DISALLOWING EXPENSES, ILLEGAL ACTS OF THE BIR, RR 12-2013

DISALLOWING EXPENSES
EMELINO T MAESTRO
10-4-2013

Another intriguing acts of the BIR this 2013 is to require you to pay the deficiency income tax due to non withholding of a tax even if you already paid the subject withholding tax upon the receipt of its assessment notice.

This BIR-action scrapped and reversed its 20-year old rule. 

For your information, the National Internal Revenue Code allows the late payment of taxes. Provided, that you shall pay its corresponding interest, surcharge and penalty. In other words, if you failed to withhold a tax, you can still pay it after a BIR examiner had discovered it. Meaning, the NIRC permits that upon payment of withholding tax, the concerned expenses shall be allowed again as a deduction from your gross sales, receipts or income.

Please join and be a member of RR 12-2013 GROUP so that together, we can file a special court case against this infringement of rights and privileges.

IMPORTANT EVENT....

YOU'RE INVITED@ SOFITEL LUXURY HOTEL /Oct 14-18, 2013
by Emelino T Maestro, Author and Resource Speaker

Managerial Accounting and Financial Accounting, according to many taxpayers who became the victims of BIR scalawags, are the sources of graft and corruption because they are incomprehensible and inadmissible as far as the BIR is concerned.

To stop the BIR's harassment, oppression and corruption, the law of the State is encouraging, if not commanding, the taxpaying public to use the TAX ACCOUNTING..

IMPORTANT NEWS...

Many taxpayers confirmed that the use of GAAP (now known as PFRS) created more tax troubles, penalties and problems to a taxpayer than TAX ACCOUNTING

Recently, The National Society of Accountants in the United States of America says, “The cost of preparing generally-accepted-accounting-principles-based financial statements is EXCESSIVE and in many cases UNNECESSARY. Translating tax return information into a financial statement format can be a COST EFFECTIVE strategy.” which means that YOU DON'T NEED TO USE AND BE MANIPULATED/FORCED TO USE THE GAAP/PFRS.

The Bureau of Internal Revenue's position between GAAP and TAX ACCOUNTING can be deciphered from "The recording and recognition of business transactions for financial accounting purposes, in a majority of situations, differ from the application of tax rules on the same transactions resulting to disparity of reports for financial accounting vis-a-vis tax accounting (RR 8-2007). In case of differences, the provisions of the Tax (accounting) Code shall prevail (RMC 22-2004). Therefore, it is the financial statements which is in conformity with the Tax (accounting) Code that should be attached in the filing of Income Tax Return (BIR Ruling No. M-111-2006)."

Tax Accounting has three (3) layers which would start with value added tax accounting, then would be followed by withholding tax accounting and would end with income tax accounting. All of them shall comprehensively tackle the three (3) important requirements of the Tax Code which the BIR expects you to be knowledgable of. They are document accounting, book-entry making and timely-and-correct report-filing.

SCHEDULE
Oct 14-18, 2013 - Retailers & Resellers
Nov 18-22, 2013 - Petroleum/Gasoline Stations
Dec 9-13, 2013 - PEZA-registered Corporations
Jan 27-31, 2014 - Online Businesses
Feb 10-14, 2014 - Real Estate Dealers & Agents
Mar 17-21, 2014 - Engineering & Construction
Apr 21-25, 2014 - Restaurants & Fast Food Chains
May 19-23, 2014 - Manpower & Recruitment
Jun 23-27, 2014 - Hospitals, Clinics & Laboratories
Jul 21-25, 2014 - Advertising & Entertainment Agencies
Aug 18-22, 2014 - Importers
Sep 22-28, 2014 - Brokers on Commission Basis
Oct 20-24, 2014 -Pawnshops & Money Changers
Nov 17-21, 2014 - Exporters
Dec 8-12, 2014 - Local Service Providers

WHO MUST ATTEND
1, Those who are currently employed so that he/she may increase his/her value in an organization thus his/her salary/wage
2, Those who are currently looking for an employer so that he/she may increase his/her marketability/chance to be hired and get his/her desired salary/wage
3, Those who may have an opportunity to receive an eLA so that he/she may have an opportunity to stop/avoid existing/potential BIR’s illegal acts/advances and harassment

VENUE
Sofitel Luxury Hotel, PICC Complex, Pasay City

INVESTMENT FEE
Regular rate -29,289 pesos
Early bird rate -14,289 pesos

WHERE TO GET TICKETS
SMTickets' Online and SM Cinema
For your convenience, please deposit your investment fee at Bank of the Philippine Island (any branch), Saving Account No. 9579-0638-47 under the name of EMELINO T MAESTRO then scan-email the BPI-validated deposit slip to KATAXPAYER@GMAIL.COM..

Call ETM Tax Agent Office, QC
921 6107
439 3918
0998 979 3922
0922 801 0922