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Security Bank Corp. said it held a business forum in collaboration with SyCip Gorres Velayo & Co. to assist clients in understanding the newest tax laws and rules and learn macroeconomic and foreign exchange trends.
Hosted at the Security Bank Centre in Makati City, the seminar featured lawyer Jules Riego, SGV tax principal, who explained the details of EOPT. Signed into law on Jan. 5, 2024, the EOPT Act introduced reforms to ease tax compliance with improved efficiency, reduced administrative hurdles and simplified tax withholding rules.Major changes under the implementation of the EOPT Act include the classification of taxpayers based on gross income level, the ability to file and pay anywhere and the issuance of a sales invoice in lieu of an official receipt .
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