R&C Business Solutions Inc

Per Revenue Regulations (RR) No. 11-2024, taxpayers may convert and use their remaining Official Receipts as Invoice and convert the Billing Statement/Statement of Account/Statement of Charges into Billing Invoice UNTIL THEY ARE FULLY CONSUMED.

Read more about RR No. 11-2024 here: https://bit.ly/BIR_RR11-2024

BIR ADVISORY!

System Maintenance

Tax deadlines for January 2024.

📰 | 𝐏𝐑𝐄𝐒𝐒 𝐑𝐄𝐋𝐄𝐀𝐒𝐄: Final chance to avail of SEC amnesty program extended to end of 2023

The Securities and Exchange Commission (SEC) is giving non-compliant and suspended or revoked corporations a last chance to avail of lower fines and penalties with the final extension of amnesty applications until the end of 2023.

The Commission on November 3 issued SEC Memorandum Circular No. 20, Series of 2023, which extends the deadline for corporations to file their amnesty application and settle the amnesty fees to December 31.

The amnesty program provides corporations, which have incurred penalties for the late and non-filing of their General Information Sheet (GIS), Annual Financial Statements (AFS), and official contact details, a reduction on penalties for non-compliance with their reportorial requirements, as provided under Republic Act No. 11232, or the Revised Corporation Code (RCC).

Read more at https://tinyurl.com/338v25w4

Tax Advisory from the Bureau of Internal Revenue (BIR):

Advising all Electronic Filing and Payment System (eFPS) taxpayers to file BIR Form No. 1701Q - Quarterly Income Tax Return (ITR) using the eFPS starting with the 2nd Quarter 2023 ITR since the Income Tax Rates of BIR Form No. 1701Q have already been updated in the system.

Source: BIR website

Good news para sa mga senior citizen at PWD na mahilig sa online shopping!

The Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular (RMC) No. 70-2023 circularizing the List of Withholding Agents Required to Deduct and Remit the 1% or 2% Creditable Withholding Tax (CWT) for the Purchase of Goods and Services under Revenue Regulations (RR) No. 31-2020.

👉 Taxpayers are advised to visit BIR website where the updated list is uploaded;
👉 The obligation to deduct and remit the 1% and 2% CWT shall commence (for new top withholding agents/TWAs) or cease (for those delisted TWAs) effective July 1, 2023;
👉 Any taxpayer not found in the published list of TWAs is not required to deduct and remit the 1% and 2% CWT.

Source: BIR website