BIR to step up its intel-gathering on tax compliance of corporations nationwide to help in the economic recovery program.
The Bureau of Internal Revenue (BIR) expanded its intel-gathering on the tax compliance of business establishments nationwide.
BIR Commissioner Lilia Catris Guillermo suspended tax audits pending submission by revenue district officers of all unfinished reports, which also include prescribing cases, the Manila Bulletin reported.
Revenue regional directors said the operation was in preparation for the resumption of issuance of letters of authority (LA)
Additionally, Makati Revenue Regional Director Jethro. M. Sabariaga said that the BIR needs to focus on information gathering for their operations while waiting for the lifting of the audit ban.
He added that “the operation does not only concern data collated from information furnished by taxpayers’ clients, but from other big data sources like the local government units , the Bureau of Customs, the National Economic Development Authority and the Department of Finance.”
Sabariaga also said that taxpayers will be addressed with the BIR findings to allow them to amend their financial statements.
“This will enhance voluntary compliance, increase tax take and help facilitate the government’s economic recovery program,” said Sabariaga.
Tags: #BIR, #TaxCompliance, #Economy