Estimating your sales and expenses to hit a filing deadline feels harmless. It isn't. The moment your declared figures stop matching what your suppliers, customers, and withholding agents have already reported…
Quick Answer: Can You Fail a BIR Audit? No, you don’t technically “fail” a BIR audit. However, if discrepancies are found, the Bureau of Internal Revenue (BIR) may issue deficiency tax assessments, penalties, surcharges,…
Do You Need to Verify a BIR Letter of Authority (LOA) in the Philippines? Yes. All taxpayers, individuals, SMEs, and corporations must verify the authenticity of a BIR Letter of Authority (LOA) before…
Do Businesses Need to Change How They Prepare Their 2025 AFS? Yes. While the Financial Statements cover calendar year 2025, how they are reviewed has changed significantly. The Bureau of Internal Revenue now…
BIR Orders Immediate Suspension of Audit Operations Under RMC 107-2025 The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular No. 107-2025, directing the immediate suspension of all audit…
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…
How to Avoid a BIR Subpoena Duces Tecum in the Philippines Getting a notice from the BIR is one thing—but receiving a Subpoena Duces Tecum? That’s serious. It’s a formal…
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…
BIR Sticks to P3.23T Revenue Target for 2025 Despite Global Trade Risks MANILA — The Bureau of Internal Revenue (BIR) is holding firm on its P3.23 trillion tax collection target…
Staying compliant with tax regulations is critical for any business or professional. To make this process easier, the Bureau of Internal Revenue (BIR) has issued new guidelines that streamline taxpayer…