This blog has lately been bombarded with the request for a copy of the solutions manual of the reviewer book of Atty. Conrado Valix on Financial Accounting. I have confirmed that the commenter, Maria Luz, is offering a copy of the answer keys FOR A FEE.
This site is not a market place, and I don’t think I can allow that to happen. All comments requesting for the manual will now be deleted, and future comments ignored. All comments that are clearly out of topic will find themselves in the trash.
So everybody is requested to refrain from posting comments regarding the solution manual.
At long last, the BIR has issued the final IRR (Implementing Rules and Regulations) of Republic Act No. 9504, an Act Amending Sections 22, 24, 34,35, 51 and 79 of Republic Act no. 8424. It’a available for download from the BIR website. Thanks to Nora for the heads up.
For sure, a lot of people who have long been waiting for this release will deluge in the website and may bring their server down. I already downloaded a copy (including annexes) and compiled them myself.
Is this really what RA 9504 intended — to create and encourage absurd situations? Can’t the BIR, at least, read the real intent of RA 9504 and help promote social justice by saying that any income received by a worker over and above the minimum wage, to the extent that the tax distortion is eliminated and the take home pay is equalized, be still exempt from taxes as a MWE?
It may be difficult to justify such move, considering that the flaw is in the law itself. But the BIR was able to do it in certain instances in the past.
With these good, pertinent, and timely articles from an accounting firm website, P&A would have better hosted a discussion by offering comments or provided a forum. It would have been a good discussion, instead of just a lone standing article.
Disclaimer: The article that follow is my personal opinion, intended for discussion purposes only. It should not be construed as official opinion or regulation by any governmental agency that has authority over the matter.
Found this in my inbox:
Remy:
Can you help me understand what is the maximum amount of de minimis that could be extended to employees? What are other tax deductions can an employee have?
Thanks.
The National Internal Revenue Code of 1997 only mentions of De Minimis Benefits as one of the fringe benefits that are not taxable (Section 33.C). No definition whatsoever. As such, no explicit amount was provided for in the law.
Attah-K: I also need to know the differences between the IFRS and IAS, for an assignment.
Terrence: I would like to join plz invite me asap my psn id is :lilkilla445 and my preferred team is the dallas mavericks
Oliver: Here is the Luminotes Community Google Group: http://groups.google.com/group /luminotes-community
Oliver: “I have a backup copy” Oh thank-you thank-you thank-you thank-you thank-you thank-you thank-you … Luminotes is pretty unique. Another user and I are thinking about putting...
