[Ask the Tax Whiz] How do we hold our government officials accountable?

Is the filing of the Statement of Assets, Liabilities, and Net Worth required for all government officials and employees? How about newly appointed public officials? When is the deadline of filing SALNs? What should be disclosed in the SALN? Any penalties for non-compliance? Pursuant to Section 8 of Republic Act (RA) No. 6713, public officials … Read more

[Ask the Tax Whiz] Who would support genuine tax reforms if elected?

Good governance is more likely to lead to an increase in tax collections. While tax administration is crucial in improving tax collections, equally important in addressing tax evasion and smuggling is eradicating graft and corruption in government. The Philippines’ next president must have the moral ascendancy, track record of public service, and a clean tax … Read more

[Ask the Tax Whiz] The Marcos family’s estate tax liability

On December 2, 2021, presidential candidate Ferdinand Marcos Jr. and his family received a written demand from the Bureau of Internal Revenue (BIR) to settle their estate tax liability amounting to a staggering P203 billion. How did the estate tax of the Marcos family balloon to such a huge amount? The basic estate tax due, … Read more

[Ask the Tax Whiz] Consequences of non-filing, non-payment of tax returns

The Philippine Tax Whiz warns taxpayers of the consequences of non-filing and non-payment of tax returns The non-filing and the non-payment of tax returns are two of the most common violations committed by the taxpaying public. Whether the non-compliance is a mere omission or a deliberate attempt to commit fraud, our tax code provides penalties … Read more

[Ask the Tax Whiz] How do enforcement programs affect BIR collections?

The Philippine Tax Whiz discusses the various priority programs of the Bureau of Internal Revenue What are the different enforcement programs of the Bureau of Internal Revenue (BIR) for the taxable year 2022? Recently, the BIR issued Revenue Memorandum Circular (RMC) No. 10-2022 to publish its priority programs and projects for 2022. Among the enforcement … Read more