Dec 142015
The presumption of regularity afforded to the revenue examiners in the assessment of taxes and the vested power of the Bureau of Internal Revenue (BIR) to unilaterally determine any deficiency tax make the playing field in the Philippine Tax System unevenly matched.
In the recently concluded Grant Thornton International tax academy held here in Makati City, I had the chance to glimpse the prevailing tax systems of some Asia-Pacific countries, namely: Australia, Malaysia, China, Indonesia, Japan, Singapore, Thailand, and India. During the conference, I discovered that the indirect tax systems in these countries are closely similar to ours.