This may happen to you.
The management already told you, ‘Pack up. The company no longer needs your services. Get your final check now at our Cashier’s Office.”
Yes, ETM knows that you are too young to retire because you have a family to feed, a housing loan to repay and have kids studying in private schools. And, you are too old to get a new job that offers the same compensation package that you are receiving now.
Scenario planning plays a vital role in preventing a Yolanda-type disaster to happen. This is sometimes called ‘midlife crisis.’ According to NSO’s statistics, such crisis is a happy-home wrecker, a reason to take one’s life and a justification to be dependent on illegal drugs and other vices
What is a POST-EMPLOYMENT PROGRAM? A action plan. A fallback. A cushion. If the syndrome ‘TOO YOUNG TO RETIRE AND TOO OLD TO BE EMPLOYED’ happens, you would have a free flowing source of income that would sustain your daily needs, repay your loans and can still help you send your kids to schools.
Who are qualified to take it? Those who have a degree in Law, Arts, Commerce and Business Administration, preferably those who have no PRC-license, and the only source of livelihood anchored to his one and only employer is strongly encouraged to take it.
Current scenario! Alarming as it is. The market place today is flooded with lawyers and CPAs. Their numbers already exceeded the demand which is one of the reasons why you would be bumped off of your comfortable office seat by a newly passed one who may provided the management the same results as you are giving it but at the fraction of the compensation that you are receiving.
Because of the Bureau of Internal Revenue’s tightened rules, the knowhow of lawyers and CPAs as far as taxation is concerned is becoming irrelevant and immaterial. And, this area/field of expertise that is taxation is your key not only to increase your value in your company but also will give you an opportunity to harness your potential as an entrepreneur.
Before you can be trusted by others either as a competent Tax Accountant or a reliable Tax Consultant, you have to provide them with relevant evidence that would elicit a favorable action. It is good to remember that this evidence must not be too tasking and time-consuming to get.
A TAX AGENT LICENSE, for example, which is being granted by the Bureau of Internal Revenue (BIR) is best to be secured while you are yet to become a CPA or a lawyer or you are NOT a CPA or a lawyer for its requirements are too easy to comply with.
Unlike in the CPA field where you need to pass its Board Exams and be employed as an apprentice for the period of three (3) years before you would be allowed to practice it, in Tax Agent Practice, an eighteen (18) credit hours of special training, seminars or short term courses in National Internal Revenue Code (taxation) on top of the degree either in Arts, Commerce, Business Administration or Law is only what you need. Without it, the BIR would neither accept nor evaluate your Application for Tax Agent (BIR Form No. 1916).
What is a TAX AGENT? He is an individual who offers his important tax services for a fee to others. His jobs includes the preparation and certification of returns, statements and other papers, representation of a client before the BIR and drafting of reports, protests and the likes. His professional fee may range from 2,000-25,000 pesos per consultation or 150,000- more than a million pesos per tax case. If you wish to have an electronic copy of the BIR-rule governing the practice of Tax Agents and its application form, feel free to submit a request via KATAXPAYER FACEBOOK.
There is no age limit required in securing this prestigious Tax Agent License.
The two (2) initial courses that you must undergo are, viz;
A. Tax Accounting
COURSE DESCRIPTION
Many taxpayers confirmed that the use of GAAP (now known as PFRS) created more tax troubles, penalties and health deterioration. 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/OR 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 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 at the value added tax accounting, then would be followed by withholding tax accounting and would end up 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.
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Accounting
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Unit
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Value added tax
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3
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Withholding tax
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3
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Income tax
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3
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B. Tax Consulting
INTRODUCTION
The United States of America’s Armed Forces is literally employing the tactics known as ‘preemptive strike’. It is based on the principle that an enemy is planning a devastating attack against the lives, liberty and livelihoods of its citizens.
In taxation, particularly in the Philippines, eLA, LN and SDT have a very disastrous and damaging consequences on the lives, liberty and livelihood of its recipient-taxpayers (usually their effects are similar to what Typhoon Yolanda did in the Visayas).
To control and contain their aftermath, potential recipients and practicing consultants must know how to prepare/issue a preemptive strike. Thus, the first approach is to clearly and completely understand them.
COURSE DESCRIPTION
A. KNOWING eLA
- What does a BIR eLetter of Authority (eLA) mean?
- What is so frightening about it?
- How to overcome fear that it brings?
- What story it tells?
- What rights, privileges, obligations and benefits does it create?
- How to use it against BIR officials/to your advantage?
- How to properly manage/handle it?
- What rules govern it?
B. COMPREHENDING LN
- What is a Letter Notice (LN)?
- What beauty and benefits does it bring?
- How to use the rules that created it to protect you from high deficiency VAT/income tax assessment, Oplan Kandado, and tax evasion charge?
- What important actions are needed to avoid receiving it again?
C. UNDERSTANDING SDT
- What is a Subpoena Duces Tecum (SDT)?
- Who is/are allowed to approve/issue it?
- Who in particular is/are required to be SDTed?
- Should it be feared? Ignored?
- What are the best ways to overcome it?
- What are its scope and coverage?
- What are your rights and privileges under the SDT proceedings?
- How to use it to your advantages?
- How to properly handle it?
EXPECTED OUTCOMES
1. To be able to understand the legal and regulatory requirements that cover/govern the eLA/LN/SDT
2. To be able to examine and evaluate their disadvantages and advantages
3. To be able to harness and use their powers, disadvantages and advantages to your benefits
4. To be able to protect/promote the rights and privileges of a taxpayer
5. To be able to extinguish without the unnecessary hindrance and unwanted expenses the obligations that they created
6. To be able to read and comprehend their content and context
7. To be able to identify and determine the crimes that are being deliberately employed by BIR officials
8. To be able to develop a tax audit planning, technique or strategy that would deprive BIR officials to harass and oppress you
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Consulting
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Unit
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eLetter of Authority
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3
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Letter Notice
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3
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Subpoena Duces Tecum
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3
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CERTIFICATE OF SPECIAL TRAINING LEVEL 101 (Understanding Tax Accounting as well as eLetter of Authority, Letter Notice and Subpoena Duces Tecum) with 18 credit hours shall be issued to those who successfully completed the 2 courses.
For the training/investment/enrollment fee and the place, time and date of the above courses, feel free to call Manila Office
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437 4027
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921 6107
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440 4816
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330 2874
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439 3918
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425 9225
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0998 979 3922
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0922 801 0922
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VISIT/LIKE.. KATAXPAYER FACEBOOK
EMELINO T MAESTRO
FATHER OF TAX ACCOUNTING
TAX GURU
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