While the BIR is doing its job to meet the collection goal, equally important is to streamline their processes and lower compliance costs. Our tax administration needs to be more responsive with the aid of technology to implement industry profiling and risk-based computer-aided audit. It is an open secret that examiner-taxpayer contact leads to illegal compromise all the time. We need to protect those who are complying and prosecute the unregistered and illegal businesses. Unfortunately, bribes, kickbacks and other illegal activities proliferating in various institutions are not taxable, and any disbursements related to it are not deductible as expense either. #HonestlySpeaking
Posted on: Mon, 28 Oct 2013 14:07:45 +0000
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