The Asian Consulting Group (ACG) concluded its webinar, “Game-Changing Tax Strategies: Settling Your Cases with Tax Savings (Part 1),” last October 25, 2023. The discussion was led by ACG Senior Tax Associate Luis Zafe, who delivered essential insights into navigating the landscape of tax settlements, emphasizing the importance of aligning tax strategies with the evolving tax environment.
The discussions covered enforcement programs such as the Run After Tax Evaders (RATE) and Oplan Kandado, providing attendees with proactive compliance strategies to minimize tax risks. Understanding the criteria outlined in RMO No. 6-2023 for BIR audit selection empowered participants to prepare effectively for potential audits.
“In general, all taxpayers are potential candidates for an audit. If your compliance is lacking, you could be selected for an audit. Moreover, if you have a history of annual audits by the BIR, the likelihood of being audited by them remains high.” – John Luis Zafe, Senior Tax Associate
Furthermore, the event explored prescription periods for tax assessments, emphasizing the importance of adhering to timeframes and compliance. Zafe also presented real-life case studies to serve as practical guides, demonstrating how ACG successfully resolved client company’s tax cases without compromising, effectively turning challenges into opportunities for tax savings.
This event provided participants with a comprehensive understanding of tax management, offering practical insights to reduce liabilities and achieve tax savings effectively.
Stay tuned for updates on the second part of our Game-Changing Tax Strategies Webinar Series. Follow us on our official social media pages (Facebook, Instagram, and LinkedIn: Asian Consulting Group or ACG) or contact us at consult@acg.ph or +63 917 627 8805.
