlearninghub.weebly.com/store/p18/BIR_Tax_filing_TRAIN_Law_seminar) FOR THE PROGRAM DETAILS.
FOR INQUIRIES, CALL / TEXT US 0949 611 5904 (Smart) or 0905 315 3640 (Globe) or EMAIL US ([email protected]).
ALTERNATIVELY, DO MESSAGE US IN OUR FACEBOOK PAGE (https://www.facebook.com/BGM-Learning-Hub-1259682390841939)
This course discusses the general principles of BIR Taxation (Updated with the TRAIN Law provisions) including the regulatory compliance to the Bureau of Internal Revenue (BIR).
For the discussion of Income tax, the filing of FORM 1701 and FORM 1702 (Annual Income tax return) will be discussed including the required attachments such as the Summary Alphalist of Witholding Tax (SAWT) and FORM 2307 (Tax credit certificates). The new Graduated Income tax rates under the TRAIN Law and the 8% Income tax filing option will also be discussed. Moreover, the tax treatment of Net operating loss carry-over (NOLCO) and Excess Minimum Corporate Income Tax (MCIT) Carry-forward and the BOA Resolution 03-2016 (Certificate on the Compilation services) will also be tackled.
On the books of the payor, the income payments subject to Expanded withholding tax (EWT) such as commission payments, rental payments, purchases of goods and services by Top withholding agents (TWA), payments to professionals, and other payments will be taken up as well as the filing of FORM 0619 E and FORM 1601 EQ (EWT returns) including the required attachment which is the Quarterly Alphalist of Payees (QAP).
Moreover, withholding tax updates as stated in Revenue regulations 11-2018 and 14-2018 regarding compliance requirements by both the payee and the withholding agent will be tackled, as well as the tax compliance by medical professionals, hospitals, clinics, and HMOs.
For the discussion of Value-added tax (VAT) and 3% Other percentage tax (OPT), the filing of FORM 2550 M and FORM 2550 Q (VAT returns), and FORM 2551 Q (Percentage tax return) will be discussed including the required attachment which is the Quarterly Summary List of Sales and Purchases (also known as VAT RELIEF).
The principles of Value-added tax (VAT) as well as the transactions subject to VAT will be discussed. Moreover, zero percent (0%) VAT transactions and VAT-exempt transactions as enumerated in Section 106 and 109 of the Tax code , Revenue regulation 13-2018, and TRAIN Law (RA 10963) will be taken up.
Transactions which are qualified as Input VAT will also be tackled, as well as the tax updates on the VAT exemption on the lease of residential units and tax updates on the Withholding of VAT on government money payments as set forth in Revenue regulation 13-2018.
For the discussion of Withholding tax on compensation, the filing of FORM 1601 C (Monthly Withholding tax on compensation) and FORM 1604 CF (Annual Information return of Withholding tax on compensation) will be discussed including the required attachment which is the Alphalist of employees. The generation and filing procedures of FORM 2316 (Withholding tax certificate of the employees) as set forth in Revenue regulation 02-2015 will also be taken up.
With regard to the methods of filing, the EBIRFORMS Filing System and the Electronic Filing and Payment System (EFPS) will be discussed, including the covered taxpayers who are required to file tax returns using the above systems.
Finally, updates provided in the TRAIN Law (RA 10963) regarding the following topics are also taken up:
- CPA Certificate as an attachment to the Financial statements (FS) and eBIR Form 1701 (Annual ITR) of individual taxpayers whose Gross annual sales, earnings, receipts, or output is more than PHP 3 million
- BIR Registration requirements, Keeping of Books of accounts, and Issuance of receipts or sales or commercial invoices
- Some items in Estate tax, Donor's tax, Excise tax (Cigars and cigarettes, Manufactured oils and other fuels, Automobiles, Sweetened beverages, Mineral products, Non-essential services), and Documentary stamp tax
TO ENROLL, PLEASE VISIT OUR WEBSITE (https://bgmlearninghub.weebly.com), AND CLICK THE BIR TAXATION SEMINAR / WORKSHOP. THE ONLINE REGISTRATION IS FOUND BELOW THE PROGRAM DETAILS.
After the online registration, please confirm your slot/s by making a deposit of PHP 1,300 per participant on or before SEP 21 (Friday). The balance of PHP 1,885 will be paid in Cash on the seminar date.
Check payments are also accepted 2 working days before the seminar, to allow bank clearing.
Limited slots of 25 participants only, and reservation is on a First deposit, First reservation basis.
Please send a message to 0949 611 5904 (Smart) or 0905 315 3640 (Globe) or email [email protected] to request for the Bank details.
Please bring a calculator.
VENUE
Tropical Hut Hamburger (Congressional Avenue)
(near LRT Roosevelt Station and beside Mercury Drug Store)
TRAVEL DIRECTIONS
* Participants may ride LRT from Baclaran, and alight in LRT Roosevelt Station.
* Participants may also ride MRT from Taft Avenue, and alight in MRT Quezon Avenue Station. After riding the MRT, ride a bus with the signage "Monumento / MCU / UE / Malanday" and alight in LRT Roosevelt Station.
Outline
- Preparation of the Annual Income tax return (Annual ITR) of individual taxpayers and non-individual taxpayers, including the preparation of the Summary Alphalist of Withholding Tax (SAWT) using the Alphalist data entry system and validation (a BIR software)
- Filing procedures of FORM 2307 (Tax credit certificates) as set forth in Revenue regulation 02-2015
- New Graduated Income tax rates under the TRAIN Law and the introduction of 8% Income tax as a filing option for individual taxpayers earning business income, commission income, rental income, and income from the practice of profession
- Tax treatment of Net operating loss carry-over (NOLCO) and Excess Minimum Corporate Income Tax (MCIT) Carry-forward
- Income payments subject to Expanded withholding tax (EWT) such as commission payments, rental payments, purchases of goods and services by Top withholding agents (TWA), payments to professionals, and other payments
- Preparation of FORM 0619 E and FORM 1601 EQ (EWT returns), including the preparation of the Quarterly Alphalist of Payees (QAP) using the Alphalist data entry system and validation (a BIR software)
- 2018 Tax updates on the new tax rates (5% and 10%) of creditable withholding taxes of individual payees as stated in BIR Revenue regulation 11-2018 and 14-2018, and the application of existing tax rates (10% and 15%) for non-individual payees
- Withholding tax updates as stated in Revenue regulations 11-2018 and 14-2018 regarding compliance requirements by both the payee and the withholding agent, as well as the tax compliance by medical professionals, hospitals, clinics, and HMOs.
- 2018 Tax updates on the inclusion of Medium taxpayers and taxpayers listed in Taxpayer Account Management Program (TAMP) as Top withholding agents (BIR Revenue regulation 11-2018)
- Instances where depreciation expense is not allowed as an itemized deduction for taxation purposes (as stated in BIR Revenue regulation 12-2012, and BIR Revenue memorandum circular 02-2013)
- Certificate on the compilation services for the preparation of the Financial Statements and Notes to the Financial Statements (as stated in BOA Resolution 03-2016)
- Preparation of FORM 2550 M and FORM 2550 Q (VAT returns), and FORM 2551 Q (Percentage tax return), including the preparation of the Quarterly Summary List of Sales and Purchases (also known as VAT RELIEF) using the RELIEF data entry system and validation (a BIR software)
- VAT-exempt transactions and transactions subject to 0% and 12% VAT as stated in the TRAIN Law (RA 10963) and BIR Revenue regulation 13-2018
- Tax update on the amortization of Creditable Input VAT limited until 31 December 2021
- Tax updates on the VAT exemption on the lease of residential units and tax updates on the Withholding of VAT on government money payments as set forth in Revenue regulation 13-2018
- Senior citizen (SC) discount and Persons with disability (PWD) discount (as stated in BIR Revenue regulation 07-2010 and 05-2017)
- Three percentage (3%) Other percentage tax for non-VAT registered entities
- 2018 Tax updates on certain De minimis benefits (DMB) with new limit amounts as stated in BIR Revenue regulation 11-2018
- Preparation of FORM 1601 C (Monthly Withholding tax on compensation) and FORM 1604 CF (Annual Information return of Withholding tax on compensation), including the preparation of the Alphalist of Employees using the Alphalist data entry system and validation (a BIR software)
- New Philhealth contributions schedule and the existing SSS and Pag-IBIG contributions schedules
- Methods of filing such as the EBIRFORMS Filing System and the Electronic Filing and Payment System (EFPS), and list of covered taxpayers who are required to file tax returns using the above systems
- Submission of Inventory list (as stated in BIR Revenue memorandum circular 57-2015
- Submission of Books of accounts (as stated in BIR Revenue memorandum circular 37-2016
- Update on the CPA Certificate as an attachment to the Financial statements (FS) and eBIR Form 1701 (Annual ITR) of individual taxpayers whose Gross annual sales, earnings, receipts, or output is more than PHP 3 million
- Updates on BIR Registration requirements, Keeping of Books of accounts, and Issuance of receipts or sales or commercial invoices
- 2018 Tax updates on some items in Estate tax, Donor's tax, Excise tax (Cigars and cigarettes, Manufactured oils and other fuels, Automobiles, Sweetened beverages, Mineral products, Non-essential services), and Documentary stamp tax
Speaker/s
Mr. Benedick G. Manalaysay is a Certified Public Accountant who currently provides Accounting and Taxation seminars to employees, entrepreneurs, business owners, freelancers, and professionals. He is also engaged in
providing tax and accounting services to various clients in different industries. He has provided accounting workshops to business students starting their venture; NetSuite training to students enrolled in Basic Accounting course; and consulting services regarding
business registration services of Micro, Small, and Medium Enterprises (MSME), tax compliance, and payroll compliance. He has also been involved in improving the efficiencies of business areas or processes by giving recommendations. His past industry experiences
include performing internal audit for a college and doing audit engagements for mining and retail clients of SGV & Co. He has been been an instructor of Fundamentals of Accountancy at the De La Salle University (DLSU) and an instructor of Financial Accounting
and Management Accounting at Chiang Kai Shek College. He holds a bachelor’s degree in Accountancy with Dean’s List Honors Award from DLSU.
Special Offer
VISIT OUR WEBSITE (https://bgmlearninghub.weebly.com) FOR MORE DETAILS.
FOR INQUIRIES, CALL / TEXT US 0949 611 5904 (Smart) or 0905 315 3640 (Globe) or EMAIL US ([email protected]).
ALTERNATIVELY, DO MESSAGE US IN OUR FACEBOOK PAGE (https://www.facebook.com/BGM-Learning-Hub-1259682390841939)
TO ENROLL, PLEASE VISIT OUR WEBSITE (https://bgmlearninghub.weebly.com), AND CLICK THE BIR TAXATION SEMINAR / WORKSHOP. THE ONLINE REGISTRATION IS FOUND BELOW THE PROGRAM DETAILS.
After the online registration, please confirm your slot/s by making a deposit of PHP 1,300 per participant on or before SEP 21 (Friday). The balance of PHP 1,885 will be paid in Cash on the seminar date.
Check payments are also accepted 2 working days before the seminar, to allow bank clearing.
Limited slots of 25 participants only, and reservation is on a First deposit, First reservation basis.
Please send a message to 0949 611 5904 (Smart) or 0905 315 3640 (Globe) or email [email protected] to request for the Bank details.
Please bring a calculator.
FOR INQUIRIES, CALL / TEXT US 0949 611 5904 (Smart) or 0905 315 3640 (Globe) or EMAIL US ([email protected]).
ALTERNATIVELY, DO MESSAGE US IN OUR FACEBOOK PAGE (https://www.facebook.com/BGM-Learning-Hub-1259682390841939)
TO ENROLL, PLEASE VISIT OUR WEBSITE (https://bgmlearninghub.weebly.com), AND CLICK THE BIR TAXATION SEMINAR / WORKSHOP. THE ONLINE REGISTRATION IS FOUND BELOW THE PROGRAM DETAILS.
After the online registration, please confirm your slot/s by making a deposit of PHP 1,300 per participant on or before SEP 21 (Friday). The balance of PHP 1,885 will be paid in Cash on the seminar date.
Check payments are also accepted 2 working days before the seminar, to allow bank clearing.
Limited slots of 25 participants only, and reservation is on a First deposit, First reservation basis.
Please send a message to 0949 611 5904 (Smart) or 0905 315 3640 (Globe) or email [email protected] to request for the Bank details.
Please bring a calculator.
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BGM LEARNING HUB plays a role in providing training, learning and development solutions to interested individuals or entities. It is also a preferred training provider of courses such as Accounting and Finance, Taxation, and other disciplines.
A comprehensive range of courses is offered that caters to the skills upgrading and professional development needs of persons with diverse backgrounds, to keep themselves abreast with new things and innovations in our ever-changing business world.
This range of courses includes training on Accounting for non-finance individuals, Payroll management, BIR Regulatory compliance on various tax types such as the Income tax, Value-added tax, and Withholding tax, and more.
Workshops and seminars conducted by our entity are designed and presented by experts in their fields with substantial practical experiences under their belt.
Comprehensive course materials are provided to the participants, and our courses incorporate hands-on exercises and demonstrations with the objectives of enhancing the learners’ skills and understanding, and ensuring that the course contents can be readily applied in the workplace.
Our desire and mission is to help people achieve their most audacious life goals. We enable people from all walks of life, from various professions and backgrounds, to adopt new skills which meet their objectives. Embracing lifelong learning and continuous growth are the things that we and our learners yearn for. ...
A comprehensive range of courses is offered that caters to the skills upgrading and professional development needs of persons with diverse backgrounds, to keep themselves abreast with new things and innovations in our ever-changing business world.
This range of courses includes training on Accounting for non-finance individuals, Payroll management, BIR Regulatory compliance on various tax types such as the Income tax, Value-added tax, and Withholding tax, and more.
Workshops and seminars conducted by our entity are designed and presented by experts in their fields with substantial practical experiences under their belt.
Comprehensive course materials are provided to the participants, and our courses incorporate hands-on exercises and demonstrations with the objectives of enhancing the learners’ skills and understanding, and ensuring that the course contents can be readily applied in the workplace.
Our desire and mission is to help people achieve their most audacious life goals. We enable people from all walks of life, from various professions and backgrounds, to adopt new skills which meet their objectives. Embracing lifelong learning and continuous growth are the things that we and our learners yearn for. ...
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