A publication about developments in Philippine taxation. The contents usually include latest Republic Acts, Bureau of Internal Revenue issuances, Customs regulations, Court decisions, BSP circulars, SEC circulars, Department of Justice opinions and Executive Orders relevant to Tax practice.
One of the new interpretations that came into effect for 2014 is IFRIC 21 ‘Levies’. It was published by the IFRS Interpretations Committee (IC) in May 2013 to address diversity in practice in the recognition of the liability to pay a levy.
For previous Client Advisory Letters issues, please contact:
Lyn Golez, Tax services