Outline: A Comprehensive Lecture on Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) Law and Latest Updates on the Tax Amnesty Bill

I have been getting a number of queries from clients & friends on the new TRAIN Law. As such, in my upcoming series of trainings on the TRAIN Law, I will be discussing the following:
  1. Background on the TRAIN Law
  2. Amendments to the NIRC Provisions on Income Tax
    1. New Income Tax Rates for Individuals
    2. Self-employed Individuals/ Professionals
    3. Mixed Income Earners
    4. Removal of Personal Exemptions
    5. Fringe Benefit Taxes
    6. Filing and Payment of Taxes
    1. Individuals
    2. Corporations
    3. Optional Standard Deduction
    4. Installment Payment
  3. Amendments to Tax Rates of Passive Income
  4. Amendments to the NIRC Provisions on Withholding Taxes
    1. Expanded Withholding Taxes
    2. Final Withholding Taxes
     
  5. Amendments to the NIRC affecting Estate Tax 
    1. New Estate Tax Rate
    2. Filing and Payment of Estate Tax Returns


  6. Amendments to the NIRC affecting Donor’s Tax
    1. New Donor’s Tax Rate
    2. Filing and Payment of Donor’s Tax Returns


  7. Amendments to the NIRC affecting Value Added Tax (“VAT”)
    1. VAT Threshold
    2. VAT Exemptions
    3. Sale/ Purchase/ Lease of Residential Units
    4. VAT Refund

  8. New Documentary Stamp Tax Rates
  9. New Excise Tax Rates

  10. Other Significant Provisions
    1. Interest on unpaid taxes
    2. Keeping Book of Accounts
    3. Penalties for Tax Evasion and Non-issuance of Receipts

And as a Bonus Topic, I will also be discussing the latest updates on the proposed Tax Amnesty Bill.








Atty. Jean Francois “Punch” D. Rivera III is a member of the Philippine Bar and a Certified Public Accountant with over 18 years of experience in tax management practice. He started his career with Sycip, Gorres, Velayo & Co. (an affiliate of Ernst & Young) as a member of the Tax Compliance Group and thereafter as an associate at the Tax Department of Angara Abello Concepcion Regala & Cruz Law Offices. He also served as Technical Assistant Attorney at the Office of the Deputy Commissioner for Legal and Enforcement of the Bureau of Internal Revenue. Atty. Rivera is a Senior Lecturer at the University of the Philippines, College of Business Administration for Taxation Law, Partnerships and Corporation Law, and Law on Obligations and Contracts, among others. He is a Senior Partner at Galias & Rivera Law Offices.



          

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