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Tax rules seem to be constantly changing. Unless the taxpayer regularly looks up the latest issuances from the Bureau of Internal Revenue (BIR) and court decisions, or has a battery of tax advisors to do these for him, or attends periodic tax seminars, keeping track of developments in the rules can be difficult.

Does your company have an on-going tax assessment covering tax year 2012? If yes, then it is likely that you have already been asked to execute a waiver on the statute of limitations.

Now that the gifts have been unwrapped and the countless Christmas parties are done, we now look to the preparations for the new year. Some of us are probably still enjoying the much needed vacation while some of us are back at the office looking forward to the next set of holidays which start tomorrow. Soon after, we will bid adieu to 2015 and welcome the new year -- what better time to look back at the events that shaped our lives in the past year?

The presumption of regularity afforded to the revenue examiners in the assessment of taxes and the vested power of the Bureau of Internal Revenue (BIR) to unilaterally determine any deficiency tax make the playing field in the Philippine Tax System unevenly matched.

We have been expecting for a couple of months now the Asia-Pacific Economic Cooperation (APEC) meeting which shall be held tomorrow. The government has been prepping more than ever. It is all over the news how the authorities plan the use of the streets to pave the way for the arrival of guests.

Recently, there are movements with various groups advocating for the immediate adjustment of the 19 years old tax reform in the Philippine Tax System. The tax reform movements are lobbying for the bracket on individuals’ earnings and reducing the existing income tax rate both for individuals and businesses to a more reasonable and competitive rate.