Feb 112015
THE BUREAU of Internal Revenue (BIR) has a gargantuan task of achieving its collection target for this year of P1.72 trillion (a significant increase from last year’s target of P1.456 trillion, which was not met). To achieve this goal, the BIR has identified 27 priority programs as explained in a recent circular (RMC 3-2015).
Against this backdrop, taxpayers should expect more frequent and aggressive tax audits.