SyCipLaw’s Tax Department has prepared Tax Issues and Practical Solutions (T.I.P.S.) for November.
Please read the full text at https://tinyurl.com/SyCipLaw-NovemberTIPS-Vol14-1 or
https://tinyurl.com/NovemberTIPS-Vol14-2.
The SyCipLaw T.I.P.S. for November covers the following tax issues:
1. Is a letter informing the Bureau of Internal Revenue (BIR) that the taxpayer is “in the process of compiling necessary documentation” a valid protest?
2. Under the Tax Code, should a representative office be taxed as a regional headquarters (RHQ) or a regional operating headquarters (ROHQ)?
3. If a representative office earns income in the form of interest and dividends, does it become an income-generating ROHQ liable to pay income tax and VAT?
4. May the BIR submit proof of its issuance of a Preliminary Assessment Notice (PAN) and receipt thereof by the taxpayer – for the first time on a petition for review on certiorari before the Supreme Court?
5. Are intercompany advances subject to documentary stamp tax for intercompany advances even if no debt instrument is executed for the transaction?
6. May a local government unit impose local business taxes on a branch or sales office that has the “capability” or “possibility” of conducting sales activities but has not actually engaged in such activities?
7. HB8942: Tax Payments Made Easy