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Tax highlights in 2023 | Atty. Mabel L. Buted

Happy Holidays! As the year 2023 is coming to an end, let us take a look back on the significant tax updates for the whole year. On January 1, 2023, individual taxpayers started to enjoy lower tax rates on their income. Those who were previously taxed at 20 percent to… ....

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Percentage Tax Rate, MCIT Rate And Income Tax Rate For Non-Stock And Non-Profit Schools And Hospitals Revert Back To Its ORIGINAL Rates

The provision on the adoption of the 1% Percentage Tax rate from July 1, 2020 to June 30, 2023 has been promulgated in March 2021 under the Corporate Recovery ....

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Taxes for nonprofits revert back to original rates

THE Bureau of of Internal Revenue (BIR) announced recently that starting July 1, 2023, persons subject to percentage tax under Section 116 of the National Internal Revenue Code (NIRC) of 1997, as amended, will revert to 3 percent of their gross quarterly sales or receipts. As provided in the said… ....

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What's in and what's out in 2023?

Each new year is an opportunity for a fresh start and new beginnings. Regardless of what your goals are or how many resolutions you plan to make for 2023, ringing in the new year is a moment to be acknowledged and must be welcomed with a cordial reception. ....

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2023 tax trends and ends: The sequel - BusinessWorld Online

2023 tax trends and ends: The sequel - BusinessWorld Online
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