Cebu hosts year-end public seminar

SGV Cebu held a public tax seminar titled Year-End Procedures and Requirements: Are you ready for it? last 22 November at the Cebu City Sports Club. The seminar aimed to update and prepare participants on year-end tax procedures and requirements in compliance with various regulations.

GCR Senior Director Fatma Aleah A. Datukon discussed potential issues in the preparation of different year-end tax filing and administrative requirements, which include the identification of the year-end adjustments and reconciling items in computing current income tax expense and compliance with tax-related financial statement disclosures. Year-end returns, attachments and reconciliation procedures for expanded withholding tax, value-added tax, withholding tax on wages and final withholding tax were also explained in the afternoon session of the seminar.

Participants in the year-end procedures and requirements seminar

The SGV GCR team then presented simulated computations on the application of the year-end reconciliation procedures and related allowable deductions, along with several tax cases, BIR Rulings and other recent BIR issuances. These helped participants apply the related theories discussed. The session concluded with an open forum.

Participants were from various industries and sectors in Metro Cebu and other parts of Central Visayas. The seminar was organized by the SGV Cebu GCR team under the leadership of SGV Cebu GCR Partner Saha A. Bulagsak (SAB), Associate Director Arleen Glaze Acha and Senior Associate Jonah Marie Enerlas.