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TAX MANAGEMENT ASSOCIATION OF THE PHILIPPINES, INC.

CALENDAR OF EVENTS

NOVEMBER 2023 GENERAL MEMBERSHIP MEETING

November 29, 2023, 2:00 pm

Via Zoom

Guest Speaker: Ms. Catherine Lipana

Topic: Environment, Social, and Governance (ESG) Matters

 

TMAP CHRISTMAS PARTY 2023

​December 7, 2023, Thursday

​11:30 am to 3:00 pm

Makati Diamond Residences

Theme: Barbie and Ken Christmas

 

LATEST NEWS

OTHER NEWS

TAX INSIGHTS

Update on tax assessment due process from NIC to ND

By Ma. Lourdes Politado-Aclan

 

Due process is an obligation of the state to respect all the legal rights owed to a person. This balances the power of law of the land and protects the individual person from it. In law, due process contemplates notice and opportunity to be heard before judgment is rendered.

 

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How will the CREATE Law affect your 2020 ITR?

By Lea Roque

 

And so, it came to pass. The Corporate Recovery and Tax Incentives for Enterprises (CREATE) Bill, though with vetoed provisions, was finally signed by the President on March 26 as Republic Act No. 11534. After years of waiting for the lowering of the corporate income tax and the rationalization of fiscal incentives, we now have the law just waiting to be published to be effective.

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New Guidelines In the Availment of Tax Treaty Benefits

By Atty. Fulvio D. Dawilan

 

The Bureau of Internal Revenue issued Revenue Memorandum Order No. 14-2021 (RMO 14-21) purportedly to streamline the procedures and documents in the availment of tax treaty benefits.

 

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Easing the burden through Bayanihan II’s tax breaks

By Olivier D. Aznar

 

It has been over six months of quarantine and the fight against this pandemic has been challenging. Coronavirus disease 2019, or COVID-19, is an unusual enemy that does not allow us to fight back head-on or face-to-face. It is the type of enemy that makes us hide and stay at home if we want to win the battle. Nonetheless, I believe that resilience is inherent among us Filipinos, with all the difficulties we may have probably experienced in our lives.

 

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Lingkod TMAP 2023

Volunteers from TMAP member firms provided assistance to taxpayers on April 13, 14, and 17, 2023 at Revenue Region (RR) Nos. 7A, 7B, 8A, and 8B.  TMAP volunteers answered queries from various individual taxpayers on income tax return filing requirements and assisted some taxpayers in computing their income tax payable for the taxable year 2022.

 

Read moreLingkod TMAP 2023 Volunteers from TMAP member firms provided assistance to taxpayers on April 13, 14, and 17, 2023 at Revenue Region (RR) Nos. 7A, 7B, 8A, and 8B.  TMAP volunteers answered queries from various individual taxpayers on income tax return filing requirements and assisted some taxpayers in computing their income tax payable for the taxable year 2022. TMAP President Atty. Suzette A. Celicious-Sy spearheaded Lingkod TMAP 2023 together with the help of Project Chairpersons for each Revenue Region, namely, Director Roselle Caraig (RR No. 7A), Director Mike Garcia (RR No. 7B), Director Kenny Mijares (RR No. 8A), and Vice-President for Internal Affairs Jacquie Yu-Villar (RR No. 8B) TMAP wishes to thank the volunteers from the following member firms for their participation in Lingkod TMAP 2023: Layug, Celicious-Sy & Villapando Law Office; Isla Lipana & Co. – PWC; Salvador Llanillo & Bernardo (SLB); Romulo Mabanta Buenaventura Sayoc & de Los Angeles; Mazars Philippines – Yu Villar Tadeja & Co; SyCip Salazar Hernandez & Gatmaitan; Morfe, Ceneta & Co., CPAs; SM Investments Corporation, Suy Sing Commercial Corporation, and other member firms who supported the activity. 

TMAP 2023 Officers and Members of the Board of Directors Visit Tulay ng Kabataan

On May 30, 2023, the Officers and Directors of TMAP visited ANAK-Tulay ng Kabataan (ANAK-Tnk) Foundation in Quezon City and turned over TMAP’s donation to the foundation.

 

Read moreTMAP 2023 Officers and Members of the Board of Directors Visit Tulay ng Kabataan On May 30, 2023, the Officers and Directors of TMAP visited ANAK-Tulay ng Kabataan (ANAK-Tnk) Foundation in Quezon City and turned over TMAP’s donation to the foundation.  ANAK-Tnk is a non-governmental organization founded in 1998 to support Metro Manila’s street children.  The mission of the ANAK-Tnk is to bring back the smiles and dignity of Metro Manila’s most unfortunate children.  TMAP Officers and Directors met ANAK-Tnk’s Executive Director, Father Matthieu Dauchez, its administrators, and the children under their care. 

TMAP Holds Its May GMM with Talk on Cryptocurrency Basics

On May 25, 2023, TMAP held its May 2023 General Membership Meeting (GMM) at the Makati Diamond Residences.

 

Read moreTMAP Holds Its May GMM with Talk on Cryptocurrency Basics On May 25, 2023, TMAP held its May 2023 General Membership Meeting (GMM) at the Makati Diamond Residences.  The guest speaker for the GMM was Atty. Nadaine Tongco-Edades, Associate General Counsel and Head of Tax and Finance of Enjin Pte. Ltd, who gave a talk on the fundamentals of cryptocurrencies.  Atty. Tongco-Edades discussed the history, basic concepts, pros and cons, and regulatory landscape of cryptocurrencies. 

TMAP Holds Its June GMM with a Talk on REITs

On June 29, 2023, TMAP held its June 2023 General Membership Meeting (GMM) via Zoom.  The guest speaker for the GMM was Atty. Roel A. Refran, Executive Vice President and Chief Operating Officer of the Philippine Stock Exchange, Inc.  Atty. Refran gave a talk on the basic regulatory framework of Real Estate Investment Trusts (REITs) in the Philippines.  He also provides updates and developments on REITs

Read moreTMAP Holds Its June GMM with a Talk on REITs On June 29, 2023, TMAP held its June 2023 General Membership Meeting (GMM) via Zoom.  The guest speaker for the GMM was Atty. Roel A. Refran, Executive Vice President and Chief Operating Officer of the Philippine Stock Exchange, Inc.  Atty. Refran gave a talk on the basic regulatory framework of Real Estate Investment Trusts (REITs) in the Philippines.  He also provides updates and developments on REITs. 

TMAP Holds Its 13th Annual Gold Tournament and Bingo Socials

On July 21, 2023, TMAP held its 13th Annual Golf Tournament at the Ayala Greenfields Golf and Leisure Club in Calamba, Laguna.  More than 50 golfers participated in the annual tournament with the top prize going to Mr. Louie Yupangco from PwC Philippines/Isla Lipana & Co.

Read moreTMAP Holds Its 13th Annual Golf Tournament and Bingo Socials On July 21, 2023, TMAP held its 13th Annual Golf Tournament at the Ayala Greenfields Golf and Leisure Club in Calamba, Laguna.  More than 50 golfers participated in the annual tournament with the top prize going to Mr. Louie Yupangco from PwC Philippines/Isla Lipana & Co.   There was also a Bingo social and raffle event that took place for non-golfers.  The proceeds of the tournament will be used for TMAP’s outreach and advocacy projects for the year. 

TMAP Holds July GMM with Updates from the BLGF

On July 27, 2023, TMAP held its July 2023 General Membership Meeting (GMM) at the Makati Diamond Residence.  The guest speakers from the GMM were Mr. Niño Raymond B. Alvina, the Executive Director of the Bureau of Local Government Finance (BLGF) and Ms. Brenda L. Miranda, OIC Director of Local Fiscal Policy Service of the BLGF.

Read moreTMAP Holds July GMM with Updates from the BLGF On July 27, 2023, TMAP held its July 2023 General Membership Meeting (GMM) at the Makati Diamond Residence.  The guest speakers from the GMM were Mr. Niño Raymond B. Alvina, the Executive Director of the Bureau of Local Government Finance (BLGF) and Ms. Brenda L. Miranda, OIC Director of Local Fiscal Policy Service of the BLGF.  Mr. Alvina and Ms. Miranda provided updates on the relevant rulings and issuances of the BLGF and the Department of Finance. 

TMAP Holds August GMM with Updates from the PCC

On August 31, 2023, TMAP held its August 2023 General Membership Meeting (GMM) via Zoom.  The guest speaker for the GMM was Atty.  Lolibeth Ramit-Medrano, Commissioner of the Philippine Competition Commission.  Commissioner Ramit-Medrano discussed the basic regulatory framework on competition in the Philippines and the significant provisions of the Philippine Competition Act and its implementing rules and regulations.

Read moreTMAP Holds August GMM with Updates from the PCC On August 31, 2023, TMAP held its August 2023 General Membership Meeting (GMM) via Zoom.  The guest speaker for the GMM was Atty.  Lolibeth Ramit-Medrano, Commissioner of the Philippine Competition Commission.  Commissioner Ramit-Medrano discussed the basic regulatory framework on competition in the Philippines and the significant provisions of the Philippine Competition Act and its implementing rules and regulations. 

September 2023 TMAP Events

TMAP will hold its September 2023 General Membership Meeting (GMM) onsite at the Makati Diamond Residences on September 28, 2023.  Guest speaker for the GMM will be ACIR Jethro Sabarriage who will lead a fireside chat on Large Taxpayer Service (LTS) updates.  On the same day, TMAP will also hold its second tax seminar for the year with the following honored resource speakers:

Read moreSeptember 2023 TMAP Events  TMAP will hold its September 2023 General Membership Meeting (GMM) onsite at the Makati Diamond Residences on September 28, 2023.  Guest speaker for the GMM will be ACIR Jethro Sabarriage who will lead a fireside chat on Large Taxpayer Service (LTS) updates.  On the same day, TMAP will also hold its second tax seminar for the year with the following honored resource speakers:
    ​Hon. Catherine T. Manahan
    Associate Justice    Court of Tax Appeals    Topic: Recent Tax Jurisprudence     Hon. Rufino C. Cantaros, Jr.    Chief of Staff, Office of the Commissioner    Bureau of Internal Revenue    Topic: Updates on Run After Fake Transactions (RAFT) Task Force     Hon. James H. Roldan    Assistant Commissioner, Enforcement & Advocacy Service    Bureau of Internal Revenue    Topic: Updates on Run After Tax Evaders (RATE) Program     Atty. Carlo L. Navarro    Deloitte Southeast Asia Transfer Pricing Leader    Topic: Updates on Transfer Pricing
Please wait for the registration links which will be sent by the TMAP Secretariat through Glue Up.  Hope to see you there!
 

TMAP Holds its Second Tax Seminar for 2023

On September 28, 2023, TMAP held its second tax seminar for the year with the following honored resource speakers:

Read moreTMAP Holds its Second Tax Seminar in 2023 On September 28, 2023, TMAP held its second tax seminar for the year with the following honored resource speakers: Hon. Catherine T. ManahanAssociate JusticeCourt of Tax AppealsTopic: Recent Tax Jurisprudence Hon. Rufino C. Cantaros, Jr.Chief of Staff, Office of the CommissionerBureau of Internal RevenueTopic: Updates on Run After Fake Transactions (RAFT) Task Force Hon. James H. RoldanAssistant Commissioner, Enforcement & Advocacy ServiceBureau of Internal RevenueTopic: Updates on Run After Tax Evaders (RATE) Program Atty. Carlo L. NavarroDeloitte Southeast Asia Transfer Pricing LeaderTopic: Updates on Transfer Pricing   

TMAP Holds its September GMM with a Fireside Chat with ACIR Sabariaga of the LTS

On September 28, 2023, TMAP held its September 2023 General Membership Meeting (GMM) at the Makati Diamond Residences.  The guest speaker for the GMM was Assistant Commissioner (ACIR) Jethro Sabariaga, ACIR for the Large Taxpayers Service (LTS) of the Bureau of Internal Revenue.

Read moreTMAP Holds its September GMM with a Fireside Chat with ACIR Sabariaga of the LTS On September 28, 2023, TMAP held its September 2023 General Membership Meeting (GMM) at the Makati Diamond Residences.  The guest speaker for the GMM was Assistant Commissioner (ACIR) Jethro Sabariaga, ACIR for the Large Taxpayers Service (LTS) of the Bureau of Internal Revenue.  ACIR Sabariaga led a fireside chat on the updates on the policies of the LTS as well as issues and challenges faced by the large taxpayers under the jurisdiction of the LTS.   

SAVE THE DATE: TMAP CHRISTMAS PARTY 2023

TMAP will hold its Christmas Party for 2023 on December 7, 2023, Thursday, from 11:30 am to 3:00 pm at the Makati Diamond Residences.   The theme for this year-end party will be Barbie and Ken Christmas.  See attached photos for details.

Read moreSAVE THE DATE: TMAP CHRISTMAS PARTY 2023 TMAP will hold its Christmas Party for 2023 on December 7, 2023, Thursday, from 11:30 am to 3:00 pm at the Makati Diamond Residences.   The theme for this year-end party will be Barbie and Ken Christmas.  See attached photos for details. To register for the event, scan the QR code on the attached poster or visit bit.ly/TMAPXMAS2023.    

TMAP Holds its October GMM with a Discussion on Eat Bulaga IP Dispute

On October  26, 2023, TMAP held its October 2023 General Membership Meeting (GMM) via Zoom.  The guest speaker for the GMM was Atty. Ray Anthony O. Pinoy, Senior Partner and Head of the Intellectual Property (IP) Practice at Castillo Laman Tan Pantaleon & San Jose Law Office.

Read moreTMAP Holds its October GMM with a Discussion on Eat Bulaga IP Dispute On October  26, 2023, TMAP held its October 2023 General Membership Meeting (GMM) via Zoom.  The guest speaker for the GMM was Atty. Ray Anthony O. Pinoy, Senior Partner and Head of the Intellectual Property (IP) Practice at Castillo Laman Tan Pantaleon & San Jose Law Office.  Atty. Pinoy discussed the issues that are involved in the ongoing Eat Bulaga IP dispute and provided his personal views and different perspectives on how this may be resolved.

Note:  In this section, we will feature articles from TMAP’s roster of officers, board of directors and members to create public awareness on the impact of current tax issues. For this month, we share tax insights from  Atty. Fulvio D. Dawilan, Lea Roque, Ma. Lourdes Politado-Aclan and Olivier D. Aznar. Atty. Fulvio Dawilan is TMAP's Vice President - Internal Affairs. Lea Roque is a principal of the Tax Advisory & Compliance division of P&A Grant Thornton, the Philippine member firm of Grant Thornton International Ltd. Ma. Lourdes Politado-Aclan is a director from the Tax Advisory & Compliance division of P&A Grant Thornton, the Philippine member firm of Grant Thornton International Ltd. Olivier D. Aznar is a partner and head of the Tax Advisory & Compliance division of P&A Grant Thornton, the Philippine member firm of Grant Thornton International Ltd.

CALENDAR OF EVENTS

NOVEMBER 2023 GENERAL MEMBERSHIP MEETING

November 29, 2023, 2:00 pm

Via Zoom

Guest Speaker: Ms. Catherine Lipana

Topic: Environment, Social, and Governance (ESG) Matters

 

TMAP CHRISTMAS PARTY 2023

​December 7, 2023, Thursday

​11:30 am to 3:00 pm

Makati Diamond Residences

Theme: Barbie and Ken Christmas

 

Connect with us

NOVEMBER 2023 GENERAL MEMBERSHIP MEETING

November 29, 2023, 2:00 pm

Via Zoom

Guest Speaker: Ms. Catherine Lipana

Topic: Environment, Social, and Governance (ESG) Matters

 

TMAP CHRISTMAS PARTY 2023

​December 7, 2023, Thursday

​11:30 am to 3:00 pm

Makati Diamond Residences

Theme: Barbie and Ken Christmas