Apparently, the BIR is very aggressive in achieving its collection goals and thus, several measures were resorted to achieve that respective goals.
Taxes are necessary not only to sustain the government’s operations but also to fund projects that were developed to help promote economic growth and the welfare of its citizens. Without taxes, the government would be paralyzed because absent the needed funds, the government, no matter how formidable, may not be able to perform its functions effectively.
Considering the rise in the volume of government projects to ensure public welfare and safety amidst the COVID-19 pandemic, it is not surprising that the tax collection agencies, such as the Bureau of Internal Revenue (BIR), are finding ways to strengthen its tax collection and make it more efficient. Indeed, tax collection is of primordial importance.
Consequently, taxpayers such as single proprietors or corporations are in constant threat for possible tax exposure. Possible tax exposure entails a huge amount of money and unfortunately, some of existing companies were forced to cease operations or dissolve their corporations because they can no longer settle their outstanding tax liabilities with the BIR.
The purpose of this webinar is to arm or equip the taxpayer with the prevailing laws, rules and regulation used by the BIR in assessing and collecting taxes and the corresponding taxpayer’s rights and remedies. Strategies in handling tax assessments and collection are also included so that the taxpayer may lessen its tax liabilities.
This online session also designed to provide the participants basic knowledge and procedures on how to avail the tax amnesty as provided in the tax amnesty act.