KRM Accounting and Legal Services

27/11/2023

Trust Fund Doctrine and the right of the Creditors to maintain an action upon any unpaid subscriptions.

27/11/2023

The Doctrine of Piercing the Corporate Veil.

11/11/2023

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05/11/2023

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Definition and Attributes of a Corporation.

01/11/2023

Resignation or retirement does not bar the filing of a formal charge against an official or employee for acts or omissions while in office.

01/11/2023

The Principle of Limited Liability in Corporation Law.

03/10/2023

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29/09/2023

RR No. 33-2023, Reiteration of Section 3.J of RR No. 17-2003 on the Withholding of taxes for the Sale of Real Property on Installments.

“If the buyer is an INDIVIDUAL not engaged in trade or business, the following shall apply:

(i) If the sale is a sale of property on the installment plan (i.e. payments in the year of sale do not exceed 25% of the selling price), NO withholding tax is required to be made on the periodic installment payments. In such a case, the applicable rate of tax based on the gross selling price or fair market value of the property whichever is higher, shall be withheld on the last installment or installments immediately prior to such last installment, if the last installment is not sufficient to cover the tax due, to be paid to the seller until the tax is fully paid.

(ii) ###

However, if the buyer is engaged in trade or business, whether a corporation or otherwise, these rules shall apply:

(i) If the sale is a sale of property on the installment plan (i.e. payments in the year of sale do not exceed 25% of the selling price), the tax shall be deducted and withheld by the buyer from every installment which tax shall be based on the ratio of actual collection of the consideration against the agreed consideration appearing in tge Contract to Sell applied to the gross selling price or fair market value of the property at the time of the ex*****on of the Contract to Sell, whichever us higher. ###”

26/09/2023

SEC Update: SEC Memorandum Circular (MC) No. 16, series of 2023

Revised Guidelines on the Determination of Retained Earnings Available for Dividend Declaration

15/09/2023

RR 11-2023: Prescribing the use of EMAIL and ELECTRONIC SIGNATURES as an additional mode of service of the Warrant of Garnishment pursuant to Section 208 in relation to Section 244 of the National Internal Revenue Code of 1997, as amended.

10/09/2023