Basic Tax
Tax Biz
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Deadlines and Timelines
Famous Tax Peeps
100

How much is the current regular income tax rate for corporations?

25%

100

When was the effectivity of the new invoicing requirements under EOPT?

April 27, 2024

100

This is the tax withheld or deducted at the source of income by the payer or withholding agents and is directly remitted to the government on behalf of the taxpayers.

Withholding Tax

100

How many days are normally given to taxpayers to provide the requested documents in the checklist of requirements attached to the LOA?

10 days

100

Who is the current Philippine President?

Ferdinand Marcos Jr.

Bongbong Marcos

BBM

PBBM

200

What is the valid supporting document for the purchase of goods before EOPTA?

Invoice


200

This new law aims to simplify procedures and reduce taxpayer burdens while consequently boosting government revenue collection.

Ease of Paying Taxes Act

EOPTA

RA No. 11976

200

What return do I normally file on the 5th day following the end of month for any taxable documents that I have?

DST Return

BIR Form 2000

200

When is the filing deadline for Quarterly Withholding Tax returns for Q3 2024?

October 31, 2024

200

Who is the BIR Commissioner?

Romeo D. Lumagui Jr. 

Jun Lumagui

300

What BIR document grants authority to the BIR to examine the taxpayer’s books and records

Letter of Authority

LOA

300

This law was signed by PRRD last March 26, 2021 which aims to lower the current income tax rate from 30% to 25%.

CREATE Law

RA No. 11534

300

What comes after PAN?

FAN/FLD

300

GBGTC received a PAN for its 2021 VAT Audit. Within how many days should GBGTC respond to the BIR?

15 days

300

Aside from the taxpayer under audit and the signing Asst CIR or RDO. Who is/are usually indicated in the body of the LOA?

Handling BIR Examiner

Revenue Officers and Group Supervisor

400

True or False?

Tax exemptions are strictly construed against the government and liberally in favor to the taxpayer.

FALSE

400

When was EOPT Law signed?

January 5, 2024

400

This is a plea for re-evaluation of an existing assessment on the basis of existing records without the need for additional pieces of evidence.

Request for Reconsideration

400

After the Discussion of Discrepancy, within how many days will the BIR issue a PAN?

10 days

400

Who is the current head of the Tax Group of San Miguel Group?

Rogelio Lui

Sir Lui

500

SMFI sold frozen simple marinated chicken (salt and pepper only) at SM Supermarkets. How much is the VAT rate?

None

VAT Exempt

500

Yesterday, PBBM signed a new Law. What was this LAW?

Republic Act (RA) No. 12023

VAT on Digital Service Providers

500

The CIR denied my protest to the FAN/FLD and issued an FDDA. What will I do?

File a Petition for Review before the CTA

(Judicial Petition)

500

GFMI filed a Request for Reinvestigation for the FLD/FAN dated July 29, 2024, received by GFMI last August 8, 2024, last September 4, 2024. Within how many days should GFMI present additional evidence or documents to the BIR?

Within 60 days from September 4, 2024

or Until November 3, 2024

500

In case the BIR issued an FDDA and the audit proceeded to due process. Who has the ultimate power to provide the final decision on the case?

Supreme Court

CTA

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