GABOTAF

[ad_1] 1. Thirteenth (13th) Month Pay (Year-End Bonus) and Other Benefits not exceeding Ninety Thousand Pesos (P90,000.00) paid or accrued during the year. Any amount exceeding Ninety Thousand Pesos (P90,000.00) are taxable compensation. 2. Facilities and privileges of relatively small value or “De Minimis Benefits” as defined in existing issuances and conforming to the ceilings prescribed therein; 3. Fringe benefits which are subject to the fringe benefits tax under Section 33 of the NIRC, as amended; 4. Representation and Transportation Allowance (RATA) granted to public officers and employees under the General Appropriations Act; 5. Personnel Economic Relief Allowance (PERA) granted...

[ad_1] If the seller is engaged in the sale of goods or properties, it will need to issue a Sales Invoice when the goods are sold to the buyer, whether cash or on credit. If the sale was on credit, the seller will then issue a collection receipt upon receipt of cash from the buyer. If the sale was paid on cash, a Cash Invoice is enough. Under BIR Revenue Regulation No. 18-2012, a Cash Sales Invoice or Cash Invoice fall under the definition of Sales Invoice. What about an Official Receipt? Is it a Proof of Payment? Find out...

[ad_1] Under Sec. 9, Rule XIII (Prohibitions), Revised Omnibus Rules on Appointments and Other Personnel Actions (CSC MC No. 40, s. 1998), the following are the rules on Nepotism: Sec. 9. No appointment in the national, provincial, city or municipal governments or any branch or instrumentality thereof, including government owned or controlled corporations with original charters shall be made in favor of a relative of the appointing or recommending authority, or of the chief of the bureau or office or of the person exercising immediate supervision over the appointee. Unless otherwise provided by law, the word “relative” and the members...

[ad_1] A little conversation: Boss: Dumating na NCA natin? (Have we received our NCA?) Accountant: Wala pa tayong NCA, Boss! (We do not have NCA yet, Boss!) At the end of the quarter: Accountant: Boss, meron pa tayong P25,000 na natitirang NCA. Maglalapsed po ito kung di natin magamit. (Boss, we still have P25,000.00 left in our account. This will lapsed if not used.) Boss: Hayaan mo na. Ipa-revert mo na lang. (It’s ok. Let it revert.) Reading through the conversation, what have you noticed? What were the terms used? Were they correctly used? Technically, it’s wrong to say “Wala...

[ad_1] ARE YOU WORRIED because you used the wrong BIR Form in filing your tax returns and the BIR might impose penalties on you? DO YOU KNOW that there are several intances where the BIR can abate or cancel the penalties imposed on you? Among others, the screenshot of BIR Revenue Regulation No. 13-2001, as amended by RR 4-2012, below shows the instances where the BIR can abate/cancel such penalties imposed on the taxpayer. Credit: This information has been shared by one of our members. Should you have relevant information that you want to share to the group, kindly send...

[ad_1] Are local government accountants allowed to withhold payment by not signing in the disbursement voucher (no waiver executed) of the disbursements of an activity for the current year (MISS TOURISM 2018)pending notice of settlement from COA relative to the Notices of Suspension issued to similar activities of the previous year (e.g. MISS TOURISM 2017) despite that the documentary requirements are complete? If not, what law, rules or regulation does he violate? Will a complaint against her (i.e. In the ombudsman) prosper? #RulesOnwithholdingOfPayment #AccountabilitiesAndRepobsibilitiesOfAccountantants #GABOTAF View Answers/Leave a comment [ad_2] Post Views: 1,132