If you’ve ever received letters from BIR and are unsure as to their effects, worry no more. Broken down in this three-part series published with Rappler are the different types of letters that the BIR issues and what taxpayers should do about them.
In the first part of the series, ACG Founding Chairman and Senior Tax Advisor Mon Abrea discusses Mission Orders, Benchmarking Notices, and Letter of Authority.
As a brief overview, Mission Orders are sent by the BIR to initiate their Tax Compliance Verification Drives (TCVD) and their Oplan Kandado. Benchmarking Notices, on the other hand, are served upon taxpayers who fall below a certain threshold set by the BIR. Finally, Letter of Authority are letter that the BIR issues to initiate BIR Audit.
The issuance of these letters come with certain rights and duties, so make sure to read the full article so that you don’t sleep on those rights! Knowing what they are will also help you figure out if there are issues with your tax filings, and that will allow you to promptly solve them.
Read the full article here: https://tinyurl.com/2fxf4fn2
If your company has received any of these letters, Asian Consulting Group is here to help. Consult with us now and hear strategic advice from us. Send us an email at firstname.lastname@example.org to get started.