“BIR Compliance for VAT registered: Seminar-Workshop”

You may not have all what it takes to master accounting, but your accounting and tax knowledge is indispensable for your entrepreneurial success. For tax purposes, simple things may mean a lot and may become a material issue. Thus, this seminar-workshop is intended to educate participants in basic BIR compliance and avoid headaches dealing with the tax authorities.

Learning points:              

• Understand the basic minimum requirements of non-VAT registered taxpayers;

• Learn how to book keep your VAT registered service or trading corporate business;

• Learn what BIR returns should be filed based on the transactions;

• Learn how to fill-out BIR Returns and avoid being assessed based on erroneous entries;

•  Learn what to write and how to make entries on the books of accounts;

•  Learn how to prepare simple financial statements;

•  Learn and understand the financial figures of your business; and,

•  Understand the work of your regularly paid bookkeeper and reasonably estimate their retainer fees;

Outline:

1. Fully understand when VAT, when non-VAT;
2. Proper substantiation of income and expenses;
3. Proper substantiation of input VAT;
4. Minimum tax types for VAT entity;
5. BIR allowed books of accounts; and,
6. Comprehensive illustration;

a.       Recording on books of accounts;

                                                               i.      Cash receipts books

                                                             ii.      Cash disbursements books

                                                            iii.      General journal

                                                           iv.      General ledger

                                                             v.      Subsidiary purchases journal;

                                                           vi.      Subsidiary sales journal

b.      Preparing and filing VAT registered BIR returns;

                                                               i.      Annual Registration (BIR Form No. 0605)

                                                             ii.      Application for registration (BIR Form No. 1903 – Corp.)

                                                            iii.      Documentary stamp tax return (BIR Form No. 2000)

                                                           iv.      Expanded Withholding taxes (BIR Form 1601-E)

                                                             v.      Final Withholding taxes (BIR Form 1601-F)

                                                           vi.      Withholding tax on compensation (BIR Form 1601-C)

                                                          vii.      Certification of taxes withheld on compensation (BIR Form No. 2316)

                                                        viii.      Creditable withholding tax certificate (BIR Form No. 2307)

                                                           ix.      Quarterly income tax returns (BIR Form 1702Q)

                                                             x.      Annual income tax returns (BIR Form No. 1702)

                                                           xi.      Monthly value-added tax returns (BIR Form No. 2550M)

                                                          xii.      Quarterly value-added tax returns (BIR Form No. 2550Q)

c.       Preparing financial statements

d.      Closing books of accounts

Schedule:                9:00 a.m.-5:00 p.m. Deferred until further notice. Alternatively, we can
                                arrange for special group of at least two (2) participants for
                                P2,500/participant, or P2,000/participant for at least tree (3)
                                participants at their own venue.

Package:                Handouts/ Sample books of  Accounts/Various BIR Forms
                               Comprehensive illustration/ Seminar Certificate. Please bring
                               calculator.

Speaker:                Speaker is a Certified public Accountant (CPA) who has gained much professional experience being in the Tax Division of a medium-sized law office based in Makati for almost six (6) years now, and as a part-time professor in the College of Accountancy – Polytechnic University of The Philippines, Taguig for about four (4) years now handling basic accounting & taxation subjects.

Reservation:            At least P1,000 reservation fee to be deposited to BDO Savings
                                  Account  (Please contact us for bank details) & balance on
                                  seminar day. Please contact us for the details of deposit and 
                                             name of participant to complete registration.

For reservation and inquiries, please contact Jobelle @ (02) 348-2193 / 0922-856-2358 or send mail to taxacctg.tutorials@gmail.com.

 "Taxes affects lives, care for taxes and save lives."