Free Legal Advice Philippines

Disclaimer: This web site is designed for general information only and does not create attorney-client relationship. Persons accessing this site are encouraged to seek independent counsel for legal advice regarding their individual legal issues.

Log in

I forgot my password




You are not connected. Please login or register

Owners Drawing

View previous topic View next topic Go down  Message [Page 1 of 1]

1 Owners Drawing on Thu Jul 13, 2017 6:09 pm

bb8


Arresto Menor
Hi,

I have a on going process of closing my partnership business. Here is the situation, we did not record in our books of accounts that we part every income since the two of us who only manage it and we do not have employee, it's only the two of us who operate the business, but in reality we part it in half. Now that we are going to close will there be a problem with bir based on the situation?

Regards

View user profile

2 Re: Owners Drawing on Thu Jul 13, 2017 6:36 pm

xtianjames


Reclusion Perpetua
you mean to say you have a business but in BIR's eyes your business is not making any income since both of you are splitting the earnings? yes definitely you will have issues with BIR.

View user profile

3 Re: Owners Drawing on Fri Jul 14, 2017 8:16 pm

bb8


Arresto Menor
Our business is making income and we are filling our taxes every month, the only thing we did not record to our books is when we split earnings

View user profile

Sponsored content


View previous topic View next topic Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum