PREVIOUSLY, third party information such as Reconciliation of Listing for Enforcement (RELIEF) and Bureau of Customs (BOC) data are generated only upon request of investigating offices conducting the tax audits.
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PREVIOUSLY, the Securities and Exchange Commission (SEC) issued Memorandum Circular No. 9-2011, prescribing a 10-year limit on independent directors in listed, public and mutual fund companies.
Guidelines in securing importers and broker's BIR clearances
To increase the audit coverage of Value Added Tax (VAT)-registered taxpayers and facilitate completion and reporting of cases under VAT Audit Program (VAP), the Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Order (RMO) No. 59-2016 expanding the coverage of VAT audit investigations and introducing issue-based audit under the VAP.