Court of Tax Appeals
(MANILA BULLETIN)
The BIR’s Large Taxpayers Service (LTS) said Red Ribbon Bakeshop had under declared its purchases in 2009, thus cutting income and value-added tax payments.
The court’s Third Division, however, voided the assessment as the LTS did not follow the procedure prescribed by Revenue Memorandum Order 43-90 on how an audit should be conducted.
The guideline which implemented Section 6 of the Tax Code requires revenue officers to first secure a non-transferable Letter of Authority (LA) to investigate duly signed by the authorized representative of the BIR commissioner before he can look into the books of accounts of a taxpayer.
Commissioner Caesar Dulay of the Bureau of Internal Revenue has vowed to reshuffle key field officials as ordered by President Duterte "to remove the remaining bad tomatoes in the service."
Published December 31, 2020, 5:30 AM
The leading tax collection unit of the Bureau of Internal Revenue (BIR) has surpassed by a big margin its collection assignment as it garnered P1.4 trillion of December 22, 2020.
Revenue Assistant Commissioner Manuel Mapoy, head of the Large Taxpayers Service (LTS), said the take was P135.5 billion higher than the goal of P1.2 trillion for 2020.
(MANILA BULLETIN)
The LTS exclusively handles the investigation of the country’s 3,000 top corporations including multinationals and inter-related companies.
Mapoy said the remarkable fate was achieved through relentless audit of financial statements and other tax returns.
He said many individuals and companies availed themselves of the current tax amnesty on delinquencies program to avoid investigation and pay interest and surcharges for deficiencies found during probe.
Published December 22, 2020, 3:28 PM
The Department of Finance (DOF) has extended the deadline for the availment of the Voluntary Assessment and Payment Program up to June 30, 2021.
Earlier, the DOF also moved the deadline of the tax amnesty on delinquencies for another six months, or from Dec. 31, 2020 to June 30, 2020.
VAPP allows delinquent taxpayers to voluntarily settle tax liabilities incurred in 2018 to avoid paying penalties when tax authorities uncovered deficiencies during investigation.
The BIR said it has already raised more than P200 million from VAPP.
Many of those who availed themselves of the program were owners of small and medium scale businesses.
The VAPP regulations stated that taxpayers whose applications are rejected may still appeal with the regional director or the assistant commissioner for the Large Taxpayers Service where they are registered.