Financial Opportunities and Rewards from Taxation

In this video, ETM discussed the malicious act of several RDOs who posted as your Friend by way of assisting and informing you what to do or not to do when it comes to 2019 Tax Amnesty, the solutions and actions that you must undertake in order not to be a victim of GOOD COP, BAD COP approach of several Revenue Officers, Group Supervisors, Assistant Revenue District Officers and RDO, the demarcation line between a taxpayer and the BIR, how to use Republic Act 11032 to your advantage, how to be a co-producer of ETM's livestreaming events, how to avail self and friends FREE 2019 Tax Amnesty on Delinquencies or 2019 Estate Tax Amnesty and later on, be an ETM's Tax Assistant, Franchisee, Licensor or Business Partner, use or RMO 53-2010 and many more... You are invited to attend his INTRO TO TX ACCOUNTING so that you may avoid the repeat of no-entry BOOKS of accounts this year. Thanks for watching
Online Live Program: TAX SPECIALISTA ONLINE UNIVERSITY
Tagline; Making Tax Opportunities Accessible"
Time: Starts 7am from Monday to Friday
Venue: Kataxpayer Facebook and EmelinoTMaestro YouTube Channel

CONTACT DETAILS:
1. EmelinoTMaestro.com
2. 0917(307)1316
3. 0917(307)1356
4. 0908(880)7568
5. 0939(905)2638
6. DonateMoreNow@gmail.com

HOW TO DONATE TO NEGOSYO MUNA. PUHUNAN LATER: Business Opportunity Project
Please click this link "https://taxspecialista.blogspot.com/2019/02/donatemorenow-emelinotmaestro-negosyo.html"

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Today's business and tax environment is increasingly complex, there are more and more demands for transparency, tax departments are under pressure to be more effective and highly qualified professionals can be hard to obtain.

To help you respond to these demands, we provide assistance in three key areas:

Tax accounting: supporting quarterly and annual tax provision calculations, validating tax balance sheet accounts and implementing new accounting standards under IFRS and/or local GAAP
Tax function performance: improving operating strategy and organization design, tax process and controls, and data and systems effectiveness
Tax risk: identifying and prioritizing key risks and assisting with controls monitoring and remediation
The scope and nature of our services may differ depending on whether you are an auditor non-audit client. What's consistent is the high-quality service our professionals provide to address your unique needs, throughout the entire tax life cycle of planning, provision, compliance and working with the tax authorities.

Our talented people, consistent global methodologies and tools and unwavering commitment to quality service will help you build strong compliance and reporting foundations, sustainable organizational strategies and effective risk management protocols, helping your business achieve its potential.And yet, this is one area where finance, accounting or tax professionals generally find difficulty in applying appropriate concepts and principles.

As a result, companies which fail to consider deferred tax items in their interim management reports are often caught by surprise once these items are taken into account at yearend.

Accounting for deferred income tax has been around since the mid-1990s. Prior to 2005, it was relatively simple to apply because accounting used to be based on a profit-and-loss approach. Under that approach, deferred tax was to be recognized whenever a transaction affected accounting income but not taxable income or vice-versa (referred to as timing difference).

Transactions which did not affect the taxable income were automatically ignored for deferred tax purposes (referred to as permanent difference).

In 2005, the transition to Philippine Financial Reporting Standards (PFRS) brought about concurrent adoption of Philippine Accounting Standard (PAS) 12, Income Taxes.

PAS 12 advocated a balance sheet approach, the objective of which was to recognize the future tax consequences of events already recognized in financial statements or tax returns through the setup of deferred tax asset or liability.

Deferred tax asset or liability is calculated as the tax rate multiplied by the temporary difference — i.e., the difference between the accounting base of an asset or liability (amount reflected in the accounting balance sheet) and the tax base (amount reflected in a notional tax balance sheet).

But deferred tax involves more than just a mathematical calculation. Rather, it is an area where significant judgment is required.