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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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:
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:
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.
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.
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.
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.
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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
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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