Most taxpayers react with apprehension when receiving a BIR Assessment Letter or specifically a Letter of Authority (LOA) as this signals the start of a BIR audit. In most cases, this also means that the taxpayer may need to dispute the audit findings or pay…

Cryptocurrency in the Philippines is a fast-growing industry. Initially, only IT experts were familiar with the technology when it was first introduced in 2018. Today, it has gained traction and popularity even with “ordinary” citizens with its anticipated advantages and income opportunities. With the increasing interest…

If you are in business for 2-3 years, most probably, you may have received a BIR letter informing you of your failure to file the BIR tax returns required for your type of business. That BIR letter is often referred to as Open Cases. Open…

It is challenging for a cash-strapped business enterprise to survive in this hostile business climate. Many companies resorted to workforce reduction or shortened operations to keep them afloat. Others had to close its door entirely to save the company’s remaining assets. Without the infusion of…

We have observed the significant transformation of the Bureau of Internal Revenue’s (BIR) tax filing and payment system to address the unexpected changes brought about by the COVID – 19 pandemic. The bureau has practically made all tax transactions done electronically, including the use of…

The extended lockdown has severely affected our economy. We are forced to stay at home, and businesses are struggling to keep their operations going. This crisis has taught us and made us realize how every peso counts. Business owners welcome with much relief the issuance…