To quote an author, "Kindly intentioned, but not considerate." This could be an apt description of CITIRA – the Corporate Income Tax and Incentive Rationalization Act. PwC Philippines Chairman and Senior Partner Alex Cabrera explains the most compelling reasons not to pass the CITIRA bill in its current form in his article "CITIRA: One last cry".
In Manila, you can tell that the Christmas season has begun when street posts and trees are adorned with glittering lights; traffic gets heavier, shopping malls become busier; and Christmas songs start playing on the airwaves. For Filipinos, Christmas is the most awaited holiday of the year, anticipated as early as September. Such festivities, fortunately or otherwise, come with gift-giving traditions and family celebrations that often obligate people to dig deeper into their pockets.
Comparable to our Bureau of Internal Revenue (BIR)-issued identification number, more popularly known as TIN, the US Internal Revenue Service (IRS) likewise issues an Individual Taxpayer Identification Number (ITIN), which is used as a tax processing number. The ITINs are issued to individuals who are required to obtain one under United States (US) tax law, but who do not have and are not eligible to obtain a Social Security Number (SSN) from the Social Security Administration (SSA).
If government does not fare well in global surveys on several aspects of governance, how do Philippine listed companies rank vs its neighbors in the Asia Pacific? Join PwC Philippines Chairman and Senior Partner Alex Cabrera in understanding the chances of the Philippine contingent in going from “cellar to stellar" in “The fierce urgency of now".
