BIR UPDATE

Republic Act 9504 or the act amending several sections of RA 8424 has already been signed into law!

This is good news!

The new personal deduction for every individual is raised to P50,000.00. There is no more distinction between single, married, and head of the family. Each is entitled to the P50,000.00 personal deduction.

Moreover, additional deduction for each dependent not to exceed four children is at P25,000.00 per child.

Also, minimum income earners are exempted from paying income tax. But of course, there are still requirements so that these minimum income earners will be exempt from tax.

These new tax measures are of great help especially to those minimum wage earners. At least, their take home pay won't be deducted with withholding taxes anymore... Thanks to our legislators!

May 2008 CPA Board Passers

I made a post listing the May 2008 CPA Board Exam Passers... But i didn't notice that I had a very bad copy of it... 'Twas because I didn't preview my post since I just made it in an internet cafe.. Anyway, I have deleted it already...

For a complete list, you can go to www.prcboardexamresults.com or www.mb.com.ph

(--,)

CPA Board Exam May 2008

The results are coming up in a few hours... Brace yourselves....

62nd PICPA Annual National Convention

The convention held at Baguio City last April 30 to May 4 was a blast. The best part, I would say, is the regional presentations bested by the Eastern Visayas Region who ranked first place in their rendition of "The Spirit of the 70's".. I really enjoyed it! And of course, I also enjoyed my stay in Baguio City.. I'll be posting pictures in my Travel Blog soon so just feel free to visit me there....

Meanwhile, I have changed my office address and I can now be found at The Pink Room, inside the The Law Firm of Cantos, Balucanag, Dureza, and Associates, Door No. 8, Veterans Federation of the Philippines Building. Tomas Monteverde Avenue, Davao City.... Telefax is 082-2251672... (--,)

Have you filed your GFFS?

GFFS is the acronym for general form for financial statements. It a requirement that must be submitted to the Securities and Exchange Commission on or before the 30th of April.

Few days left

So, what's with the picture? Uhmm.. Let's just say that I am not your typical auditor who goes to work in heavily starched suits...

I have a few days left, I will have resigned this 26th. I'm sure gonna miss a lot of traveling and client visits....

Whoops, I'm still busy with consolidating financial statements right now to catch up with the deadline on the 30th. But then again, I have an earlier deadline since I will be resigning, and of course, I would also be joining the 62nd PICPA Annual National Convention in Baguio City and my flight to Manila is already scheduled this coming 28th.. Hmmm.. still a lot of work to do.. it's ok.. After all, there's a set of good stress coming my way...

Audit Season is over

Audit Season is over.... Yey! But it's now time for consolidation and all that stuff for SEC submission on or before the 30th of April.. Whew! Another deadline fast approaching... Oh well, I have resigned already, effective April 26.. Yepey!!