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BIR assessments related to employee reimbursements Let's Talk Tax

With the ever-evolving world of commerce, employees have become more involved in everyday operations. For instance, employees would find themselves in inevitable circumstances where they would be the one to cover for business-related expenses out of their own pockets, such as transportation expenses or office supplies, then would later on reimburse such from their employers.

7 min read | 24 Oct 2023
The genuine opportunity to be heard: Due process in tax assessments Let's Talk Tax

Taxation is the lifeblood of government. As the age-old adage goes, the only certainties in life are death and taxes. The pivotal role of taxes cannot be emphasised enough as the nation focuses on recovering from the impacts of the COVID-19 pandemic.

5 min read | 17 Oct 2023
BIR audit: Common reconciliations on per books vs per tax returns Let's Talk Tax

As many taxpayers have recently received a Letter of Authority (LOA) from the Bureau of Internal Revenue (BIR), anxieties loom since normally, significant findings are initially identified and alleged in a BIR audit.

5 min read | 10 Oct 2023
VAT zero-rating for Registered Export Enterprises made easy Let's Talk Tax

The CREATE Act has radically changed the Value-Added Tax (VAT) landscape for Registered Export Enterprises (“REEs”) when the phrase “Directly and Exclusively Used” was first introduced.

6 min read | 03 Oct 2023
The peculiarities of taxing PEZA entities Let's Talk Tax

In my little over a year of experience as a tax professional, I have noted the peculiarities of the taxation of Philippine Economic Zone Authority (PEZA) registered businesses.

6 min read | 19 Sep 2023
Prescription period: A taxpayer’s defense Let's Talk Tax

As very well known to the taxpayers, the tax audits conducted by the Bureau of Internal Revenue (BIR) involve tedious and long process. Taxpayers dedicate plenty of time and effort in retrieving documents and presenting reconciliations to address the alleged BIR’s findings.

5 min read | 12 Sep 2023
Third party information and the tax assessment process Let's Talk Tax

The Bureau of Internal Revenue (BIR) is actively conducting audit of taxpayers. Recently, we have been seeing astronomical deficiency tax assessments from the BIR. One finding that the taxpayers always have trouble understanding is the deficiency assessment coming from third party information (TPI).

5 min read | 05 Sep 2023
The BIR and the Ease of Doing Business Act Let's Talk Tax

“Kaizen” is a Japanese term for continuous improvement. We often hear this phrase in business philosophies, and some, including me personally, consider this phrase a concept we live by.

5 min read | 22 Aug 2023
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