SGV Cebu holds Expenditures Taxation seminar

SGV-Cebu-holds-Expenditures-Taxation-seminar
SGV Cebu conducted on 27 May “Expenditures Taxation: A Comprehensive Seminar to Achieve Tax Compliance in the Local Accounts Payable Process.” There were 52 participants from different industries and companies.

The seminar discussed taxation in a company’s local purchasing process. It provided the participants with updated information on the rules on expanded withholding tax (EWT), applicable EWT rates, updated rules in claiming input taxes – particularly compliance with the substantiation requirements — and the general rules on substantiation of local purchases claimed as deductions for income tax purposes.

SGV Cebu Partner-in-charge Cheryl Ong opened the seminar with a discussion on the local accounts payable process and its common issues. Tax Director Ethel Grengia-Nicdao and Associate Director Rosevi Rosete next discussed the rules on EWT and input VAT, respectively. Lastly, Associate Director Joel Conson gave a lecture on income tax deductions. The session ended with an open forum.

The seminar was organized by a core team composed of Giness Marie Rosales, Melissa Joyce To, Al Marvin Santos, Mipps Mardie Semillano, Karen Lou Sampayan, Vincent Cleo Caracuel, Jeremie Plaza, Rolaine Mary Basilio and Monica Canada.