ALL ABOUT LOCAL TAXATION & YEAR-END TAX REMINDERS 2020 CHOOSE YOUR DATE & RESERVE NOW!

Dec 19, 2019 | Public Seminars

ALL ABOUT LOCAL TAXATION & YEAR-END TAX REMINDERS 2020

CHOOSE YOUR DATE & RESERVE NOW! AVAIL OF OUR EARLY-BIRD DISCOUNT & FOUR (4) + ONE (1) FREE!

We will be holding our 1st PUBLIC SEMINAR FOR 2020 entitled ALL ABOUT LOCAL TAXATION & YEAR-END TAX REMINDERS.

This CPD-accredited event is ideal for Compliance officers, Lawyers, BIR compliance officers, Purchasing and Disbursement Accountants, HR Practitioners, business owners and directors who are involved in their company’s year-end tax compliance.

In order to accommodate the growing number of attendees, the seminar will be conducted in three (3) runs on the following dates at the AIM Center Makati City:

  1. February 03, 2020 // 1-6pm
  2. February 05, 2020 // 1-6pm
  3. February 06, 2020 // 1-6pm

In this 5-hour talk, we will attempt to cover the following areas of concerns:

PART I REVISITING THE BASICS

  1. Revisiting the basics on renewal fees such as Local Business Tax, mayor’s permit & licenses, barangay business permit, sanitary inspection fee, garbage fee, building inspection fee, electrical inspection fee, mechanical inspection fee, plumbing inspection fee, fire inspection fee, personnel fee, business plate registration fee, community tax certificate & place of payment
  2. Situs & allocation rules on company with branch, factory, warehouse, depot, plantation, manufacturers, assemblers, contractors, producers, power plant, and exporters with factories, project offices & plants including banks & other financial institutions, insurance, and mining with numerous presence throughout the country
  3. Installment payment of Local Business Tax & deadlines, corresponding surcharge & interest rates on default, deadlines & extension
  4. Revisiting the basics on application for new & start-up business & renewal documents, locational clearance, components of assessment sheet, registration & documentary requirements, permits & forms to fill-up,
  5. What to do in case of tax mapping & inspection, documents need to prepare, how to address & respond to assessable penalties for noted violations, where & when to appeal,
  6. Revisiting the basics of real property tax on land, building, improvements & machineries, timing of payment & availment of discount & amnesty
  7. Reportorial requirements on semi-annual submission of list of employees to LGU
  8. Revisiting the processes involved in the assessment by LGU, tax audit requirements, its basis & taxpayer’s remedies, refund process vs. offsetting mechanism

 

PART II SPECIAL CIRCUMSTANCES CITING BUREAU OF LOCAL GOVERNMENT FINANCE (BLGF) RULINGS & OPINIONS

  1. Transfer & retirement of business vis-à-vis LGU which has rightful authority to impose local tax, refund mechanism, documentary requirements for tax clearance, late filing of retirement notice
  2. Legality of regular & special assessment on real estate tax on common property of a condominium corporation such as gym, pool, garden, and other common amenities, exemption from transfer tax on subsequent registration to association
  3. Proper tax base for promotion & advertising agencies with third-party payments, logistics & freight-forwarding company with inter-jurisdictional boundaries, gross receipts vs. gross revenues, clarified
  4. Legality of local business tax imposed on dividend, interest income, net earnings of an associate, & gains from sale of shares of stocks of an investor & holding company, bank & non-bank financial intermediary,
  5. Ruling on net commission income as proper tax base for distributorship entities
  6. Legality of real property tax imposition on machineries of a restaurant & mall operators
  7. Citations challenging Presumptive Income Level Assessment Approach
  8. Legality of imposition of real property tax, local taxes & regulatory fees to PEZA-registered entities

 

PART III PRECEDENTS

  1. LBT exemption of ROHQ, logistics office, Local Water Districts, sale of real property by non-stock, non-profit institutions
  2. Business permit not required for temporary sales outlet or warehouse
  3. BOI-registered entities compliance to avail LBT exemption
  4. Real property tax exemption for donated land to LGU
  5. Cooperatives dealing with members exempt from LBT, extent of RPT exemption clarified
  6. LGU prohibited from imposing taxes on any business engaged in the production, manufacture, refining, distribution or sale of petroleum products
  7. Electric poles & steel towers of electric cooperatives subject to RPT on machineries
  8. Tax declarations as basis of RPT imposition
  9. Professionals exempt from securing Mayor’s Permit and paying LBT on practice of profession, practice of profession nationwide allowed, dental clinics exempt from LBT
  10. LBT imposition for a mining company into exploratory stage not allowed
  11. Open space in subdivision for public use exempt from RPT
  12. RPT exemption on real property owned by the government & political subdivisions

 

PART IV YEAR-END TAX REMINDERS

1. Alerts on upcoming BIR deadlines on HR & statutory compliance such as submission of alphabetical list of employees, distribution of tax refunds, & certificates of withholding tax to individual employees to happen January & February 2020

2. Knowing the specific contents of your Inventory List submission under the BIR-prescribed format

3. Avoiding exposures and what to look at in the submission of alphabetical list of payees/suppliers to happen March 2020

4. Tax traps: what to look at in the finalization and submission of 2019 audited financial statements to happen April 2020

For inquiries, you may reach us at:

 8 894-5892 & look for GEORGIE/EMMAN

You may also send your queries to

taxseminars@dmdcpa.com.ph