Tuesday, March 25, 2014

Guidelines and Policies for the Monitoring of Service Fees of Professionals

The bureau just issued Revenue Regulations No. 4-2014 in connection with its campaign to promote transparency and to eradicate tax evasion among self-employed professionals which the bureau encouraged them to comply with the BIR's requirements on registration pursuant to section 236 of the National Internal Revenue Code (NIRC) of 1997 as amended and issuance of official receipts and invoices under Sections 113 and 237 of the same code.

Under RR No. 4-2014, the polices and guidelines for the monitoring of service fees of professionals is stated in Section 2 with details as follows:

1. Self-employed professionals shall register and pay the annual registration fee (ARF) with the RDO/LTO having jurisdiction over them. In addition to the requirements for annual registration all self-employed professionals shall submit an affidavit indicating the rates manner of billings and the factors they consider in determining their service fees upon registration and every year thereafter on or before January 31.

2. Self-employed professionals are obligated to register the books of accounts and official appointment books of their practice of profession/occupation/calling before using the same. The official appointment books shall contain only the names of the client and the date/time of the meeting. They are likewise obligated to register their sales invoices and official receipts (VAT or non-VAT) before using them in any transactions.

3. In cases when no professional fees are charged by the professional and paid by client, a BIR registered receipt, duly acknowledged by the latter shall be issued showing a discount of 100% as substantiation of the  "pro-bono' service.

Please refer ftp://ftp.bir.gov.ph/webadmin1/pdf/84365RR%204-2014.pdf of the full text of Revenue Regulations No. 4-2014.

Monday, March 17, 2014

The eBIRFORMS Offline Package v4.0 (w/ Annual Income Tax Returns v2013 ENCS) is Now Available for Downloading

This day, the BIR just announced that the eBIRFORMS Offline Package v4.0 (w/ Annual Income Tax Returns v2013 ENCS) is now available for downloading in the eBIRForms page for use in the preparation, encoding and filing of the BIR Form Nos. 1700, 1702-RT, 1702-EX, 1702-MX.

Job Aids are also included for  easy navigation and use of the application tool.  BIR Form No. 1701 and online submission of Annual Income Tax Returns to eFPS will be available soon.

BIR Interactive Forms may be accessed in the “BIR Forms” portion. BIR Form No. 1700 / BIR Form 1701 / BIR Form No. 1702

Hope that this blog would help you in preparing your Annual Income Tax Returns.

Here's the update for the eBIRForms Offline Package v.7.08  http://ftp.pregi.net/bir/ebirforms_package_v4.7.08_ITRv2013.zip

Saturday, March 15, 2014

The Acceptance of Out-Of-District Filing of Income Tax Returns of Certain Government Officials and Employees Shall No Longer be Allowed

The new Revenue Memorandum Circular No. 15-2014 issued by the bureau is a reminder on the acceptance of out-of district filing of Annual Income Tax Returns (BIR Form Nos. 1700 and 1701) of certain government officials and employees pursuant to the provisions of Revenue Memorandum Circular No. 29-2013. 

The filing of the Annual Income Tax Returns as well as the payment of taxes due thereon anywhere of the following government officials and employees shall no longer be allowed:

1. Members of the Armed Forces of the Philippines (AFP);
2. Members of the Philippine National Police (PNP); and 
3. Public School Teachers/Professors/Instructors

It is also stated that any concerned revenue personnel who is found to be violating this Circular shall be subjected to the appropriate sanctions prescribed under Section 7 of Revenue Regulations No. 13-2010 dated November 25, 2010.

Please refer ftp://ftp.bir.gov.ph/webadmin1/pdf/83702RMC%20No%2015-2014.pdf of the full text of the Revenue Memorandum Circular No. 15-2014.

Sunday, March 2, 2014

Selected SSS Branches Extend Saturday Services to Serve Members

The SSS President & CEO has issued the Circular Order No. 2014-003 to extend the Saturday services of the branches to serve members from 8:00 a.m. to 5:00 p.m. on Saturdays effective February 8, 2014 until June 28, 2014 as follows:

NCR - 1. Diliman Branch 2. Cubao Branch, 3. San Francisco de Monte Branch 4. Mandaluyong Branch, 5. Pasig Shaw Branch, 6. Binondo Branch, 7. Manila Branch, 8. Makati G. Puyat Branch, 9. Alabang Branch, 10. Makati Ayala Branch

LUZON - 1. Baguio Branch, 2. Dagupan Branch, 3. Bacoor Branch, 4. Binan Branch

VISAYAS & MINDANAO - 1. Cebu Branch, 2. Lapu-Lapu Branch, 3. Bacolod Branch, 4. Iloilo Branch, 5. Cagayan de Oro Branch, 6. Davao Branch, 7. Zamboanga Branch

Please refer http://www.sss.gov.ph/sss/uploaded_images/circular/Cir-2014-003.pdf of the full text of circular.