Professionalism. Integrity. Excellence. |
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RS Gallardo Law Office (RSG Law) is a general professional partnership of lawyers whose expertise are in tax and commercial law. Together with their associates and staff, RSG Law is actively emerging as a firm with a strong sense of professionalism, integrity and excellence in carrying out its services.
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SERVICES
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TAX UPDATESREVENUE REGULATIONS NO. 6-2018 issued on January 19, 2018 revokes Revenue Regulations (RR) No. 12-2013 relative to the requirements for deductibility of certain expenses, thereby reinstating the provisions of Sec. 2.58.5 of RR No. 14-2002, as amended by RR No. 17-2003. Any income payment which is otherwise deductible under the Tax Code shall be allowed as a deduction from the payor’s gross income only if it is shown that the income tax required to be withheld has been paid to the Bureau in accordance with Secs. 57 and 58 of the Tax Code. [Digest]
REVENUE MEMORANDUM CIRCULAR NO. 1-2018 issued on January 5, 2018 prescribes the procedures on the use of Withholding Tax Table on Compensation Income and advises on the change of Creditable Withholding Tax Rate on certain income payments to individuals. Every employer paying compensation to its employee/s shall deduct and withhold from such compensation a tax determined in accordance with the prescribed Revised Withholding Tax Tables. Moreover, income payments to self-employed individuals or professionals shall be subject to 8% Creditable Withholding Tax. [Digest] [WT Table] |