SGV Cebu holds comprehensive VAT seminar and workshop

SGV Cebu held a comprehensive seminar and workshop on VAT last 30 September 2015, at the SGV Cebu conference hall. Forty-six participants from various industries and companies attended the seminar/workshop.

The seminar/workshop aimed to comprehensively discuss VAT, including withholding VAT and recent Bureau of Internal Revenue (BIR) rulings and court pronouncements. Moreover, the participants were given hands-on practice in preparing VAT declarations and returns.

The workshop was divided into two parts. SGV Tax Partner Sonia Segovia discussed the nature of VAT, underlying laws and transactions. She was followed by SGV Director Ethel Grengia-Nicdao, who facilitated a discussion that encompassed input VAT, preparation of VAT return, computation guidelines and administrative requirements.

The VAT seminar/workshop provided the participants with the basic information that they will need to comply with the VAT computational requirements of the tax authorities. SGV Cebu plans to conduct more seminars/workshop on taxation to disseminate knowledge on tax fundamentals and updates.