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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
Estate tax amnesty: The extension, part II Let's Talk Tax

Thousands of Filipino families with unsettled estates revel as Republic Act No. (RA) 11956, which further amends RA 11213 or the Tax Amnesty Act, lapsed into law on August 5, 2023.

5 min read | 15 Aug 2023
Tax treaty application: A refresher course Let's Talk Tax

“They won’t fear it until they understand it. And they won’t understand it until they’ve used it.”—a quote in Christopher Nolan’s most recent masterpiece, Oppenheimer, which simply emphasizes the fear and/or power of knowledge, or its lack thereof.

7 min read | 08 Aug 2023
What to expect from BIR tax mapping Let's Talk Tax

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

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
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