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Legal Strategies to Reduce Tax
Featured Speaker: Ms. Rhodora Icaranom
Former Revenue District Officer – B.I.R.
June 25, 2021
2:00pm – 5:00pm
Regular Rate Php 1,499.00 + VAT starting June 19, 2021
Early Bird Rate Php 1,399.00 + VAT until June 18, 2021
Group Rate Php 1,299.00 + VAT per pax for 5 or more pax
Inclusive of the Webinar Session, Presentation Materials of the Speaker and the Digital Certificate (with dashboard)
Legal Strategies to Reduce Tax
It is always an ordeal to taxpayers not knowing how to report the correct taxes and being able to report all the necessary costs and expenses to arrive at the least possible Income Tax, VAT, Percentage Tax and to avoid legally other transactions taxes.
This webinar shall tackle most if not all, the transactions of revenues, cost, capital and financial expenditures and operating expenses that when managed, can bring out the optimum tax savings. It is worth noting that the key to determining how to plan legally an entity’s tax optimization is by knowing the bases of the tax treatments of all the balance sheets and income accounts.
There had been continuing issuances of revenue regulations, memorandum orders, and circulars even during the time of pandemic which shall be helpful in ensuring that our financial condition and operations are shielded by proper compliance with the processes in order to maximize the deductions and minimize the entity’s tax exposure.
Items for Discussion:
- How to process your present losses to be booked in the current and future period.
- Learning the processes for Inventory Losses, Obsolescence, Spoilage and Breakage.
- How to properly claim Bad Debts.
- How to legally avoid Improperly Accumulated Earnings Tax and knowing who are exempt from it.
- Knowing the limitations of the EAR (Entertainment, Amusement & Recreation)
- Knowing the threshold of income deduction and VAT Input Tax claims on luxury vehicles.
- Knowing the How to Keep Exemptions (Income Tax Holiday, PEZA, BOI, BMBE)
- Learning the use of Tax-Free Exchange and its benefits to the transacting parties and the requirements.
- Learning the Proper Tax Presentation of Salaries and Wages (Taxable and Non-taxable)
- Determining the Interest Arbitrage (Limitations of Interest Expense Claims)
- How to donate with additional incentives, exemptions from Donors Tax, Income Tax and VAT.
- How to manage claims of Withholding Taxes (BIR Form 2307)
- Classifying assets into Capital Asset or Ordinary Asset and understand the Tax Risks for Income Tax and VAT purposes.
- Monitoring accounts that are subject to annual DST.
- Knowing the right to Amnesty, Compromise and Abatement of Penalties for Delinquent Accounts.
- and many more.
RESOURCE SPEAKER – Ms. Rhodora Icaranom
- Ms. Rhodora G. Icaranom is the former Revenue District Officer(RDO) of the Bureau of Internal Revenue. Her tax experience was mostly spent in the Financial District Makati where she was assigned as Asst. Revenue District Officer for almost nine years. She had a one-year stint in the Large Taxpayers’ Division as Head of the Banks and Financial Intermediaries.
- In her career with the tax authority she received a distinguished award on the nationwide BIR search for Outstanding Group Supervisor-Centennial Year during the BIR’s Centennial Celebration in 2004 for her consistent exemplary performance in Audit and Tax Collection being the Head of the Special Task Force in Manila Region. As a member of the BIR Pool of Speakers, she was a regular lecturer of BIR in various tax topics usually focused on updates. At the same time, she is an accredited PICPA speaker in the PICPA National office and various regions for the last two decades. She is also a former professor of Accounting at the De La Salle University.
- During her years of tax service in the government, she attended various trainings held by BIR, some of which were sponsored by Germany, Japan, US and by the big Auditing Firms. In November 2012, she was sent to a month-long training and conference for International Taxation on a Senior Executive Program in Tokyo, Japan sponsored by JICA. Subsequently in October 2015, she also represented BIR for the International Taxation on Financial Instruments in Kuala Lumpur, Malaysia sponsored by Malaysian Internal Revenue Authority and International Bureau of Fiscal Documentation IBFD of London.
LIMITED SLOTS. Limited slots are available. To avoid last-minute delays and inconveniences, we advise you to please register at the latest two days or one day before the webinar event.
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POWERMAX provides three (3) payment options:
(1) Bank Deposit/Online Bank Transfer
(3) PayPal/Credit or Debit Card Through PayPal
Bank Deposit or Online Bank Transfer / G-Cash
If you choose Bank Deposit/Online Bank Transfer or G-Cash, you have to send the proof of payment to firstname.lastname@example.org.
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If you choose to pay for your registration using PayPal you may do so. Please take note that PayPal also accepts Debit Cards and Credit Cards bearing the VISA and Mastercard logo. Unlike the Bank Deposit/Online Bank Transfer, the PayPal process automatically updates our system to issue the participants their access to our webinars.
WEBINAR ACCESS LINKS. Once payment is made and verified, we can activate the spot on the webinar then we can send the webinar access links to the email addresses of the participants – this only goes with Bank Deposit/Online Bank Transfer / G-Cash. However, for payments made using PayPal, the activation process is automatic. Note that your webinar access link cannot be shared with anyone else. If you cannot attend on the date and time of the webinar kindly advise us at the latest one day ahead.
POWER WEBINARS. Powermax live webinars are designed to give you an incisive insight into a plethora of interesting and relevant topics using Zoom technology. It aims to uncork the latest updates, best practices, useful strategies, and tactics, and/or practical tips and techniques not just to widen your horizon but also to equip you with the essential knowledge and skills. Hopefully, this will also encourage you to register for the other webinars of Powermax. Just visit our site – www.powermax.ph to see our other webinars.
A PLEASANT WEBINAR EXPERIENCE
To ensure a pleasant webinar experience, we recommend to registrants to:
- Download and install the Zoom application beforehand
- Ensure that there is a proper internet WIFI connection
- Use a working webinar streaming device.
TERMS AND CONDITIONS
- Definition of Terms
- REGISTRANT – The person who has registered himself or other people for a webinar of Powermax
- ENROLLEE(S) – The person(s) registered by the REGISTRANT
- PAID REGISTRANT – The registrant who has paid in full for the registration of the ENROLLEE(S)
- ATTENDEE(S) – The enrollee(s) who has / have actually attended the webinar
- The Official Receipts will be made available for pick up at the office of
Powermax Consulting Group. If you need a soft copy, we can take a picture of it and send you a copy online. However, if you want the physical copy delivered to your office, you can arrange with and pay for a local courier service like Lalamove or Grab Express.
- Sharing of the presentation materials depends on the webinar speaker.
(a) Some speakers willingly share their materials while others don’t.
(b) For the speakers who are willing to share their presentation materials
- Some prefer that the materials be sent in advance while others prefer that they be sent after the webinar
- Some prefer that the handouts to be given to the attendees are different from the PowerPoint files that they use and will not share the PPT files
Powermax cannot guarantee that the presentation materials of each webinar will be shared, or shared in advance, or will be the same as the PPT file of the speaker.
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- Any form of video, image or audio recording during the webinar is not allowed unless with the express permission of the speaker and the management of Powermax Consulting Group.
- Your registration fee entitles your enrollee(s) to a slot in a webinar you have paid for but no record of the video of the webinar will be shared.
- If an enrollee fails to join the webinar because Powermax fails to give the webinar link, the payment of his / her REGISTRANT will be refunded in full or if the REGISTRANT prefers, the payment will be rolled over to other webinars of his / her choice.
- If an enrollee advises Powermax five (5) days before the scheduled date of the webinar that he / she cannot attend it, the payment for that slot will be rolled over to another webinar. But if he / she avails of the presentation materials of that webinar (assuming the speaker has shared the materials), the payment cannot be rolled over to another webinar.
- If an enrollee fails to attend a webinar and also fails to advise Powermax five (5) days before the scheduled date of the webinar, the presentation materials of that webinar (assuming the speaker has shared the materials) will be given to him / her but there will be no option for rollover.
- If an enrollee fails to attend a webinar because of a technical glitch on his / her device but other enrollees manage to join the said webinar, there will be no liability on the part of Powermax unless it can be established that there is a clear fault by a representative of Powermax.
- Certificates will be given to the ATTENDEES only.
- Questions or clarifications about the subject matter of a webinar can only be entertained by the speakers during the holding of the webinar. After the webinar, the speaker cannot be obliged to answer them though email, Facebook chat or some other means.
- Unless asked by the speaker or the host to talk, the attendees should not unmute their microphone to avoid distracting the session. Anyone who persists in unmuting his / her audio, despite the reminder or warning, will be removed from the webinar session.
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- We want everyone to enjoy the webinar. However, we reserve the right to remove participants who are unruly or disruptive (e.g., keeps making noise, spamming the chat, etc.) and no refund will be made.
Thank you and enjoy!
Keep safe and God Bless!
Legal Strategies to Reduce Tax