Managing BIR Tax Assessments
About the Training/Workshop
Overview
Apparently, the BIR is very aggressive in achieving its collection goals and thus, several measures were resorted to achieve those respective goals. Consequently, taxpayers such as single proprietors or corporations are under constant threat for possible tax exposure. Possible tax exposure entails a huge amount of money and unfortunately, some of the existing companies were forced to cease operations or dissolve their corporations because they can no longer settle their outstanding tax liabilities with the BIR.
Accordingly, in order to minimize the risk of tax exposure, it is highly important that the taxpayers should know how the BIR officials assess taxes and their state of mind and common findings. It is also equally important that the taxpayers should know their rights, proper remedies and defenses under the circumstances.
Objectives
• To know the basic principles of Tax Laws
• To learn the basic types of audit notices
• To learn the basic assessment process
• To be able to address properly the BIR officials
• To know the usual findings of the BIR
• To be able to invoke the rights and remedies available to a taxpayer.
Who Should Participate• Business owners (single proprietor or stockholders)
• Business managers and other employees
• Accountants (whether employee or practitioner)
• Others who want to know how to handle BIR’s tax assessment
Key Topics
I. Basic principles of taxation
a. Interpretation of Tax Laws
b. Sources of Tax Laws
c. Power of Commissioner of Internal Revenue
II. Types of Audit Notices
a. Letter of Authority (LA, eLA)
b. Memorandum of Assignment
c. Letter Notice
d. Mission Order (Tax Mapping, Tax Surveillance, Oplan Kandado)
III. Approaching BIR Assessment
a. Basic Assessment Process
b. Subpoena Duces Tecum
c. Preliminary Assessment Notice (PAN)
d. Final Assessment Notice (FAN)
e. Protesting the FAN
f. Court of Tax Appeals
g. Usual findings of BIR officials
h. Invoking the defense of Prescription
i. Waiver of the Statute of Limitations
IV. Managing Delinquent (Collectible) Account
a. Delinquent Account
b. Modes of Collecting Taxes
c. Prescription of time to collect
d. Administrative Remedies
e. Distraint, levy and garnishment
f. Levy of Real Property
g. Compromise of Tax Liability
h. Cases that can be compromised
i. Grounds for compromise
j. Doubtful Validity of Assessment
k. Financial Incapacity of Taxpayer
l. Minimum Compromise Amount
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