Today's Issue
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Editor's Take: Rise To The Challenge
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Article: Valuing the VAT
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Tax Calendar - NEW!
By Miles B. Po
Most of you have heard of the government’s decision to expand the number of individuals covered by the Value Added Tax (VAT) system. Aside from registered taxpayers such as corporations and sole proprietorships, it now covers professionals such as actors, doctors and accountants to name a few. What really is VAT? And how does it affect your business? Here’s a lowdown on the issue.
To read more, click here!
Tax Calendar
April 16 - Last Day of e-Filing/Filing & e-Payment/Payment
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1701 & 1701-AIF - Annual ITR and AIF of self-employed individuals, estates and trusts for TY ended December 2006
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1702 & 1702-AIF - Annual ITR and AIF for corporations and partnerships for TY ended December 2006
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1704 - IAET for FY ended March 2006
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1707A - Consolidated CGT return for shares not traded in the stock exchange for TY ended December 2006
April 20 - Last Day of e-Filing/Filing & e-Payment/Payment
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2550M & 2551M - VAT & PT for March 2007 (non-EFPS taxpayers)
- Source: Punongbayan & Araullo
Editor's Take
Today's growing fascination with Entrepreneurship and Small and Medium Enterprises (SMEs) is a welcome and much needed change. Only a decade ago, the SME Community barely had its champions and your contributions to employment, foreign exchange earnings and diversity of trade went largely ignored.
Filipino Small and Medium Enterpreneurs (SMEs) have since moved front and center as standard bearers of creativity and solid values like hard work, discipline and devotion. Your drive, rugged determination and pioneer spirit can make a difference and leap frog the economy away from its status as an export platform of highly-skilled labor to a vibrant, sustainable and self-reliant industrial country.
The country needs more men and women who are able to take and shape ideas into the formidable presence that moves communities, enlivens the market and provides the bursts of energy to keep the gears of social progress turning.
Become an SME Advocate and help-
SHARE the spirit of entrepreneurship among Filipinos and bring honor to SMEs.
MOVE Filipinos to support best business practices and positive basic values.
EMPOWER each other by raising awareness among entrepreneurs, government officials and executives about the invaluable role SMEs play in economic development.
Let us rise to the challenge!
Russelle S. Trinidad
SME BizLink Editor
P.S. Don't forget to file your Annual ITR today.
