Sense & Taxability
Sense & Taxability is the official knowledge publication of UHY M.L. Aguirre & Co., CPAs, dedicated to making Philippine taxation, accounting, auditing, and regulatory compliance more understandable and practical for businesses, professionals, and taxpayers.
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Latest Commentaries & Articles
When Related Party Transactions Trigger Disallowed Deductions
Transactions between related parties are a common feature of business operations. Companies often engage in dealings with shareholders, subsidiaries, affiliates, or other entities under common ownership for legitimate commercial purposes such as financing arrangements, operational support, or asset transfers within a corporate group. While these transactions may be valid from
QDMTT Explained: What the Global Minimum Tax Means for the Philippines and Foreign Investors
For many years, countries have attracted foreign investors by offering tax incentives such as income tax holidays, reduced tax rates, enhanced deductions, and other fiscal benefits. The Philippines has also used these incentives to encourage investment in manufacturing, business process outsourcing, export services, logistics, renewable energy, and other priority sectors.
Withheld for Good: Understanding Final Withholding Tax
The Final Withholding Tax (FWT) is an essential feature of the Philippine income tax framework under the National Internal Revenue Code of 1997 (NIRC) in Sections 57, 58, and 59, as amended and its implementing regulations are found in Revenue Regulations (RR) No. 11-2018, and RR 02-2020. It functions as
