Post review of transactions

Today, we are celebrating Valentine’s Day, which many will celebrate by giving flowers or boxes of chocolate, or by arranging dinner dates or visits to romantic locations. These gestures are meant to show our appreciation and care for loved ones. All things considered, this love month can also be a time for showing how much […]

Bills on Ease of Paying Taxes: Creation of small taxpayer group, different e-payments proposed

THE SENATE Ways and Means Committee on Wednesday deliberated on proposals to ease the payment of taxes, including the creation of new classifications for small taxpayers and adopting different online payment platforms. “The measures aim to simplify the lives of our taxpayers, make it convenient, and enable them to use cutting-edge technologies as means of […]

BIR says small taxpayers won’t be focus of agency’s enforcement efforts

THE Bureau of Internal Revenue (BIR) said on Monday that small taxpayers will not bear the brunt of its enforcement actions, adding that its efforts will be focused on medium-sized and large companies. “In this administration, we will really focus on large taxpayers and medium taxpayers,” BIR Commissioner Lilia Catris Guillermo said at the Senate […]

BIR to launch online taxpayer registration system

THE Bureau of Internal Revenue (BIR) announced that it will launch an Online Registration and Update System (ORUS) in 2022 or 2023, in compliance with its Digital Transformation Roadmap. ORUS will accept registration-related transactions. Users need to provide updated records, particularly e-mail addresses and contact information. Registered users will nominate an official taxpayer e-mail address, to […]

The VAT refund that got away?

Two weeks ago, our Let’s Talk Tax article covered the new Value-Added Tax (VAT) rules on sale of goods to ecozone entities and exporters. This was pursuant to Revenue Regulations (RR) No. 9-2021 which imposed 12% VAT on certain transactions that were previously taxed at 0%. The RR met with strong opposition from various stakeholders […]

On to the tax audit period

Physical exhaustion, sleepless nights, and anxiety are among the words that some might use to describe the experience of taxpayers and their accountants in this tax season just concluded, an ordeal heightened by the effects of the pandemic and lockdowns. Thinking about the tax filing season, I remember Sisyphus, from Greek mythology, who was made […]