Is Your Industry on the BIR Watchlist? Possibly, mainly if your business operates in a high-risk or data-visible industry. As the Bureau of Internal Revenue (BIR) strengthens its use of third-party data, digital reporting,…
Are Audits Only for Compliance? Most business owners view audits as something they have to do for the BIR, the SEC, a bank loan, or investor requirements. But when you step…
1. Incomplete or Unsupported Expenses This is one of the most common findings among SMEs. Even legitimate business expenses can be disallowed if supporting documents are missing or incorrect. Typical Issues Missing…
What Is an External Audit? An external audit is a yearly review of your financial statements by an independent CPA. The goal is to check whether your books are accurate, complete, and fairly presented. …
Quick Answer: What Happens if You Don’t Comply with BIR Rules in 2025? Under the Ease of Paying Taxes (EOPT) Law – RA 11976, the BIR has streamlined processes but…
Do You Need to File an Audited Financial Statement in 2025? Quick Answer: If you’re a business owner in the Philippines, your filing obligations depend on the nature of your…
Worried About a BIR Audit? Here Are 5 Red Flags That Could Trigger One in the Philippines Late filings? Mismatched tax reports? Missing receipts? These aren’t minor oversights — they’re…
What to Do When You Receive a Letter of Authority (LOA) from the BIR If you’ve received a Letter of Authority (LOA) from the Bureau of Internal Revenue (BIR), don’t…
How to Avoid a BIR Audit Caused by Third-Party Matching Errors For many business owners, receiving a Letter of Authority (LOA) from the BIR can feel like getting hit by…
If you’re a business owner in the Philippines, hearing “BIR audit” probably sends a chill down your spine—and for good reason. A tax audit can mean hefty penalties, lost time,…