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The CREATE Law and Its Implementing Rules
₱1,499.00 + VAT
Featured Speaker: Ms. Rhodora Icaranom
Former Revenue District Officer – B.I.R.
July 1, 2021
2:00pm – 5:00pm
Regular Rate Php 1,499.00 + VAT starting June 25, 2021
Early Bird Rate Php 1,399.00 + VAT until June 24, 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)
The CREATE Law and Its Implementing Rules
- Reduction of Corporate Income Tax Rates (RCIT/MCIT)
- Final Income Tax Rates for Corporations
- Exemption of intercorporate dividends including foreign sourced dividends
- Reduction on Income Tax preferential rate of proprietary Institutions and non-profit hospitals
- Repeal of the Improperly Accumulated Earnings Tax
- Subjecting OBUs and ROHQs to RCIT
- Reduction of Percentage Tax Rate
- Tax Free Exchange (Sec 40) No BIR ruling required
- Additional VAT Exemptions of certain goods and services
- Interest Arbitrage (for Corporate Income Tax Rates of 25% and 20%)
- Deductions from Gross Income
- Companies/Enterprises qualified for incentives
- What are qualified activities to avail the incentives of ITH/SCIT
- What are the fiscal incentives and other incentives
- Rationalization of incentives based on location and industry
- Enhanced Deductions for qualified enterprises
- Sunset periods for existing projects
- Authority to grant incentives
- FIRB and IPA as regulatory bodies for the incentives application and grant
- Items vetoed by the President of the Republic of the Philippines
Implementing Revenue Regulations:
RR 2-2021 Implementing the new FINAL Tax Rates on certain passive income of Individuals and Corporations pursuant to CREATE
- Income payments to Non-resident Aliens Engaged in Trade or business in the Phils.
- Income Payments to a Resident Foreign Corporation
- Income derived from all Sources within the Phils. By Non-resident foreign corporation
- Government Money Payments
RR 3-2021 Amendment of Section 20 of the NIRC of 1997
- Submission of Tax-Related and Pertinent Information to the BIR/DOF from entities receiving incentives
- Prohibition of BIR/DOF from leaking information to any person without prior written approval from the CIR pursuant to Sec 270 of the Tax Code, as amended
RR 4-2021 Implementing CREATE provisions affecting VAT and PT
- VAT Exemptions on sale of real properties
- Additional coverage of VAT exemptions w/ illustrations
- Tax on Persons exempt from VAT
RR 5-2021 Implementing the impact of CREATE like new IT rates on the regular income of corporations, certain passive income, including additional allowable deductions from Gross Income of persons engaged in Business or Practice of Profession
- Description of entities and their corresponding changes in rates and dates of effectivity
- Proprietary Educational Institutions
- Proprietary Hospitals
- Regional Operating Headquarters
- IT rates on different passive income
- Exemption of intercorporate foreign-sourced dividends subject to conditions
- Repeal of Improperly Accumulated Earnings Tax
- Allowable Deduction for Business Persons
- Non-recognition of Gain or Loss on Exchange of Property
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.
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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.
IMPORTANT: Proof of payment must be sent to email@example.com. Failure to send the proof of payment to firstname.lastname@example.org means the participants will not receive the webinar links even if the proof of payment is sent to other contact details of Powermax or its representatives (e.g., Facebook, Messenger, Viber, other email addresses, etc.).
Payment Through PayPal
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.
- 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 given.
- 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 through 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.
Thank you and enjoy!
Keep safe and God Bless!