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Lilian Hefti, was head of the BIR who assumed office in September 2007, but resigned in October 2008, for health reasons. [5] [6] On October 20, 2008, she was replaced by Sixto Esquivias, who served as deputy commissioner. [7] The Bureau currently has more than 75 BIR Forms [8] and tax classification for different professionals and businesses.
Taxes imposed at the national level are collected by the Bureau of Internal Revenue (BIR), while those imposed at the local level (i.e., provincial, city, municipal, barangay) are collected by a local treasurer's office.
Amount of deductible housing loan interest, training expenses, gifts and donations is limited – in 2011, the limit was 3196 euros but no more than 50% of the taxpayer's income during the same period of taxation. [3] There is no capital gains tax but gains from transfer of securities or other financial assets are subject to standard income tax ...
WASHINGTON (Reuters) -The U.S. budget deficit jumped nearly four-fold to $257 billion in October, a figure inflated by one-off factors, the Treasury Department said on Wednesday in a report that ...
SG&A – Sales, General, and Administrative expenses; SIMPLE – Savings Incentive Match Plan for Employees; SIOP – Sales Inventory and Operations Plan; SIR – Stores Issuance Requisition; SIV – Structured investment vehicle; SKU – Stock keeping unit; SLA – Service Level Agreement; SMA – Separately Managed Account; SME – Small and ...
Factor in living expenses, debt repayment, savings, and investments. Then look at how your asset allocation is divided between bonds, cash, and stocks so that it’s balanced for your risk ...
One of the biggest decisions anyone has to make for retirement is where to invest money. If you ask 10 different financial advisors, there is a 100% chance you’ll get 10 different answers. This ...
In the United States, an income tax audit is the examination of a business or individual tax return by the Internal Revenue Service (IRS) or state tax authority. The IRS and various state revenue departments use the terms audit, examination, review, and notice to describe various aspects of enforcement and administration of the tax laws.