Be updated on our latest insights

For a long time now, recovering from a loss as massive as being denied of their right to claim a refund for the creditable input value-added tax (VAT) they paid has been a key issue for diligent taxpayers. This issue remains a conundrum that is worthy of review and clarification every now and then. With the rise of VAT refunds denied because of technicalities, taxpayers are now keen on seeking justice with their own hands. Thus, a loss of a loss — i.e., when denied a claim, which is a significant loss on their part, taxpayers are convinced they can deduct the same as a loss.

The holidays are upon us! Homes, offices, shopping centers, and places of worship are adorned with sparkling decorations.

It’s that time of the year again —twenty-six days before Christmas. Every year, I look forward to the holiday season — when we have to decorate our houses, set up Christmas trees, hang lights around the house, and buy gifts for our loved ones. We prepare the long list of family members, friends, godsons, and goddaughters, so no one will be forgotten. As early as now, many, of us have been preparing for the upcoming holidays.

What a great Christmas gift we (the Filipino people) received last month. After 154 days, the Marawi siege is over. Salute to all our selfless soldiers in bringing back peace in the southern island of Mindanao.

In one of the seminars I attended, a participant asked about the seemingly unbridled right of the Bureau of Internal Revenue (BIR) to assess and collect internal revenue taxes.

Recently, I had a meeting with a client regarding pending tax assessments. He was flying in from his office in another Asian country and had scheduled his quarterly meeting with me so we can discuss various tax issues.

Can you imagine an Information Technology (IT) company using manual books of account?

“The scene of this world is changing. I can’t live in the past. Please help me to keep running because we’re moving fast…”