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NV & C Tax and Accounting Services

last Sat

Difference between Letter of Authority, Letter Notice, Tax Verification

Notice I - Letter of Authority 1.) Initiated / Issued by Regional Director /
Commisisoner 2.) Issued under normal / regular audit II - Letter Notice 1.)
Initiated by National Office - Commissioner / DepCom - Operations
Group / SID 2.) Issued due to a Third Party Information (TPI) or from an
ordinary Tip. 3.) Issued if there was an undeclaration of sales / other
income or overdeclation of expenses, purchases or cost of sales III - Tax
Verification Notice 1.) Initiated / Issued by Revenue District Officer 2.)
issued when there was request for Tax Clearance 3.) Issued for audit or
CGT / DST 4.) Issued when there was a request for reinvestigation at the
district level 5.) issued when requesting for a tax refund at the district level

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NV & C Tax and Accounting Services

2 wks

Ano nga ba ang reason bakit na o audit ang isang company? 1.) Net Loss
sa ITR/FS at may creditable withholding tax carry over 2.) Low tax
compliance 3.) Lowest sa benchmarking (industry-wide) 4.) Pinakamalaki
sa RDO, TAMP taxpayer 5.) 5 years na, Net Loss pa rin 6.) Sales is above
1,919,500 pero Non VAT pa rin 7.) Suki, tuwing ino audit, lagi may
pabaon. 8.) May Third Party Information (TPI or Tip) na nakuha si BIR
from taxpayer's employee themselves or sa mismong accountant nya na
masama ang loob. 9.) Ni request na mag increase ng payment dahil kulang
ang collection target ng RDO pero di nagparticipate, kaya ayun, pina
audit. 10.) Bumaba ang declaration from last year kaya na audit 11.) Nag
amend ng tax return. 12.) Hindi sinagot yung nasa Letter Notice 13.)
Napikon lang si examiner kasi last na nag audit sya, wala syang na collect.
14.) Ka kumpetensya ni BIR sa negosyo si taxpayer 15.) Kilala or sikat si
taxpayer 16.) Nakita ni BIR na malaki yung pinapagawang building,
bahay or tindahan ni taxpayer. 17.) Na prescriban si BIR kaya nagalit at
bumawi sa susunod na audit. 18.) Nakaaway or napag initan ni BIR si
taxpayer. 19.) Under declaration of sales and other income or over
declaration of purchases, cost of sales or expenses for 30% or more.
Meron pa bang iba. Paki comment na lang.

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NV & C Tax and Accounting Services

2 wks

Mother RRs (Revenue Regulations): 1. Income Tax RR 2-40 dated Feb10,

1940 2. Withholding Taxes RR 2-98 Apr 17,1998 3. Value Added-Tax RR
16-2005 Sept 1,2005 4. Estate and Donors Tax RR 2-03 De 16, 2002 5.
Bookkeeping - RR No.V-1 March 17,1947 6. Consolidated Registration
RR 7-2012 7. Preserving of Books of Accounts RR 17-2013 8. Mandatory
Filing eBIR Forms RR 6-2014 9. Ordinary vs. Capital Assets RR 17-2003
10. Due Process in Assessment RR 12-99/18-13 11.) Fringe Benefits Tax
- RR 3-98 12.) Documentary Stamp Tax - 13-2004

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NV & C Tax and Accounting Services

3 mos

ITRs Filing done.. :) To ensure proper recording, timely filing and to

avoid penalties...., HIRE OUR SERVICE NOW!! :)

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NV & C Tax and Accounting Services

3 mos

Today's Submission

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NV & C Tax and Accounting Services

3 mos

Need help? PM us noW! ;)

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