Maniolas

The withholding tax on, and deductibility of, year-end bonuses to employees are issues that are frequently raised during tax examinations of a company’s books of accounts. Usually, these bonuses are accrued at yearend and deducted for income tax purposes in the year accrued, although the bonus is paid to the individual employee, and the withholding tax deducted and remitted to the Bureau of Internal Revenue (BIR), in the succeeding year. In these situations, the BIR usually questions and disallows the tax deduction claimed by the employer on the ground of non-withholding.

THE DEPARTMENT of Justice’s (DoJ) procurement panel has adjusted the auction timetable for the P50.2-billion regional prison facility to built through the public-private partnership (PPP) program, though it still sought to meet the original target for the start of construction.

As I was doing my groceries over the weekend, I realized that the two supermarkets on opposite ends of the mall had different business hours, one of them opening an hour earlier. Early birds like me prefer going to the one that opens earlier to avoid traffic and finish household chores as early as possible. These considerations are taken into account by businesses, including the supermarket that opens an hour earlier. An earlier opening time may attract more consumers like me, which results in increased profits and market share.

ILOILO CITY — Antique Governor Rhodora J. Cadiao said the resumption of the coal mining operations by Semirara Mining and Power Corp. (SMPC) in the town of Caluya fails to take into account the ongoing provincial investigation into a deadly open-pit accident two months ago.