Member Article

The SyCipLaw T.I.P.S. for October cover the following tax issues:

1. When the taxpayer cannot be located, what are the options available to a Revenue Officer in serving an electronic Letter of Authority? 

2. Is the sale, barter, exchange or other disposition through Initial Public Offering of shares of stock in closely held corporations subject to tax?

3. Are loans extended, or credits restructured, as a result of the mandatory 60-day grace period under the Bayanihan 2 subject to documentary stamp tax?

4. What is the maximum period within which a taxpayer may carry over its Net Operating Loss for taxable years 2020 and 2021?

5. Are donations of personal computers, laptops, tablets, or similar equipment for use in teaching and learning in public schools subject to tax?

6. What are the adjusted deadlines for the filing of input VAT refund claims?

7. Is the importation and manufacture of critical equipment and essential goods subject to tax?

8. What income payments are exempt from income tax under Bayanihan 2?

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