Dec 112013
KAIZEN is a Japanese concept for continuous improvement. Literally, the word means “improvement” or “betterment”, but some may expand this to “the act of making bad points better”. With the issuance of Revenue Regulations (RR) No. 18-2013 on Nov. 28, it seems that the Bureau of Internal Revenue (BIR) has dipped into kaizen by leveraging on past experience. RR 18-2013 amends certain provisions of RR 12-1999, the implementing regulations that contain the BIR’s procedures on issuing deficiency tax assessments.