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By Mark Anthony Tamayo on December 30, 2021 Last of a series In last week’s article, we briefly compared Bureau of Internal Revenue (BIR) and Bureau of Customs (BoC) audits. Further differences are highlighted here. Audit timeframe The BIR and the BOC are mandated to complete their...

By Mark Anthony Tamayo on December 23, 202 First of a series Recently, the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) respectively issued Letters of Authority (LOAs) and Audit Notification Letters (ANLs) to selected taxpayers and importers. It may thus be the most propitious...

By Euney Marie Mata-Perez on December 16, 2021 Foreign direct investment (FDI) inflows took a beating during the Covid-19 pandemic. Government-imposed travel bans and quarantines for foreign travelers likely contributed, so it is thus crucial that the government pass economic measures to promote...

By Euney Marie Mata-Perez on December 9, 2021 In cross-border transactions, the allocation of the power to tax between taxing jurisdictions over buyers and sellers of tangible or physical goods is crucial. In the pre-internet age, the buyer’s and seller’s actual geographic location...

By Euney Marie Mata-Perez on December 2, 2021 Last Monday, November 29, 2021, I had the privilege of moderating a tax lecture sponsored by the Ateneo Law Alumni Association, Inc. (ALAAI) entitled “You Can Run But You Can’t Hide From Taxes”. The main speaker was Bureau of Internal...

By Euney Marie Mata-Perez on November 25, 2021 On Sept. 21, 2021, the House of Representatives passed on third reading House Bill 7425 (HB 7425), which seeks to amend the National Internal Revenue Code (Tax Code) to impose a 12-percent value-added tax (VAT) on the sale of digital services and...

By Euney Marie Mata-Perez on November 18, 2021 Tax avoidance and tax evasion are the two most common ways used by taxpayers to not pay taxes or pay reduced taxes. Tax avoidance is the use of tax-saving devices within the means sanctioned by law and where the taxpayer acts in good faith and at...

By Euney Marie Mata-Perez on November 11, 2021 Nothing is certain except death and taxes, Benjamin Franklin wrote in 1789. It is a statement remains true today. Tax compliance is certain, too, with its attendant costs, uncertainty at times, and pains. So for the government to collect more taxes,...

By Ellaine Anne Bernardino on November 4, 202 Proper serving of notices of assessment from the Bureau of Internal Revenue (BIR) is crucial. If done improperly, the assessment can be invalidated because of the lack of due process. Section 228 of the National Internal Revenue Code provides that...