POST EMPLOYMENT PROGRAM, Your survival kit if you will be forcefully separated from your work

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.

Accounting	Unit
Value added tax	3
Withholding tax	3
Income tax	3

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

1. What does a BIR eLetter of Authority (eLA) mean? 
2. What is so frightening about it?
3. How to overcome fear that it brings?
4. What story it tells?
5. What rights, privileges, obligations and benefits does it create?
6. How to use it against BIR officials/to your advantage?
7. How to properly manage/handle it? 
8. What rules govern it?

B. COMPREHENDING LN

1. What is a Letter Notice (LN)?
2. What beauty and benefits does it bring?
3. How to use the rules that created it to protect you from high deficiency VAT/income tax assessment, Oplan Kandado, and tax evasion charge?
4. What important actions are needed to avoid receiving it again?

C. UNDERSTANDING SDT

1. What is a Subpoena Duces Tecum (SDT)?
2. Who is/are allowed to approve/issue it? 
3. Who in particular is/are required to be SDTed?
4. Should it be feared? Ignored?
5. What are the best ways to overcome it?
6. What are its scope and coverage?
7. What are your rights and privileges under the SDT proceedings?
8. How to use it to your advantages? 
9. 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

Consulting	Unit
eLetter of Authority	3
Letter Notice	3
Subpoena Duces Tecum	3

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

437 4027	921 6107
440 4816	330 2874
439 3918	425 9225
0998 979 3922	0922 801 0922

VISIT/LIKE.. KATAXPAYER FACEBOOK

EMELINO T MAESTRO

FATHER OF TAX ACCOUNTING

TAX GURU

RR 18-2013... A pain in the taxpayer's neck (New Rules in Assessing a Tax)

New BIR Rules on Issuing and Protesting Assessments
by Emelino T Maestro, Father of Tax Accounting, Tax Guru
"Small and simple crime that is habitually performed nationwide is the biggest crime of all."

Here are the gists of RR 18-2013
1. Notice for Informal Conference (NIC) was removed. Thus, you shall no longer receive such Notice from the Revenue District Officer
2. After an eLetter of Authority is served, expect that a Preliminary Assessment Notice (PAN) shall be prepared and served.
3. The PAN shall state the fact and the laws from which the deficiency tax assessment is derived. Otherwise, the such assessment is to be considered 'Void'
4. A protest should be made within 15 days from receipt of the PAN otherwise a FLD/FAN shall be prepared and issued.
5. The protest may either be a request for reconsideration or reinvestigation which you must clearly stated in the body of the protest.
6. Although a protest against PAN is lodged on time, still FLD/FAN shall be prepared and issued which will give you a thirty day period to protest it (again?)..{ETM recommends that instead of filing a protest against PAN, a request for extension to file such protest must be prepared and submitted in order to buy time}
7. Failure to dispute all allegations in the said assessment, the amounts shown therein shall become final and collectible.
8. Failure to supply the facts and the laws from which the protest is derived, the amounts shown in such assessment shall become final and collectible
9. Failure to dispute some issues in the said assessment, the amounts pertaining to undisputed issues shall become final and collectible.
10. Failure to submit all relevant records in support of the protest shall make the amount due thereon to become final and collectible.
11. Commissioner shall not accept a request for reinvestigation but only request for reconsideration

On December 23, 2013 at La Salle Campus, RCBC Plaza, Makati City, a open forum on how to deal with this new rule shall be held... ALL ETM STUDENTS, CLIENTS AND FRIENDS ARE INVITED TO ATTEND. Registration and payment of P1,120.00 investment fee shall be on or before December 17, 2013. The room shall accommodate 64 pax. Bring your own snack, pencil and paper. Be informed, be punctual. Starts at 2pm and ends at 5pm

For details, please call
Dhen 0922 801 0922,
Sonia 439 3918,
Juliet 921 6107
Eric 0998 979 3922
Email Katax at kataxpayer@gmail.com

DISALLOWED DEPRECIATION & INPUT TAX, MAGNET TO FRINGE BENEFIT TAX

Disallowed Depreciation & Input Tax, FBT Magnet

Emelino T Maestro, Father of Tax Accounting, Tax Guru

According to the BIR Commissioner, if you would purchase a 2.4 million-peso vehicle which is not to be used for the delivery of goods but for the use of a certain personnel, even if you would charge portion of its wear and tear, knowingly called 'depreciation' to your taxable income, it shall not be allowed. This means that you shall have an income tax disadvantage of 720,000 pesos for the duration of the useful life of the said vehicle. Or, in other language, your income tax payments is more than 720,000 pesos than the usual. Furthermore, if you paid 12% VAT for the said vehicle which is more or less 288,000 pesos, this input VAT shall not be allowed as a deduction from your output tax which means that you would shell out an additional amount similar to the VAT attributable to the purchase of the said vehicle. Finally, if you would allow your employee to use the said vehicle for his/her personal use, you are deemed to pay fringe benefit tax.

If you want to know how to get around with these stringent rules, please buy any book of ETM and he would email to you the ways to get around with the same.. Only the buying that is done within November 16 - 30, 2013 (8a - 6p) shall be entitled to receive the answer/solution.

For details, please coordinate with Len

email … jocelyn@maestrotaxation.org

mobile … 0922 862 0922

phone … 02 439 3918

office … Unit 419, Corporate 101, Mother Ignacia, QC

Declaration of Loss Due to Yolanda

To all victims of Super Typhoon Yolanda
Our prayers are for your safety and immediate recovery
by Emelino T Maestro, et. al.

To help and assist taxpayers and businesspeople who were greatly affected by Yolanda, ETM and his group would help them comply with the BIR requirements of reporting the lost of their inventories, properties, records and books so that if they are under BIR investigation or would be investigated by BIR for the 2013 and prior years, they would have a proper and complete papers to show the devastating financial effects of Yolanda to their lives and livelihoods.

Our President, Divine Grace Fresco and our Action Man, Jose Filomar Bas, would gladly help and assist you in documenting your losses. Please be reminded that the BIR-rule requires those who are affected in anyway to file the said documents within 30 days from the date the disaster. Thus, you have until December 11, 2013 to comply with the mandate of the law of the State.

Our telephones are 02-9216107, 02-4393918, 0998-9793922 and 0922-8010922. Our assistance is free of charge.

We felt so sorry for the tragedy that our fellow Filipino and residents of the areas being damaged by Yolanda experienced. Again, we pray for your safety and immediate recovery.

Thanks for reading this and passing this message to those who are in need.

VAT AND INCOME TAX ON ASSOCIATION DUES, NOW DECLARED ILLEGAL.

CONDO OWNERS AND TENANTS
10-5-2013, EMELINO T MAESTRO

Last 2012, Honorable Kim Henares scrapped the exemption of condominium-association due from VAT and income tax. Thanks to her, condo-unit owners/tenants have to financially suffer because the Condominium Corporations shall pass on to them the said taxes.


This 2013, a Court declared her order ‘INVALID’. However, it is still being challenged so its implementation may be somehow delayed.

My suggestion to you is to secure the same Court’s ruling so that the excess money attributable to the payment of VAT and income tax by condo unit owners/tenants not only may be returned to them but also the ‘paying it directly to the BIR’ may be stopped/avoided.

Otherwise, you just give yourselves a time to attend my seminar so that you may learn and quickly apply the true and correct ways in doing the above suggestions.

**IMPORTANT ANNOUNCEMENT

The Courts and BIR's known language.... TAX ACCOUNTING
Attend the Workshop/Training/Seminar
#taxaccountingcampaign, #emelinotmaestro, Sep 8, 2013

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 2, 9, 16, 23 & 30, 2013 - Retailers & Resellers
Nov 5, 12, 19, 26 & 28, 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
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

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

FAMILY CORPORATIONS, UNDER INTRIGUING BIR SCRUTINY - RR 6-2013

FAMILY CORPORATIONS, UNDER BIR SCRUTINY

Emelino T Maestro, 10-3-2013

How to help your own corporations to avoid the scrutiny?

UnFair and UnAcceptable, RR 6-2013 is.

RR 6-2013 says that any disposition of shares of stock of a closed/family corporations shall either be based on the adjusted value of land and its improvements or fair value of the shares of stocks whichever is higher.

The term "disposition' means the sale, exchange, barter, donation and inheritance of shares of stocks of a family/closed corporation.

The term "land and its improvements' refers to the land and anything found thereon as they are shown in the latest Balance Sheet of the family/closed corporation.

Again, the 100-year old rule had been knowingly twisted and then changed without a valid consultation with the taxpaying public.

Comical as it is, the disposition of shares of stocks of corporations registered at the Philippine Stock Exchange is exempted or treated differently. Meaning, the sale, exchange, barter, donation and inheritance of the said shares of stocks shall be based on their fair market value or book value.

The term 'fair market value' means the amount of the said shares of stocks that is shown on the bulletin board of the Philippine Stock Exchange.

The term 'book value' means the amount of the outstanding capital stock of the concerned corporations plus their accumulated retained earnings divided by the outstanding number of shares.

The difference between the two types of disposition of shares of stocks is only the place where the shares of stocks is being sold... For family/closed corporations, their shares of stocks are being disposed of outside the jurisdiction of the Philippine Stock Exchange but for those public corporations' shares of stocks, they are being disposed of using the facilities of the Philippine Stock Exchange.

The BIR is giving a preferential treatment or in other words, exempting the public corporations from paying more taxes while it is imposing more taxes to family/closed corporations.

For your information, the holders and owners of prime lots and improvements thereon are not family/closed corporations but most of them are public corporations.

Treating the disposition of shares of stock differently is amending, revoking, repealing the existing laws of the State.

ETM suggests that this patently erroneous RR 6-2013 shall be brought to the attention of the Regional Trial Court so that it could be scrapped.

For your tax problems, please 

call 921 6107 and 439 3918

text 0998 979 3922 / 0922 801 0922

email kataxpayer@gmail.com

**ETM’S PERSONAL CONVICTION/BELIEF

***PRIVILEGED COMMUNICATION