Current News

Why is there a need for a Letter of Authority?

In the process of facing your cases concerning your taxes, the Bureau of Internal Revenue (BIR) should send you one crucial document to start its operation. Other than that, both auditing and investigation will not be considered the rightful activity.  This insight comes after the Supreme Court has made a statement on the disturbing trend …

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BIR looks after 250 top social media influencers

The Bureau of Internal Revenue (BIR) has conducted an investigation on 250 of the top social media personalities in regards to their tax compliances. In a report released last Thursday, BIR’s probe took place to check whether they are registered taxpayers and are paying correct taxes.  This comes following the BIR revenue memorandum circular (97-2021) …

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House passes the proposed Ease of Paying Taxes Act

Last week’s plenary session saw the passage of a bill on its third reading about modernizing tax administration and improving tax compliance. Over 193 lawmakers voted in favor of House Bill 8942 — or the proposed Ease of Paying Taxes Act — that introduces administrative tax reforms by amending several sections in the National Internal …

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BIR explains the need of and reasons behind ‘informant’s reward’

As the news about the Bureau of Internal Revenue (BIR) going after content creators and social media influencers for the tax continues, the issue about ‘informer’s reward’ for reporting alleged tax evaders suddenly enters into the picture. This program comes in according to Section 282 of the National Internal Revenue Code (NIRC) of 1997, wherein “persons instrumental …

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Winning PH athletes can now avail of tax exemptions courtesy of Hidilyn Diaz Act.

Following the gifts and rewards that the Olympians were given after they were placed during the 2020 Tokyo Olympics, the House of Representatives has recently approved the third and final reading of the bill that further guarantees a tax-free rewards program for the winning athletes and coaches in major international competitions. Dubbed as the ‘Hidilyn Diaz …

Winning PH athletes can now avail of tax exemptions courtesy of Hidilyn Diaz Act. Read More »