A closer look at IFRIC 21 - Levies (CAL March 2015)
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.
Minimum Wage: P15 in my pocket (Taxwise, 9 April 2015)
Last week, I informed my industrial relations class about the newly-issued minimum wage increase of P15.00 a day in the NCR. So I asked: “What can you buy with P15.00 today? Definitely not Cornetto ice-cream because the ad says P20.00?”
Tax Alert No. 23 (13 April 2015)
Deferment of Implementation on eFiling of "No Payment" Income Tax Returns (ITRs) and Other Concerns