Tax Paying Form BIR51/BIR52: Financial Statements for More or Less Than 12 Months – How To Complete The Financial Data?

Centre O INCORPORATION

So you have prepared the financial statements for a period of more or less than 12 months and are wondering how to complete the items of financial data? And whether the amounts should be apportioned or grossed up to show figures for a 12-month period? The answer is it is not necessary to apportion/gross up the figures. To complete the …

Tax Paying Form BIR51/BIR52: Changes in Company Ownership. Do they belong on the Tax Return?

Centre O INCORPORATION

Let’s say your company has changed from a partnership into a sole proprietorship. Should this change be reported in the Profits Tax Return? And here is what you should do: The profits/(loss) of the business for the full basis period of the year of change should be reported in the Profits Tax Return (BIR52) for the partnership file. In subsequent …

How To Choose The Right Flowers for The Right Occasions

Centre O INCORPORATION

We give flowers to each other for a number of reasons. They are traditional, fragrant and simply pretty. But I have to admit that sometimes I have a hard time figuring out what flowerd to get and what the flowers can say. It turns out that: Bright-coloured flowers are usually given for birthdays and anniversaries. Red colour (especially red roses) …

Best Business Books of 2013 (by Forbes)

Centre O INCORPORATION

2013 has officially left the building. But it has left us a lot of great things.  F. e. – The top 10 business books (as listed in a Forbes article of Dec 16th) The Billionaire and the Mechanic: How Larry Ellison and a Car Mechanic Teamed Up to Win Sailing’s Greatest Race, the America’s Cup, by Julian Guthrie. Brick by …

Happy New Year from centreo!

Centre O INCORPORATION

Dear Friends! The year of 2013  has been full od events, challenges, achievements and new projects for us. We hope that for you it has also brought new opportunities and that you feel proud of your accomplishments as the year is on its way. As for 2014, we wish you bold plans and all the resources you need to accomplish …

Tax Paying Form BIR51/BIR52: Tax Return For Dormant Companies. Is it necessary to prepare an audited financial statement?

Centre O INCORPORATION

So you may be wondering: if your company is dormant, is it necessary to prepare an audited financial statement before filing a tax return? Even if you are a dormant company, you still have to prepare audited financial statements in support of the return. You do not have to do the above, however, if you are a dormant company within …

HellO Centre O

Centre O INCORPORATION

Hi my name is Cathy, I am from Perth in Western Australia. I am a fresh university graduate who was seeking an opportunity to widen my business and marketing knowledge, Centre O has kindly taken me under their wing for an exciting winter internship. Upon arrival of my nervous first day I was greeted with warm welcomes, smiles and informed …

Tax Paying Form BIR51/BIR52: Using the same envelope to send correspondence for enquiries/claims and the tax return

Centre O INCORPORATION

The question is : Can you send correspondence for enquiries and tax return in the same envelope? No. Letters of enquiries/claims should not be sent together with the tax return unless it is an objection against an estimated assessment made in the absence of the tax return. Do not staple these letters to returns or bury them among financial statements …