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Financial statements are the cornerstone of informed decision-making – but beneath the numbers often lie layers of uncertainty. Whether it's the valuation of assets, recognition of revenue, or assessment of liabilities, ambiguity is inherent in financial reporting.

In the past, companies often relied on word of mouth and organic growth to expand their reach. While these methods still hold value, today's business landscape calls for a more proactive and strategic approach.

For many taxpayers, the past carries a lingering burden—the thought of missed filing of tax returns, unresolved tax obligations, and the uncertainty of when the next Letter of Authority from the Bureau of Internal Revenue (BIR) will come knocking at their doorstep.

Inevitable is the fact that taxes and public contracts will remain deeply intertwined.

The traditional means of conducting audits was challenged, but over time, the profession adapted and transformed.

Since the Capital Markets Efficiency Promotion Act (CMEPA) took effect on July 1, 2025, a wave of social media posts has stirred public concern over a supposed “20% tax on savings”. Filipino netizens were alarmed by the misleading posts suggesting that their actual bank savings are now subject to a 20% tax, prompting widespread online reactions.

Access to legal aid in the Philippines remains a pressing challenge. The sad reality is millions of Filipinos in rural and marginalized communities struggle to have access to legal services.

In a significant step toward modernising the country's tax system, Republic Act (RA) No. 12023 was enacted in October 2024, introducing a 12% value-added tax (VAT) on digital services.