The 3 Common Taxes that YOU need to KNOW.

The common Taxes, applicable to taxpayer, that you need to know are (1) Value Added Tax (VAT) or Percentage Tax (PT), (2) Expanded Withholding Tax (EWT), and (3) Income Tax. However, additional taxes may apply if there are related transactions such as the following: (1) Withholding Tax on Compensation (WTC) or most commonly know as … Continue reading The 3 Common Taxes that YOU need to KNOW.

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BIR related, How is a particular taxpayer selected for audit?

Officers of the BIR, like for example the Revenue District Officers, the Chief of Large Taxpayer Assessment Division, or the Chief of Excise¬†Taxpayer Operations Division, or even the Chief of Policy Cases and Tax Fraud Division, are responsible for the conduct of audit and/or investigation. ¬†The same offices are the one responsible for the preparation … Continue reading BIR related, How is a particular taxpayer selected for audit?