taxes

[Ask The Tax Whiz] Is the audit investigation of BIR suspended?

Mon Abrea
[Ask The Tax Whiz] Is the audit investigation of BIR suspended?
The Philippine Tax Whiz discusses the recently issued BIR Revenue Memorandum Order 55-2022 which suspended audit and other field operations of the BIR
Has the BIR audit been suspended?

Under Revenue Memorandum Order No. 22, the examination and verification of taxpayers’ books of accounts, records and other transactions are hereby suspended  for the period of December 16, 2022 to January 8, 2022. During this period, no written orders shall be served to audit and/or investigate taxpayers’ internal revenue tax liabilities.

What are the cases not covered by the suspension of audit?

Per RMO 55-2022, here are the following cases not covered by the suspension of audit:

  • Investigation of cases prescribing on or before April 15, 2023
  • Tax evasion cases
  • Processing and verification of estate tax returns, donor’s tax returns, capital gains tax returns, and withholding tax returns on the sale of real properties or shares of stocks together with the documentary stamp taxes related thereto
  • Examination and/or verification of internal revenue tax liabilities of taxpayers retiring from business;
  • Monitoring of privilege stores (tiangge)
  • Other matters/concerns where deadlines have been imposed

To ensure maximum revenue collection throughout the year, the service of Assessment Notices, Warrants, and Seizure Notice would still be effected. Also, if taxpayers know their deficiency taxes, they may voluntarily pay without the need to secure approval  from concerned Revenue Officials.

 If you have any other tax related questions, you may download TaxWhizPH Mobile app and use the unli-chat feature. You may also use the app to book a consultation with us. Download it here: https://linktr.ee/taxwhizph

Rappler.com

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