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What to expect from BIR tax mapping
Let's Talk Tax What to expect from BIR tax mapping
Surprises are often something most of us want for our birthdays, anniversaries, retirements, etc. However, as taxpayers, would you still be delighted to receive a “surprise” if it’s from the BIR, and if it’s in the form of a visit to check your tax compliances? This “surprise” visit is called BIR Tax Mapping/Tax Compliance Verification Drive (TCVD).
7 min read | 01 Aug 2023
Importance of valid substituted service of assessment notice
Let's Talk Tax Importance of valid substituted service of assessment notice
In a recently decided case by the Supreme Court (SC), G.R. No 223767 dated April 24 2023, the Chief Justice ruled that the taxing authority must comply with the requirements of a valid substituted service even with the existence of a central receiving station inside the taxpayer’s registered address.
7 min read | 18 Jul 2023
The warrant of distraint and/or levy
Let's Talk Tax The warrant of distraint and/or levy
Bureau of Internal Revenue (BIR) audits have been proven to be tedious and rigorous tasks for taxpayers. From the moment the Letter of Authority (LOA) is received, with the back and forth between the submission of documents and the presentation of reconciliations, up to the final settlement of the issues.
6 min read | 11 Jul 2023
Simplified requirements and policies for VAT refund applications
Let's Talk Tax Simplified requirements and policies for VAT refund applications
Value-added tax (VAT) refund administration presents many challenges. Taxpayers often face frustration due to inefficient procedures and strict requirements even for legitimate refund claims.
7 min read | 04 Jul 2023
The difference one letter can make
Let's Talk Tax The difference one letter can make
One of the letters that taxpayers (lectiophile or not) dread receiving is a Letter of Authority (LoA). This is the official document that authorizes the BIR to examine and scrutinize a taxpayer’s books of accounts and other accounting records to check and determine the taxpayer’s tax compliance.
6 min read | 20 Jun 2023
With great power comes great responsibility
Let's Talk Tax With great power comes great responsibility
The Bureau provided several issuances setting less strict regulations compared to the previous requirements. Here are the various updates on Value-added Tax (VAT) regulations issued by the BIR this year, giving more power to taxpayers and concerned agencies.
7 min read | 13 Jun 2023
Strengthening tax awareness
Let's Talk Tax Strengthening tax awareness
Taxes have been around for thousands of years even in biblical times; and will continue to coexist in our civilization. Indeed, paying taxes is a burden we must accommodate and learn to live with. After all, taxes are collected for the welfare of the people.
4 min read | 06 Jun 2023
A taxpayer’s right to receive notice of assessment
Let's Talk Tax A taxpayer’s right to receive notice of assessment
In tax assessment cases, many taxpayers may be unaware of their basic rights. As part of due process, this article will briefly discuss one of the substantive requirements in assessment cases — The Notice of Informal Conference (NIC) or Notice of Discrepancy (NOD).
5 min read | 23 May 2023
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