Taxation of Cooperatives

COOPERATIVES:: COOPERATIVES Tax Compliance Compliance & Exemptions Exempt ions CACODEC Trece Martires November 28, 2007

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“Learning through Quality Training”

Why are Coops special?

Coops are special because government wants to foster them as practical vehicles in promo promoting ting selfreliance and harnessing people towards attainment of economic development and justice.

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Why are Coops special?

Coops are special because government wants to foster them as practical vehicles in promo promoting ting selfreliance and harnessing people towards attainment of economic development and justice.

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Obstacles along the way •

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Ambiguous provisions of Revenue issuances affecting Coops Coops;; Varying interpretations of COOP of COOP Code provisionss vis-à provision vis-à-vis -vis the Tax Code; Deficiency Tax Asses Deficiency Assessments sments issued by BIR against Coops Coops;; Lack of a unified stand among Coops on how certain contentious issues. AIT


Objectives of seminar •

To review the tax exem exemption ption provisions of the Cooperative Code vis-à-vis the Tax Code and other BIR issuances;

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To clarify Coop problem areas and issues; and

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To review Coop compliance requir requirements. ements.

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Income Taxpayers Classification COOPs classified as: 1. Individuals receiving compensation income; 2. Business and professional income earners 2.1 individuals 2.2 corporations/associations 3. Passive Income Earners COOPs 4. Exempt Income Earners COOPs Note: COOPs with taxable income are also classified under No. 2. AIT


Business Taxpayers Classification COOPs classified as

Major groupings:

1. VAT TAXPAYERS 1.1 12% VAT tax taxpay payers ers 1.2 0% VAT tax taxpay payers ers

Electri Elec tricc COOPs

2. NONNON-V VAT TAX AXP PAYE YERS RS Othe Ot herr COOPs 2.2 Percentage taxpayers 2.3 Exe Exempt mpt tax taxpay payers ers (from VAT/% T/%T Tax)

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Presentation Outline 1) Exemptions of Coops 2) Taxes due from Coops 3) Taxability of Members, Employees, and Directors of Coops 4) Tax Compliance of Coops

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LEGAL BASES OF EXEMPTIONS 1. Articles 61 and 62 of the Cooperative Code of the Philippines (RA 6938) 2. Section 109 (L), (M),(N) of the National Internal Revenue Code (amended by RA 9337) 3. Sections 133 and 234 of the Local Government Code of 1991

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INTRODUCTION TO TAXATION

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IS IT A MATTER OF NATIONAL SURVIVAL? AIT


Income of GOCCS

Taxes Borrowings

Revenues

Debt Servicing

Social services

Administration INFRA Services Services AIT


EXISTING TAXES NATIONAL 

Income tax

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Estate tax

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Donors tax

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VAT

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Other percentage tax

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Excise tax

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Documentary stamp tax AIT


LOCAL Business tax is a tax on trade or commercial activity regularly engaged in as a means of livelihood or with a view to profit Fee is a charge fixed by law or ordinance for the regulation or inspection of a business.

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Charges refer to pecuniary liability, rent or fees against persons or property. Realty tax is a direct tax on the ownership of lands and buildings and other improvements thereon not specifically exempted and is payable regardless of whether the property is used or not.

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WHO IMPOSES WHAT TAXES? Provincial Government 

Transfer tax

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Printing and publication

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Sand, gravel and other quarry

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Professional tax

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Franchise fee

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Amusement tax

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Real property tax

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Delivery truck tax AIT


Municipal 

Fees

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Community tax

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Business tax

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Charges

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Barangay  

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Barangay clearance fee Billboards, signboard, non signs and outdoor advertisement fee charges

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EXEMPTIONS OF

COOPERATIVES

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TAX EXEMPTIONS OF

COOPs

Category: Transacting with Members only Exemption: seven (7) kinds of Internal Revenue Taxes Period of Exemption: Continuing (no 10-year limit) (RR 20-001 amending RMC 48-91) AIT


TAX EXEMPTIONS OF Coops Category: Transacting w/ members & non-members w/ P10M Reserves & < Exemptions: same as Coops dealing w/ members only Period of Exemption: same as Coops dealing members only (BIR Ruling ECCP-003-2006 dated March 30, 2006) (RR 20-001 amending RMC 48-91) AIT


TAX EXEMPTIONS of COOPs Category: Transacting w/ Members and nonmembers w/ over P10M Reserves Internal Revenue Taxes: Exempt on transactions with members and non-members within ten years, provided that at least 25% of the net income of the Coop is returned to the members. Period of Tax Exemption: After 10 years, to be taxed on business with nonmembers (BIR Ruling ECCP 003-2006 dated March 30, 2006) AIT


Exemptions of COOPs (NIRC) Internal Revenue Taxes 1. Income tax on income from operations; 2. VAT under Sec 109, NIRC except Electric Coops ; 3. 3% percentage tax under Sec 116 of NIRC; 4. Donor’s tax to duly accredited charitable/ research/educational inst &reinvestment to socio-eco projects w/in the area of COOPs; 5. Excise tax under Title VI of the NIRC; 6. DST (the party who is not exempt pays); 7. Registration fee of P500.00 AIT


Exemptions of COOPs (LGC of 1991) 1. Taxes, fees on Coops registered under Republic Act No. 6938. (Sec 133)

2. Real Property Tax on all real properties owned by duly registered cooperatives under RA 6938. (Sec 234)

CDA Memo Circular 93-005 BLGF Memo Circular 02-97 AIT


Sales by Agricultural Coops

Exempt from VAT under Section 109 (L) Conditions: 1. duly registered with CDA 2. in good standing with CDA

Noted: Agri-food products exempt from VAT but agri nonfood is now vatable. Section 109 (L) does not make any distinction between the two AIT


Importation of Agri Coops Exempted from VAT: •

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importation of direct inputs importation of machineries and equipment, including spare parts to be used directly and exclusively in the production and/or processing of their produce (Section 109L of the NIRC)

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Gross Receipts of Credit/Multi-Purpose Coops Exempt from VAT under Section 109 (M) Conditions: 1. duly registered with CDA 2. in good standing with CDA Note: RA 9337 deleted the phrase “whose lending operation is limited to members”. Impact: Coops exempt on transactions even for non-members.

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Sales by non-elec, non-agri, non-credit Coops Exempt from VAT under Section 109 (n) Conditions: 1. duly registered with CDA 2. in good standing with CDA 3. share capital contribution of each member does not exceed P15,000. (BIR Ruling DA-029-06 dated February 2, 2006) AIT


Exemption from EWT Coops that are exempt from income tax are consequently exempt from Expanded Withholding Tax. As Withholding Tax Agent however, they are not exempt from withholding and remitting the tax on their payment for goods and services that are subject to Expanded Withholding Tax. (BIR Ruling DA-029-06 dated February 2, 2006

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Exemption from VAT on Importation of machinery and Equipment

Conditions for exemption directly needed in operation of Coop’s primary purpose complies with the requirements of DOF-CDA Circular 1-90 •

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(BIR Ruling DA-029-06 dated Feb 2, 2006 )

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Exemption from DST on Member’s share certificate Coop member’s contribution, being entirely different in nature and in substance from corporate shares of stocks, is not subject to DST imposed under Section 174 of the NIRC. (BIR Ruling DA-591-2006 dated October 5, 2006) AIT


Gross Receipt of Electric Coops Income Tax : NEA-registered - Exempt w/in 30 years CDA-registered dealing w/ members – Exempt dealing w/ non-members – Exempt w/in 10 years on business with non-members Value-Added Tax : NEA and CDA registered - Subject to 12 % (BIR Ruling DA-384-2005 dated September 7, 2005) (BIR Ruling DA-108-2006 dated March 14, 2006 AIT


TAXES DUE FROM

COOPERATIVES

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COOPs regardless of classification shall be subject to: 1. 20% FT on interest income on Peso deposits 2. 7.5% FT on interest income on $ deposits 3. CGT on real properties/shares of stocks 4. DST on transactions COOPs dealing with non-members whose accumulated reserves and undivided net savings > P10M 5. VAT on purchases of goods and services

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Sale or exchanges of Real Property and Shares of stocks On sale of RP-capital assets: 6%CGT +1.5% DST on selling price or fair market value whichever is higher. On sale of shares of stocks: 5% on first P100,000 net gain 10% on the excess over P100,000 net gain

(BIR Ruling ECCP-003-2006) AIT


Business Activities of the Coops Other Not listed in the Articles of Cooperation. •

Income of Coops not related to the main/ principal business, subject to all taxes under the Tax Code of 1997.

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Applicable to all Coops, whether dealing with members or both members and non-members.

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Purchase of goods and services of COOPs All COOPs are liable to pay VAT on their purchase of goods and services because said tax is an indirect tax which can be passed on or shifted to the buyer. The COOPs are exempt only on their own transactions (i.e. sales, not purchases) (BIR Ruling 008-01; DA 029-06)

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Interest on bank deposits of COOPs All COOPs are liable to pay 20% FT on Peso deposits and 7.5% on Dollar deposits. (BIR Ruling 008-01; DA 029-06, etc.)

However, interest on bank deposits of Cooperative Employees’ Retirement Plan is exempt from FT. (BIR Ruling DA 259 dated April 12, 2006)

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12% VAT on Electric COOPs

All electric COOPs, whether CDA or NEA-registered are liable to pay the 12% Value Added Tax. VAT exemption repealed by RA 9337 effective November 1, 2005.

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TAXABILITY of Members, Employees and Directors of COOPERATIVES

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The exemption of the cooperatives does not extend to the individual members. (BIR Ruling ECCP-003-2006 dated March 30, 2006) AIT


Net Surplus distributed to members (Patronage Refunds) •

Not Subject to Income Tax

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Not subject to VAT

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No need to declare in ITR (BIR Ruling DA 075-05, dated March 9, 2005) AIT


Net Surplus Distributed to Members (Interest on member’s share capital) •

Subject to Income Tax

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Not Subject to Withholding Tax

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Not subject to VAT

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To be declared in Income Tax Return (BIR Ruling DA 075-05, dated March 9, 2005) AIT


Interest on deposits

Considered as income subject to income tax. Include in other taxable income in the income tax return. (BIR Ruling DA-591-2006 dated October 5, 2006)

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Dumaguete Cathedral Credit Coop vs CIR , CTA case no. 6827, 2/6/07 

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The CA held that cooperatives are liable to withhold the 20% final withholding tax on interest income of savings and time deposits of its members. The Tax Code of 1997 imposes the final withholding tax on interest from any currency bank deposit and yield or any other monetary benefit from deposit substitutes and from trust funds and “similar arrangements”. CTA held that savings and time deposits made to cooperative fall under the phrase “similar arrangements” as provided for under the Tax Code. AIT


Advances of Owner-members

Considered as Payables. Not Income of the Owner-Members. Not subject to income tax. (BIR Ruling DA 029-2006, dated Feb 02, 2006) AIT


Compensation Income Working for just one cooperative-employer with annual compensation income: •

Subject to income tax

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Subject to withholding tax

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Need not file income tax return

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Substituted filing applies

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BIR Form 2316 serves as substituted return Provided income tax due = tax withheld (RR 2-98, Sec 2.83.4) AIT


Compensation Income Annual compensation income of P60,000 (P5,000 or less per month) or minimum wage, whichever is higher: •

Not Subject to withholding tax

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Subject to income tax

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Substituted filing (SF) does not apply (can be waived)

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Need to file income tax return (need not, if SF)

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Employee need to sign waiver for withholding if he wants to be under SF. (RR 2-1998 and RR 1-2006) AIT


Compensation Income Required to file, regardless of amount: 1. Deriving compensation from two or more employer 2. Deriving income from both compensation and business/profession 3. Deriving compensation while spouse has income from business/profession 4. In case of married individual where one spouse received compensation income exceeding P60,000 5. If income tax withheld is not equal tax due AIT


Compensation Income De Minimis Benefits (Not taxable) 1. Medical cash allowance to dependents of employees - P750.00/employee per semester or P125/month; 2. Rice subsidy - P1,000/month or one sack of 50-kg rice/month worth P1,000; 3. Uniform and clothing allowance - P3,000/year; 4. Actual yearly medical benefits - P10,000/year; 5. Laundry allowance not exceeding P300/month ; (RR 10-2000, Section 1)

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Compensation Income De Minimis Benefits (Not taxable) 6. Employees achievement awards - P10,000/year; 7. Xmas/Major anniversary celebrations – P5,000/year; 8. Flowers, fruits, books, or other similar items (for illness, marriage, birth of a baby, etc.); 9. Daily meal allowance for overtime work - 25% of basic minimum wage; and 10. Monetized unused vacation leave credits - not exceeding 10 days /year.

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Compensation Income Not Taxable: aggregate of P30,000 and below 1. 2. 3. 4. 5. 6.

13th month pay 14th month pay Mid-year bonus X’mas bonus Productivity incentives Loyalty award (RR 8-2000 dated August 21, 2000)

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Director’s Fees If the director is an employee of the coop: considered as compensation income If the director is not an employee of the coop: treated as professional income subject to creditable withholding tax.

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EXPANDED SENIOR CITIZENS (SC) ACT (RR 4-2006 as amended by RR 1-2007) AIT


Compensation income of a SC 1. Gross compensation above the poverty level as determined by NEDA per year (over P60,000)subject to income tax 2. Gross compensation is within poverty level as determined by NEDA per year (P60,000 and below) - not subject to income tax

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Business Income of a SC 1. Gross Business Income above the poverty level as determined by NEDA per year (over P60,000)subject to income tax 2. Gross Business Income is within poverty level as determined by NEDA per year (P60,000 and below) – not subject to income tax

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Mixed Income of a SC Annual Taxable Income of a SC refers to the annual gross compensation, business and other income received by the SC during the taxable year from all sources as defined in Sec. 31 of NIRC of 1997. The same rule in the previous slides applies.

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Requirements for exemption of SC 1. File for tax exemption with the RDO where the SC resides; 2.Submit his/her OSCA ID; and 3. File an annual information return.

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Benefits of a benefactor of of a SC A taxpayer-benefactor of a SC is considered as Head of Family, provided that: 1. The SC’s income does not exceed poverty level;

2. The SC must be living with & dependent upon his benefactor for his chief support; and 3. The benefactor must register the SC as his dependent with the RDO where both reside. AIT


Benefit of having a SC-employe An employer of a SC is entitled to additional deductions from their gross income equal 15% of the total amount of the salaries and wages paid, provided that: 1. The employment shall be continuous for for a period of at least six (6) months; and 2. The annual taxable income of the SC does not exceed the poverty level set by NEDA. AIT


Senior Citizens Privileges (RR 1-2007) Deleted the TIN requirement under Sec 8(5) of RR 4-2006 in order that establishments may claim the sales discount as deductions from gross income

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Senior Citizens Privileges (RR 1-2007)

Added Section 10 to RR 4-2006, clarifying that the basis of the VAT is the selling price net of the 20% discount.

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Basis of Computation of VAT on sale to Senior Citizens Amount of sale (without VAT) Less: 20% sales discount Vatable sale

P100.00 20.00 P 80.00

Plus: 12% VAT (based on P80)

9.60

Total amount to be paid by SC

P 89.60

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TAX COMPLIANCE REQUIREMENTS OF OF COOPERATIVES

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REGISTRATION OF COOPERATIVES

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1.

WITH CDA

2.

WITH LGU

3.

WITH BIR


When to register more than once? 1. Establishment of a new branch 2. Establishment of a storage place 3. Establishment of place of production 4. Engaging in different business activity

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What to register with BIR? 1. The Coop’s head office, branch or facility 2. Type of tax the Coop is required to pay 3. Books of accounts 4. Sales Invoices and Official Receipts 5. Register as a Withholding Tax Agent

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Effect of failure to register with BIR 1. The Coop will be subject to penalty for failure to register under RMO 9-2006; 2. The Coop cannot print Invoices and official receipts and that will mean more penalties; and 3. The Coop’s request for CTE cannot be processed. AIT


CERTIFICATE OF TAX EXEMPTION Procedure in securing a CTE: A. Submit application for CTE to the Legal Division, RO through the RDO having jurisdiction over the principal place of business of the Coop. B. Attach the ff documents to the letter: 1. Certified true copy of: a. Art of Cooperation and By Laws b. Cert of Registration with CDA 2. Original copy of Cert of Good Standing AIT


CERTIFICATE OF TAX EXEMPTION 3. Cert under oath by Chairperson/Manager a. Whether the Coop is dealing with members or w/ both members/non-members; b. Amount of accumulated reserve fund and undivided net savings; c. At least 25% of the NS is returned to members in the form of interest and/or patronage refund; d. List of members and share contribution of each member. 4. Latest FS duly audited by an independent CPA AIT


Effect of Coop’s failure to secure a CTE A Coop filed for request for CTE in 1999 but was not acted upon by the BIR; in 2005 it reapplied for exemption but never received communication from BIR. It was ruled that effective date of tax exemption is from August 11, 1999, date of approval of the Coop’s Registration Certificate. Note: With application filed – exemption applies Without application – ROs assess Coops (BIR Ruling ECCP-003-06 dated March 30, 2006) AIT


CERTIFICATE OF Good Standing

A very important document: *needed in securing CTE *requirement for VAT exemption

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CERTIFICATE OF Good Standing Requirements: 1. Application letter signed by chairman or reps; 2. AR together with audited FS; 3. Copy of Bond of accountable officer; 4. Minutes of latest general assembly; 5. Certification under oath re SCA requirements; 6. Certification of no pending case with CDA; 7. Information sheet duly accomplished; and 8. Certification fee of Php200.00 Note: New COOPs are exempt from 1-6 AIT


Annual Information Return File Annual Information Return Not required to File Income tax Return Use Form 1702 version (Exempt portion)

(BIR Ruling DA 029-2006 dated Feb 02, 2006) AIT


Annual Information Return To be submitted on or before 15 th day of the 4 th month after EOY Attach Profit and Loss Statement/Balance Sheet Certificate that there has been no change in the ByLaws, Art of Cooperation, activities, sources and disposition of income Attach Copy of the letter of exemption/ruling Attach Original Certificate of Good Standing. AIT


Books of Accounts and other Records

Subject to audit periodically by BIR Revenue Officers

(BIR Ruling DA 029-2006, dated Feb 02, 2006) AIT


Accreditation of Tax Practitioners

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Accreditation of Tax Practitioners (RR 11-2006) requires that certain official statements (returns, financial statements, reports, protests, request for ruling, official correspondence and other statements) filed in behalf of a taxpayer, be signed or certified to by BIR accredited persons.

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REVENUE REGULATIONS NO. 7 - 2007 Additional procedural and/or Documentary requirements in connection with the preparation and submission of financial statements accompanying the Tax Returns.

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Contents and Format of Financial Statements to be Attached to the Annual Income Tax Return or Information Return The account titles to be used must be specific and not control accounts which must be completely enumerated in the financial statements must conform to the basic framework of the financial reporting standards promulgated by the Financial Reporting Standards Council (FRSC) of the Philippines which are the generally accepted accounting principles in the Philippines which include the Philippine Accounting Standards and the Philippine Financial Reporting Standards and the refinements introduced thereon in respect to the different industries as well as to the rules and requirements of regulatory agencies that have supervision over them such as SEC, BSP, IC and CDA. AIT


The Profit and Loss Statement shall show separately by segment with breakdown of the specific accounts, the following: 1. Sales/Revenues 2. Cost of Sales/Services 3. Selling and Administrative Expenses 4. Financial expenses, if any. 5. Other income 6. Other Expenses (Note: Items 1,4, 5 and 6 should be fully explained in the Notes to Financial Statements; items 2 and 3 should be supported by schedules)

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COVERAGE:

The Financial statements shall be composed of the following 1. Balance sheet 2. Statement of Income 3. Statement of Changes in Equity 4. Statement of Cash Flows 5. Notes comprising a summary of significant accounting policies & other explanatory notes 6. Schedules

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COOPs as Withholding Tax Agents What are to be withheld? 1) Withholding tax on compensation 2) Expanded Withholding tax on certain income payments 3) Final Withholding tax on certain passive income 4) Fringe Benefit Tax

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Withholding Tax After withholding, you remit to BIR: 1) Withholding tax on compensation (10th day after EOM using 1601C) 2) Expanded Withholding tax on certain income payments (10th day after EOM using 1601E) 3) Final Withholding tax on certain passive income (10th day after EOM using 1601F) 4) Fringe Benefit Tax (25th day after the end of the quarter) AIT


Revenue Memorandum Circular No. 39-2007 Clarifying the income tax and VAT Treatment of agency fees/gross receipts of security agencies including the withholding of taxes due thereon.

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Withholding tax compliance Contract Price 

The agency fee

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The security guard’s salaries

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Withholding tax compliance Insofar as the agency fee is concerned, the Client is constituted as the withholding agent of the EWT. With respect to the portion of the Contract price representing the amount segregated and earmarked as salaries of the security guards, the security agency shall be the one responsible for the withholding of the tax on compensation income. AIT


Withholding tax compliance However in order to comply with the requirement for deductibility, the Security Agency must furnish its client, on or before January 31 of the year following the year of withholding, a notarized certification indicating the names of the guards employed by the client, their respective TINs, the amount of their salaries and the amount of tax withheld from each. This certification together with the covering receipt must be kept on the file by the Client as substantiation for the claim of the expense. AIT


Withholding Tax For remittances of expanded withholding tax, attach: MAP – Monthly alpha list of payees COOP gives the payee Form 2307 (certificate of creditable income tax withheld) Payee-income earner attach the Form 2307 to the SAWT and the ITR. SAWT – Summary alpha list of withholding agents of income payments subjected to withholding tax AIT


Withholding Tax How to file the MAP BY COOPs:/SAWT: 1) Hard copies – 10 or less payees/WAs 2) Floppy Diskette – over 10 payees/Was 3) E-filing – for taxpayers under EFPS SAWT is filed in the same manner ONLY BY COOPs that are subject to income tax in cases where certain income were subjected to Expanded Withholding Tax. AIT


COOP employees Need not file income tax return, if qualified for substituted filing. Note: 1. COOP withholds and remits correct income tax from employees 2. COOP issues BIR Form 2316 to employee as the substituted return. 3. COOP files the annual information return BIR Form 1604-CF.

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COOP employees Conditions for substituted filing: 1. employee receives compensation income, regardless of amount during the year 2. employee receives income from just one employer 3. the amount tax withheld equals tax due 4. the employee’s spouse also complies with the above AIT


RMO 19-2007 Consolidated Revised Schedules of Compromise penalties for violations of the NIRC

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Common Violations of Cooperatives 

Failure to Register Compromise is P 2,000 to 20,000 depending upon the location of the cooperative.

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Failure to pay and display the annual registration fee (BIR Form No. 0605) No Certificate of Registration Displayed Failure to display the poster “Ask for BIR receipt” or “Notice to the public to demand receipts/invoice” Compromise for each violation of the above is P 1,000

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Failure to keep/preserve records required by law or regulations Compromise is P 200 to P 50,000 based on the annual gross sales, earnings or receipt

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Failure to make, file/submit any return or supply correct information at the time or times required by law or regulation. P 2,000 to P 25,000 based on gross sales, receipts or earnings.

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Failure to withhold or remit withheld taxes at the time or times required by law or regulations P 200 to P 25,000 based on the amount of tax not withheld or remitted

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Failure to have books of accounts audited and have the financial statements attached to the income tax return certified by an independent CPA duly accredited by the BIR. P 2,000 to P 25,000 based on gross sales, receipts or earnings.

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Updates: REPUBLIC ACT NO. 9480 AN ACT ENHANCING REVENUE ADMINISTRATION AND COLLECTION GRANTING AN AMNESTY ON ALL UNPAID INTERNAL REVENUE TAXES IMPOSED BY THE NATIONAL GOVERNMENT FOR TAXABLE YEAR 2005 AND PRIOR YEARS

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Department Order No. 29-07 (August 15, 2007) Rules and Regulations to Implement Republic Act No. 9480

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Who may Avail of Tax Amnesty 

Individuals, whether resident or nonresident citizens;

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Estates and trusts;

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Corporations;

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Cooperatives and tax exempt entities that have become taxable as of December 31, 2005; Other juridical entities including partnerships

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Exceptions: 

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Withholding agents with respect to their withholding tax liabilities Those with pending cases falling under the jurisdiction of the PCGG Those with pending cases involving unexplained or unlawfully acquired wealth revenue or income under the Anti Graft and Corrupt Practices Act

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Exceptions…con’t 

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Those with pending cases filed in court involving violation of the Anti-Money Laundering Law; Those with pending criminal cases filed in court or in the Department of Justice for tax evasion and other criminal offenses under Chapter II of Title X of the national Internal Revenue Code of 1997, as amended

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Exceptions…con’t 

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Those with pending criminal cases filed in court for felonies of frauds, illegal exactions and transactions, and malversation of public funds and property under Chapters III and IV of Title of the Revised Penal Code; and Tax cases subject of final and executory judgment by courts. courts.

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COMPLIANCE TESTING

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CAVITE,

GAME K N B? Duly registered with CDA?

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DEAL OR NO DEAL ?

Certificate of Good Standing

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R U IN OR OUT? Registration with BIR TIN Registration Certificate Books of Accounts Commercial Invoices Withholding taxes Annual information form (1702 AIF) Posting requirements • • • • • • •

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WANNA PUSH YOUR LUCK?

Certificate of Tax Exemption

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Taxation of Cooperatives

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