Business owners usually fret at the prospect of receiving the dreaded notice of audit or Letter of Authority (LOA) from the Bureau of Internal Revenue (BIR). The fear usually comes from celebrated cases of tax disputes with the BIR. With this year’s BIR collection target at P2.3 trillion, 14 percent higher than the previous year’s goal, expect the BIR to intensify its tax enforcement and collection drive.
OIivier Aznar