Suspension of All Audit and other Field Operations of the Bureau of Internal Revenue Effective December 15, 2O2O (RMC 127-2020)

All field audit and other field operations of the Bureau of Internal Revenue relative to examinations and verifications of taxpayers’ books of accounts, records and other transactions are hereby ordered suspended for the period December 15,2O2O to January 7,2021. Thus, no field audit, field operations, or any form of business visitation in execution of eLettersContinue reading “Suspension of All Audit and other Field Operations of the Bureau of Internal Revenue Effective December 15, 2O2O (RMC 127-2020)”

Modified Tax Assessments Procedures

Modified Tax Assessments Procedures (RMC 102-2020 and RR 22-2020) Highlights Notice of Discrepancy (NOD) – The NOD aims to fully afford the taxpayer with an opportunity to present and explain his side on the discrepancy found. Discussion of Discrepancy (DOD) – Should not extend beyond 30 days from the receipts of NOD. It is duringContinue reading “Modified Tax Assessments Procedures”